The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available in recent years. Each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes more essential. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. For example, even if you connect your TREZOR to a compromised computer that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers having gain access to private information by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, 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 battle-tested yet. This is something that potential buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have a established track records of security.
In terms of support for coin, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to provide the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market and promises to be completely secure due to its complete isolation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price 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 hardware wallets. It’s also an extremely new product that’s available.