The cryptocurrency market has witnessed an significant increase in the number of wallets that are hardware in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR with 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 disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of a hacker getting 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 convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it has not been combat-tested to date. This is something prospective buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a proven track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to provide the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an brand new player in the hardware wallet market that claims to be completely safe due to its total inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is in line with its competitors. Although the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as user-friendly to use as other wallets, and it’s an all-new product on the market.