The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available in recent years, each claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state they are 100% secure, but it’s important to remember that hardware wallets of rival firms like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via cameras on its back of the. This makes it a very safe option since it blocks the possibility of a hacker getting gain access to private information via a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it has not been combat-tested to date. This is something that potential buyers need to be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a new player on the hardware wallet market, promising to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets, and it’s an extremely new product available on the market.