The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years, each promising that digital assets will be secure and safe. The Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes more important. The Ellipal wallet is a device which keeps the private keys to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses Your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive 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 through QR codes through cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers gaining access to the private key via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it has not been battle-tested yet. This is something potential buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding the support of more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market of hardware wallets and promises to be 100% secure due to its complete separation from any computer or network. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with the other options. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other wallets, and it’s an all-new product that’s available.