The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes more crucial. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For instance, even if you connect your TREZOR to a compromised device that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers getting gain access to private information via an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not battle-tested yet. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets that claims to be completely secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively 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 tag of $149 is in line with the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s a relatively new product that’s available.