The cryptocurrency market has seen an significant increase in the amount of hardware wallets available on the market in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes more essential. The Ellipal wallet can be described as a tool that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses, your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers getting access to the private key via a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it has not been battle-tested yet. This is something potential buyers should take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for longer and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide the support of more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new competitor in the market for hardware wallets and promises to be completely secure due to its complete isolation from any network or computer. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with other wallets. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also a relatively new product available on the market.