The cryptocurrency market has seen an significant increase in the number of hardware wallets available on the market in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker gaining access to the private key by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not battle-tested yet. This is something prospective buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are in business for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide more support for coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets, promising that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design but it’s not as convenient for use like other wallets. It’s also an extremely new product on the market.