The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure storage of digital assets is becoming increasingly essential. The Ellipal wallet can be described as a tool that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews state they are completely secure, however, it’s important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses Your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its rear of the. This makes it a very safe option since it blocks the possibility of hackers having gain access to private information via a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are in business for longer and have established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide support for more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market of hardware wallets, promising to be completely safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with other wallets. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product on the market.