The world of cryptocurrency has seen a significant rise in the number of hardware wallets on the market in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. The Ellipal wallet is a gadget that keeps the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it isn’t tested in battle yet. This is something that potential buyers should be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add support for more coins in the future.
In the end, the Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises to be 100% secure because of its complete separation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s a relatively new product on the market.