The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal wallet is a tool that stores the private key to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR to a compromised device that has been infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it a very secure option as it eliminates the possibility of a hacker having gain access to private information through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it isn’t combat-tested to date. This is something potential buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide more support for coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a brand new player on the hardware wallet market that claims to be 100% safe due to its total isolation from any network or computer. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with other wallets. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets. It’s also an all-new product available on the market.