The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR to a compromised computer which is infected by viruses, your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers gaining an access point to your private keys by the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for a longer time and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add the support of more coins in the future.
In conclusion In conclusion, the Ellipal device is an fresh player on the market of hardware wallets and promises that it is 100% secure due to its complete isolation from any computer or network. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with the other options. Although the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product available on the market.