The world of cryptocurrency has seen an significant rise in the number of hardware wallets available on the market in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised system which is infected by viruses your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers gaining gain access to private information by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not battle-tested yet. This is something prospective buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for a longer time and have a 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 currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new player in the market of hardware wallets, promising to be completely safe due to its total separation from any network or computer. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with other wallets. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets, and it’s a relatively new product available on the market.