The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets is becoming increasingly important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of rival firms such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR on a compromised device that is infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. 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 transmits QR codes via a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker getting an access point to your private keys by a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is working to add the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a brand new player on the market for hardware wallets that claims that it is 100% secure because of its complete 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 only a few coins and its price of $149 is on par with its competitors. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient to use as other hardware wallets. Additionally, it’s an all-new product that’s available.