The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets is becoming increasingly crucial. The Ellipal wallet is a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device which is infected by viruses your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting gain access to private information by an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something that potential buyers should take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for a longer time and have a proven track record of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding support for more coins in the future.
In conclusion In conclusion, the Ellipal device is an fresh player in the hardware wallet market and promises 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 as of yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with the other options. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets before making a choice. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient for use like other wallets, and it’s an extremely new product available on the market.