The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes more essential. It is the Ellipal wallet is a tool that keeps the private key to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state the hardware wallet as 100% safe, however it is important to remember that hardware wallets of competing companies such as TREZOR and Ledger are made 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 device that has been infected with viruses Your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of a hacker gaining access to the private key through an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it isn’t battle-tested yet. This is something that potential buyers should take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is currently working on adding the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh player in the market of hardware wallets, promising to be completely secure due to its complete separation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with its competitors. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an all-new product available on the market.