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. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure security for digital asset storage becomes more important. The Ellipal digital wallet gadget that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys via an internet connection. It’s important to note that this means 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, meaning that it’s not combat-tested to date. This is something that potential buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to add support for more coins in the near future.
In the end In conclusion, the Ellipal wallet has been a fresh player in the market of hardware wallets, promising that it is 100% secure because of its complete separation from any computer or network. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with the other options. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product available on the market.