The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR with a compromised computer that has been infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes via an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting access to the private key via an internet connection. It’s important to note that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it has not been tested in battle yet. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have an established track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding more support for coins in the future.
In conclusion In conclusion, the Ellipal wallet is a fresh player on the hardware wallet market that claims that it is 100% safe due to its total isolation from any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with its competitors. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other wallets. It’s also an all-new product on the market.