The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes more essential. The Ellipal wallet is a device that keeps the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses your private keys remain secure 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 through QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information through the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it has not been battle-tested yet. This is something that potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
In terms of support for coin, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to add more support for coins in the future.
In the end it is clear that it is clear that the Ellipal device is an fresh player in the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with the other options. Although the concept of a completely isolated hardware wallet is intriguing, 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 cost is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s a relatively new product available on the market.