The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure security for digital asset storage becomes increasingly important. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim they are completely safe, however it is important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no one outside can view your private key. For example, even if you connect your TREZOR with a compromised device that is infected with viruses, your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having an access point to your private keys via a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add more support for coins in the near future.
In the end, the Ellipal device is an brand new competitor in the market for hardware wallets and promises that it is 100% secure due to its complete inaccessibility to any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with the other options. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product available on the market.