The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more essential. It is the Ellipal wallet is a gadget that stores the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no one outside can view your private key. For instance, even if you connect your TREZOR to a compromised device which is infected by viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its rear of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining access to the private key via an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it’s not tested in battle yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the near future.
In conclusion, the Ellipal wallet has been a fresh player in the market for hardware wallets and promises that it is 100% secure due to its complete separation from any computer or network. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with other wallets. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for 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 hardware wallets. Additionally, it’s a relatively new product on the market.