The world of cryptocurrency has seen an significant increase in the number of hardware wallets in recent years, all promises to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes more essential. It is the Ellipal wallet is a tool that keeps the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR on a compromised device which is infected by viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of hackers having access to the private key through the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t battle-tested yet. This is something potential buyers should keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for longer and have a established track records of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding more support for coins in the future.
In the end it is clear that the Ellipal wallet has been a new player on the market of hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other wallets, and it’s an extremely new product available on the market.