The world of cryptocurrency has seen an significant rise in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly essential. It is the Ellipal wallet is a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state the hardware wallet as completely safe, however it is important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR on a compromised device that is infected with viruses your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker having an access point to your private keys through an internet connection. It’s important to note that this means the Ellipal wallet isn’t 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 new to the market, which means that it isn’t battle-tested yet. This is something that potential buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were on the market for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a brand new competitor in the market for hardware wallets, promising to be 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with the other options. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets, and it’s a relatively new product available on the market.