The cryptocurrency market has seen an significant rise in the number of hardware wallets in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The website of the company and its online reviews state the hardware wallet as 100% safe, however it is important to remember that hardware wallets of competing companies like TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised system which is infected by viruses your private keys will remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining access to the private key by the network. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it isn’t tested in battle yet. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding more support for coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh player on the market for hardware wallets that claims to be 100% safe due to its total isolation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets before making a choice. The final decision about 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 to use as other hardware wallets. Additionally, it’s a relatively new product that’s available.