The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure security for digital asset storage is becoming increasingly essential. It is the Ellipal wallet is a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses Your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of hackers having access to the private key by the network. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it isn’t battle-tested yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide the support of more coins in the future.
In the end it is clear that the Ellipal wallet has been a fresh player on the market for hardware wallets and promises to be completely safe due to its total inaccessibility to any network or computer. 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 the price of $149 is in line with other wallets. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other wallets. Additionally, it’s a relatively new product available on the market.