The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years, each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website and online reviews claim the hardware wallet as completely safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having access to the private key via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it has not been tested in battle yet. This is something prospective buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player on the market of hardware wallets, promising to be 100% secure because of its complete separation from any computer or network. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with other wallets. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product that’s available.