The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes increasingly essential. The Ellipal digital wallet gadget that stores the private key to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of 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 rival firms like TREZOR and Ledger are made in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining an access point to your private keys via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it isn’t combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets that claims to be 100% secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with other wallets. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallet options before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as easy for use like other wallets. It’s also a relatively new product that’s available.