The world of cryptocurrency has seen a significant increase in the amount of hardware wallets on the market in recent years, all claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet is a gadget that stores the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer that is infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining an access point to your private keys through the network. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something potential buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add more support for coins in the near future.
In the end it is clear that the Ellipal device is an brand new player in the market for hardware wallets, promising to be 100% safe due to its total separation from any network or computer. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with other wallets. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product on the market.