The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years, each 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 rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are made in a way that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised device that is infected with viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of hackers having access to the private key via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it has not been combat-tested to date. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have a an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the hardware wallet market, promising to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with its competitors. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware 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 individual. It’s a safe option with an innovative design, but it’s not as convenient in use as the other hardware wallets, and it’s an all-new product available on the market.