The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets is becoming increasingly important. It is the Ellipal digital wallet device that stores the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews claim they are 100% safe, however it is important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer which is infected by viruses Your private keys remain protected and safe.
Its 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 transmits QR codes through cameras on its rear end. This makes it a highly secure choice as it removes the possibility of a hacker having access to the private key via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware 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 that potential buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of 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 is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to add more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an new player on the hardware wallet market, promising to be 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with other wallets. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets before making a choice. The final decision about whether the Ellipal wallet is worth 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 for use like other hardware wallets. Additionally, it’s an all-new product on the market.