The world of cryptocurrency has seen an significant increase in the number of hardware wallets in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets becomes increasingly crucial. It is the Ellipal wallet is a device that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR to a compromised device that has been infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear end. This makes it a highly secure choice as it removes the possibility of hackers having an access point to your private keys by the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected 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 battle-tested yet. This is something potential buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to add the support of more coins in the future.
In the end In conclusion, the Ellipal wallet has been a brand new player in the market for hardware wallets, promising to be completely safe due to its total isolation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with the other options. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other hardware wallets, and it’s an extremely new product available on the market.