The cryptocurrency market has seen an significant rise in the number of hardware wallets on the market in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for safe storage of digital assets becomes increasingly important. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having an access point to your private keys through a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it has not been battle-tested yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers 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, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to add more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an brand new player on the market of hardware wallets, promising to be 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with other wallets. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other wallets, and it’s an all-new product on the market.