The cryptocurrency market has witnessed an significant increase in the number of hardware wallets in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets is becoming increasingly crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state they are completely secure, however, it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to 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.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it isn’t battle-tested yet. This is something that potential buyers need to take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for longer and have proven track record of security.
In terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to add more support for coins in the future.
In the end In conclusion, the Ellipal wallet is a new player in the market of hardware wallets that claims to be 100% secure because of its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with other wallets. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other wallets. It’s also an all-new product on the market.