The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years. Each promising to keep digital assets safe and secure. Its 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 safe security for digital asset storage becomes more essential. The Ellipal wallet is a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim they are completely secure, but it’s important to remember that hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR to a compromised device that has been infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker having gain access to private information by the network. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it has not been battle-tested yet. This is something that potential buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a new player in the market for hardware wallets and promises that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with its competitors. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly to use as other wallets. Additionally, it’s a relatively new product that’s available.