The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage becomes more essential. It is the Ellipal digital wallet tool that keeps the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes through cameras on its back of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining gain access to private information by the network. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it’s not tested in battle yet. This is something potential buyers should keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding support for more coins in the future.
In conclusion, the Ellipal wallet has been a brand new player in the hardware wallet market, promising to be completely safe due to its total separation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product on the market.