The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on 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 claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets from rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if you connect your TREZOR to a compromised system which is infected by viruses, your private keys remain protected 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 transmits QR codes using a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it’s not combat-tested to date. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding the support of more coins in the future.
In conclusion it is clear that the Ellipal wallet is a fresh player on the market of hardware wallets and promises to be completely secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware wallets before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. It’s also an extremely new product available on the market.