The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years. Each promising to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes more essential. The Ellipal digital wallet tool that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim they are completely secure, however, it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR on a compromised computer that is infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting an access point to your private keys through the network. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it’s not tested in battle yet. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a established track records of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide more support for coins in the future.
In the end, the Ellipal wallet is a new player on the market for hardware wallets, promising to be 100% secure due to its complete 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 is currently compatible with a limited number of coins and its price at $149 is comparable with other wallets. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy to use as other wallets. It’s also a relatively new product that’s available.