The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet device which keeps the private keys to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that is infected with viruses your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information via an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it’s not combat-tested to date. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the hardware wallet market that claims to be 100% secure due to its complete separation from any network or computer. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with the other options. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s a relatively new product that’s available.