The cryptocurrency market has witnessed an significant rise in the number of hardware wallets in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For example, even if it is possible to connect your TREZOR on a compromised device which is infected by viruses, your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits 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 an access point to your private keys by the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it isn’t combat-tested to date. This is something prospective buyers need to keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a proven track record 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 amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a new player on the hardware wallet market, promising to be 100% secure due to its complete separation from any network or computer. Its creators are new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with its competitors. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product on the market.