The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets becomes more important. The Ellipal wallet can be described as a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR with a compromised system that is infected with viruses Your private keys remain secure and safe.
Ellipal is a unique wallet. 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 communicates through QR codes via cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers 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 convenient to use as other wallets that are hardware-based that connect to a computer to facilitate 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 that potential buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add support for more coins in the near future.
In the end it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price at $149 is comparable with other wallets. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product on the market.