The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. It is the Ellipal wallet is a gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state they are 100% secure, but it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers having gain access to private information via an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it’s not combat-tested to date. This is something potential buyers must be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for longer 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 only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of 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 the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market of hardware wallets and promises to be 100% secure due to its complete separation from any network or computer. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with its competitors. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets. It’s also a relatively new product available on the market.