The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly crucial. The Ellipal digital wallet gadget that stores the private key to digital assets indefinitely and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website and reviews online claim they are completely secure, but it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer that is infected with viruses your private keys are still safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via 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 through an internet connection. It’s important to note that this could mean 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 recent to market which means that it isn’t tested in battle yet. This is something that potential buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports a limited 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 might be a worry for some buyers. But, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets and promises to be completely secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product available on the market.