The world of cryptocurrency has seen an significant rise in the number of hardware wallets available in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly essential. It is the Ellipal wallet is a device which keeps the private keys to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim they are 100% safe, however it is important to remember that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key through a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it isn’t battle-tested yet. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to add the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player on the market for hardware wallets and promises to be completely secure because of its complete separation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s an all-new product on the market.