The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available on the market in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets is becoming increasingly important. It is the Ellipal wallet is a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR with a compromised computer that has been infected with viruses Your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key through an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it isn’t combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new player on the market of hardware wallets, promising to be 100% safe due to its total isolation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with the other options. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product that’s available.