The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years, all claims to keep digital assets secure and safe. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a device that keeps the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via cameras on its back of the. This makes it a highly secure choice as it removes the possibility of hackers having an access point to your private keys through the network. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not tested in battle yet. This is something prospective buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer 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 more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an new competitor in the hardware wallet market, promising that it is 100% safe due to its total isolation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with its competitors. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. It’s also an all-new product on the market.