The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets on the market in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly essential. It is the Ellipal digital wallet gadget that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers having an access point to your private keys via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it’s not tested in battle yet. This is something potential buyers need to take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to add support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market of hardware wallets that claims that it is 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with other wallets. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product on the market.