The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information via the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it’s not battle-tested yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide support for more coins in the near future.
In conclusion, the Ellipal wallet is a new player in the market of hardware wallets that claims to be 100% secure due to its complete separation from any network or computer. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an all-new product on the market.