The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware on the market in recent years, each promising to keep digital assets secure and safe. Its Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews claim they are completely safe, however it is important to note that the hardware wallets of rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer which is infected by viruses, your private keys are still safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes through a camera on the rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information by an internet connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it has not been combat-tested to date. This is something potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to add more support for coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the hardware wallet market and promises that it is 100% secure because of its complete isolation from any network or computer. The company behind it is 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 of $149 is in line with the other options. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product that’s available.