The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes more crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim the hardware wallet as 100% safe, however it is important to remember that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer which is infected by viruses Your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes via a camera on the back of the. This makes it a very secure choice as it removes the possibility of a hacker gaining an access point to your private keys by an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not tested in battle yet. This is something prospective buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding support for more coins in the near future.
In the end, it is clear that the Ellipal device is an new player on the hardware wallet market that claims that it is 100% safe due to its total separation from any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with other wallets. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an all-new product available on the market.