The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware on the market in recent years, each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly essential. The Ellipal wallet is a tool that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young player in 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 state they are completely secure, but it’s important to remember that hardware wallets of competing companies like TREZOR and Ledger are made in a way that no attacker from outside is able to access 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 protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key via the network. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it has not been combat-tested to date. This is something prospective buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add the support of more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player in the market of hardware wallets and promises to be completely secure because of its complete isolation from any computer or network. 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 its price of $149 is on par with other wallets. Although the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s a relatively new product that’s available.