The cryptocurrency market has seen an significant rise in the number of wallets that are hardware on the market in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage is becoming increasingly crucial. The Ellipal digital wallet gadget that stores the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim the hardware wallet as completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR to a compromised device which is infected by viruses, your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of hackers getting access to the private key by an internet connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it has not been tested in battle yet. This is something prospective buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have established track records of security.
In terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add support for more coins in the near future.
In the end In conclusion, the Ellipal wallet has been a fresh player in the hardware wallet market, promising that it is 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with other wallets. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other hardware wallets, and it’s a relatively new product available on the market.