The world of cryptocurrency has seen an significant increase in the number of hardware wallets in recent years, each promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure the storage and protection of assets becomes increasingly important. The Ellipal wallet is a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR with a compromised computer that is infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting gain access to private information via the network. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it has not been tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were in business for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add more support for coins in the near future.
In the end In conclusion, the Ellipal wallet is a fresh competitor in the market of hardware wallets that claims to be 100% secure because of its complete separation from any computer or network. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with other wallets. Although the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s a relatively new product on the market.