The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets becomes increasingly important. It is the Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website and reviews online claim they are completely secure, however, it’s important to remember that hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR with a compromised system which is infected by viruses your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes through a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of hackers having an access point to your private keys by the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as 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 buyers. However, the company is currently working on adding support for more coins in the near future.
In the end it is clear that the Ellipal wallet is a new player on the market for hardware wallets that claims to be 100% secure because of its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with the other options. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets. Additionally, it’s a relatively new product on the market.