The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years, all claims that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet is a device that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR with a compromised system that is infected with viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting access to the private key through the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it isn’t combat-tested to date. This is something that potential buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. 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 wallet has been a brand new player on the hardware wallet market, promising to be 100% safe due to its total separation from any computer or network. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy for use like other wallets. It’s also an extremely new product on the market.