The cryptocurrency market has witnessed a significant increase in the number of hardware wallets in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device that is infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining access to the private key by the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t tested in battle yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer and have established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding the support of more coins in the future.
In the end In conclusion, the Ellipal device is an fresh competitor in the hardware wallet market and promises to be 100% secure because of its complete isolation from any network or computer. Its creators are 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 the price of $149 is in line with other wallets. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient in use as the other hardware wallets, and it’s a relatively new product on the market.