The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage is becoming increasingly important. The Ellipal wallet is a device that stores the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim they are 100% secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR on a compromised device that is infected with viruses, your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker gaining gain access to private information via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it has not been tested in battle yet. This is something prospective buyers need to take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have established track records of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an fresh player in the hardware wallet market and promises to be completely safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with the other options. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.