The world of cryptocurrency has seen a significant increase in the number of hardware wallets on the market in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets becomes more essential. The Ellipal wallet is a tool that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim they are completely secure, but it’s important to note that the hardware wallets from rival businesses like TREZOR as well as 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 to a compromised device which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it isn’t tested in battle yet. This is something prospective buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market that claims to be completely secure because of its complete isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with the other options. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient for use like other wallets. Additionally, it’s a relatively new product that’s available.