The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. 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 grows more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim they are 100% secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised system that has been infected with viruses your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using a camera on the back of the. This makes it a very secure choice as it removes the possibility of hackers getting an access point to your private keys via a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it isn’t tested in battle yet. This is something that potential buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for a longer time 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 that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding support for more coins in the future.
In the end it is clear that the Ellipal wallet has been a brand new competitor in the market of hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with other wallets. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other hardware wallets, and it’s a relatively new product on the market.