The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years, each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure storage of digital assets is becoming increasingly crucial. The Ellipal digital wallet device that keeps the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR with a compromised computer that has been infected with viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes using cameras on its 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. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something prospective buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal device is an brand new player on the market of hardware wallets and promises to be 100% safe due to its total separation from any network or computer. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with other wallets. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient for use like other hardware wallets. It’s also a relatively new product on the market.