The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years, all promises 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 a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets is becoming increasingly essential. The Ellipal wallet is a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state they are 100% safe, however it is important to remember that hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that is infected with viruses Your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key through the network. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it’s not tested in battle yet. This is something potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide the support of more coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an new player on the market for hardware wallets and promises that it is 100% safe due to its total inaccessibility to any network or computer. The company behind it is new and the product has not been battle-tested as of 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 completely separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an all-new product on the market.