The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, all promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes more important. It is the Ellipal wallet can be described as a device that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device that is infected with viruses Your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers getting gain access to private information via a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not tested in battle yet. This is something that potential buyers need to be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is currently working on adding more support for coins in the future.
In the end, the Ellipal wallet has been a new player on the market for hardware wallets, promising that it is 100% safe due to its total isolation from any network or computer. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with other wallets. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other wallets, and it’s an all-new product available on the market.