The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a device which keeps the private keys to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised system 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 through QR codes through a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of hackers getting gain access to private information through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not combat-tested to date. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide the support of more coins in the future.
In the end, it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets, promising to be 100% secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with other wallets. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient in use as the other hardware wallets, and it’s an all-new product available on the market.