The world of cryptocurrency has seen an significant rise in the number of hardware wallets available in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is a brand new 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 and more commonplace, the need for secure the storage and protection of assets becomes more essential. The Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website and online reviews claim they are 100% secure, however, it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses, your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker having gain access to private information by an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it has not been battle-tested yet. This is something that potential buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer and have a established track records of security.
In terms of coin support 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 as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add more support for coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the hardware wallet market and promises that it is 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with its competitors. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product that’s available.