The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage is becoming increasingly crucial. The Ellipal wallet is a gadget that keeps the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR to a compromised device which is infected by viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it’s not battle-tested yet. This is something that potential buyers must be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are around for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding the support of more coins in the future.
In the end it is clear that the Ellipal device is an brand new competitor in the market for hardware wallets, promising to be 100% safe due to its total inaccessibility to any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with its competitors. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other wallets. Additionally, it’s an all-new product that’s available.