The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for safe the storage and protection of assets becomes increasingly important. It is the Ellipal digital wallet gadget that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The website of the company and its reviews online claim they are completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR to a compromised device which is infected by viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers getting gain access to private information through the network. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it has not been battle-tested yet. This is something potential buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are around for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding support for more coins in the near future.
In the end it is clear that the Ellipal wallet is a new player in the hardware wallet market, promising to be 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with an innovative design, but it’s not as convenient for use like other wallets, and it’s an extremely new product available on the market.