The cryptocurrency market has seen an significant increase in the number of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes more important. The Ellipal digital wallet tool that keeps the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR to a compromised system that is infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a highly secure choice as it removes the possibility of hackers getting an access point to your private keys through the network. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it’s not combat-tested to date. This is something potential buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are around for longer and have a proven track record of security.
Regarding support for coins, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding support for more coins in the future.
In conclusion, the Ellipal wallet has been a new competitor in the market for hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with the other options. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets. It’s also an all-new product that’s available.