The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets becomes increasingly crucial. It is the Ellipal digital wallet device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers getting access to the private key by the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it’s not tested in battle yet. This is something that potential buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports the following coins: a few which include 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. But, the company is working to provide the support of more coins in the near future.
In conclusion, the Ellipal wallet is a new player on the hardware wallet market, promising that it is 100% secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with its competitors. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other wallets, and it’s an all-new product on the market.