The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage becomes more crucial. It is the Ellipal wallet is a device that stores the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if you connect your TREZOR on a compromised device that is infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining gain access to private information via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it isn’t battle-tested yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding more support for coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh player in the market of hardware wallets, promising that it is 100% secure due to its complete separation from any computer or network. 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 of $149 is in line with its competitors. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallets before making a choice. 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 that has a modern design however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product on the market.