The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes more essential. The Ellipal digital wallet gadget that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in the course of 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 competing companies like TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised computer which is infected by viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes using cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker getting an access point to your private keys by the network. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it isn’t tested in battle yet. This is something potential buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were around for longer and have proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other wallets, and it’s an extremely new product that’s available.