The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes more essential. The Ellipal wallet is a tool that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR with a compromised computer which is infected by viruses your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via a camera on the back of the. This makes it a highly safe option since it blocks the possibility of hackers having an access point to your private keys through the network. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, 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 as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add support for more coins in the near future.
In the end, the Ellipal device is an new player in the hardware wallet market and promises to be 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product available on the market.