The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes more essential. The Ellipal digital wallet device that stores the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website and online reviews claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival firms such as 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 to a compromised system which is infected by viruses, your private keys are still 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 wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the back of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining access to the private key via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet is a brand new competitor in the hardware wallet market and promises that it is 100% secure due to its complete isolation from any computer or network. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with the other options. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other wallets, and it’s an extremely new product available on the market.