The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly important. It is the Ellipal digital wallet gadget that stores the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes through a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting access to the private key via the network. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it isn’t combat-tested to date. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were in business for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is currently working on adding support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets and promises that it is 100% secure because of its complete separation from any computer or network. Its creators are new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with other wallets. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the history and security features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets, and it’s an extremely new product that’s available.