The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available on the market in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if you connect your TREZOR with a compromised computer which is infected by viruses, your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having an access point to your private keys through the network. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it has not been combat-tested to date. This is something prospective buyers must take into consideration when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to provide support for more coins in the future.
In the end, the Ellipal wallet is a brand new player on the hardware wallet market, promising to be 100% secure due to its complete isolation from any computer or network. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with its competitors. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product on the market.