The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe security for digital asset storage becomes more crucial. The Ellipal digital wallet device which keeps the private keys to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state they are 100% safe, however it is important to note that the hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR with a compromised computer that is infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of hackers getting gain access to private information through an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide more support for coins in the future.
In the end, the Ellipal wallet is a fresh player in the market for hardware wallets, promising to be 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with other wallets. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. The final decision about whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product on the market.