The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses, your private keys remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key via the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it has not been combat-tested to date. This is something prospective buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a brand new competitor in the market for hardware wallets, promising to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with the other options. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as easy in use as the other wallets, and it’s a relatively new product available on the market.