The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state they are completely secure, however, it’s important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are also designed in a way that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device that is infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers having an access point to your private keys through the network. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been around for longer and have an established track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide more support for coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an new competitor in the market for hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with other wallets. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other wallets. Additionally, it’s an all-new product that’s available.