The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure storage of digital assets becomes increasingly important. The Ellipal wallet is a tool which keeps the private keys to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR on a compromised computer that has been infected with viruses, your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected 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 an extremely secure option as it eliminates the possibility of hackers having an access point to your private keys through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, 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 has not been combat-tested to date. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add the support of more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the hardware wallet market and promises to be completely secure due to its complete inaccessibility to any computer or network. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s an all-new product on the market.