The cryptocurrency market has seen a significant rise in the number of wallets that are hardware in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet is a device which keeps the private keys to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR with a compromised computer that is infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of hackers getting an access point to your private keys through a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not battle-tested yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to add more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an brand new player in the market of hardware wallets that claims to be 100% safe due to its total isolation from any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with its competitors. While the idea of a totally separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other wallets, and it’s an all-new product that’s available.