The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years, each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure security for digital asset storage is becoming increasingly important. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system that is infected with viruses Your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining gain access to private information through a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something potential buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to add the support of more coins in the future.
In conclusion, the Ellipal wallet is a new player in the market of hardware wallets and promises that it is 100% secure because of its complete inaccessibility to any computer or network. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with the other options. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallet options before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other hardware wallets, and it’s an extremely new product available on the market.