The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years, each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes more important. The Ellipal wallet can be described as a device that keeps the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state they are 100% secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that is infected with viruses Your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of hackers gaining an access point to your private keys through a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something prospective 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) are in business for a longer time and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal device is an fresh competitor in the market of hardware wallets that claims to be 100% safe due to its total isolation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with the other options. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also an extremely new product on the market.