The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years. Each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe storage of digital assets is becoming increasingly crucial. The Ellipal wallet is a tool which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim they are completely safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining access to the private key via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not battle-tested yet. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new player on the market of hardware wallets and promises that it is 100% secure due to its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par 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 wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product on the market.