The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years, all claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets becomes more important. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised system that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting access to the private key via a network connection. It’s important to note that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not combat-tested to date. This is something prospective buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding support for more coins in the future.
In conclusion, the Ellipal wallet has been a new competitor in the hardware wallet market that claims to be completely secure due to its complete inaccessibility to any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also an extremely new product available on the market.