The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets is becoming increasingly crucial. The Ellipal digital wallet device which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR with a compromised computer that has been infected with viruses your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining access to the private key through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it has not been battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the hardware wallet market and promises to be 100% secure due to its complete separation from any network or computer. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with its competitors. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware wallet options before making a decision. The final decision about whether the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other wallets, and it’s an extremely new product available on the market.