The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal digital wallet device which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on 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 as well as reviews online claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device that has been 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 computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker gaining an access point to your private keys by a network connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it has not been tested in battle yet. This is something potential buyers need to be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer 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 working to provide the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a brand new player in the market for hardware wallets, promising to be completely secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with its competitors. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy in use as the other wallets. It’s also an all-new product available on the market.