The world of cryptocurrency has seen an significant rise in the number of hardware wallets in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young 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 that their hardware wallet is completely secure, however, it’s 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 view your private key. In the event that, for instance, you connect your TREZOR on a compromised device which is infected by 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 that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys via a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding the support of more coins in the future.
In the end, the Ellipal device is an brand new player in the market of hardware wallets, promising to be 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.