The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years, each claims that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware, 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 state they are 100% secure, but it’s important to note that the hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a very secure choice as it removes the possibility of a hacker getting access to the private key by 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 can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something potential buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet is a new competitor in the market for hardware wallets, promising to be completely secure because of its complete isolation from any computer or network. Ellipal is a company that’s 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 at $149 is comparable with the other options. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallet options 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 user-friendly to use as other wallets. Additionally, it’s a relatively new product available on the market.