The cryptocurrency market has seen a significant increase in the number of wallets that are hardware on the market in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets becomes more crucial. The Ellipal digital wallet device that keeps the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its online reviews state the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR with a compromised computer that has been infected with viruses your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key by a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it has not been tested in battle yet. This is something potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to provide support for more coins in the future.
In the end, the Ellipal device is an new player on the hardware wallet market, promising that it is 100% secure due to its complete isolation from any computer or network. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with the other options. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s an extremely new product on the market.