The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets becomes more essential. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses your private keys remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via a camera on the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not battle-tested yet. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer and have established track records of security.
In terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to provide the support of more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a new player on the market for hardware wallets and promises to be 100% secure due to its complete inaccessibility to 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 is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient for use like other wallets. Additionally, it’s an extremely new product available on the market.