The cryptocurrency market has seen an significant rise in the number of wallets that are hardware in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is the latest entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets becomes increasingly important. The Ellipal wallet is a device that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer that is infected with viruses your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers having access to the private key by the network. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it has not been combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add the support of more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the market of hardware wallets, promising to be completely safe due to its total separation from any computer or network. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s an extremely new product that’s available.