The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available on the market in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet is a device which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses your private keys remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of hackers having an access point to your private keys via a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it isn’t tested in battle yet. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have established track records 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 the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding more support for coins in the future.
In the end In conclusion, the Ellipal wallet has been a fresh player on the market for hardware wallets and promises to be 100% secure because of its complete separation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with the other options. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s an extremely new product on the market.