The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet can be described as a device that stores the private key to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim they are 100% safe, however it is important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no one outside can see your private keys. For instance, even if you connect your TREZOR with a compromised computer that is infected with viruses, your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes through cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key through the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it’s not battle-tested yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to provide support for more coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player in the market for hardware wallets, promising that it is 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient in use as the other wallets, and it’s a relatively new product available on the market.