The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years, all promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival companies 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 it is possible to connect your TREZOR to a compromised device that has been infected with viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information through a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player on the market for hardware wallets that claims 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 currently supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallets before making a choice. Ultimately, the decision of 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 in use as the other hardware wallets. Additionally, it’s an all-new product that’s available.