The world of cryptocurrency has seen an significant rise in the number of hardware wallets available in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state the hardware wallet as completely safe, however it is important to note that the hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR on a compromised system that is infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the back of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining access to the private key via the network. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding more support for coins in the near future.
In conclusion, the Ellipal device is an fresh player in the market of hardware wallets that claims to be completely secure because of its complete separation from any network or computer. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with its competitors. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets. It’s also a relatively new product available on the market.