The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years, each promising that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes increasingly important. It is the Ellipal wallet can be described as a tool that stores the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim they are 100% safe, however it is important to note that the hardware wallets from rival firms like TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system that has been infected with 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 which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the rear end. This makes it a very secure choice as it removes the possibility of hackers getting gain access to private information by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it isn’t battle-tested yet. This is something that potential buyers need to take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to add more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with the other options. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product available on the market.