The world of cryptocurrency has seen an significant increase in the amount of hardware wallets on the market in recent years, each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival companies like TREZOR and Ledger are made in a way that no one outside can view your private key. For example, even if you connect your TREZOR with a compromised system which is infected by viruses Your private keys are still safe and secure.
Its 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 communicates through QR codes using a camera on the rear end. This makes it a very secure option as it eliminates the possibility of a hacker gaining access to the private key by the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something that potential buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a proven 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, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an new player in the market for hardware wallets that claims to be 100% safe due to its total isolation from any computer or network. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other hardware wallets. Additionally, it’s an extremely new product that’s available.