The cryptocurrency market has seen an significant increase in the number of hardware wallets available on the market in recent years, each promising that digital assets will be secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR with a compromised device that is 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 isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting access to the private key via an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not combat-tested to date. This is something that potential buyers should take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are in business for longer and have proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide more support for coins in the near future.
In conclusion, the Ellipal wallet has been a brand new competitor in the hardware wallet market, promising to be completely secure due to its complete separation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other hardware wallets. It’s also an extremely new product available on the market.