The world of cryptocurrency has seen an significant rise in the number of hardware wallets on the market in recent years, each claims to keep digital assets safe and secure. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR on a compromised system which is infected by viruses, your private keys will remain protected and safe.
Its 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 transmits QR codes using an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining access to the private key via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t battle-tested yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are around for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add the support of more coins in the future.
In conclusion, the Ellipal device is an fresh player in the market of hardware wallets, promising to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets, and it’s an all-new product on the market.