The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years, each promising that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure storage of digital assets is becoming increasingly essential. The Ellipal wallet is a gadget which keeps the private keys to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers getting access to the private key through an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something potential buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. The company is working to add support for more coins in the near future.
In conclusion, the Ellipal device is an fresh competitor in the hardware wallet market that claims to be 100% secure because of its complete separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with its competitors. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. It’s also an extremely new product that’s available.