The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes more important. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a very safe option since it blocks the possibility of a hacker having access to the private key through the network. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it isn’t battle-tested yet. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support a limited number of coins 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 users. However, the company is currently working on adding more support for coins in the near future.
In the end, the Ellipal device is an new player in the market for hardware wallets, promising to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at 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 up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy to use as other wallets, and it’s an all-new product available on the market.