The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes more important. It is the Ellipal wallet is a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR on a compromised computer which is infected by viruses Your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes using an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of a hacker getting an access point to your private keys via an internet connection. It’s important to note that this means the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it isn’t combat-tested to date. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to add the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a new player in the hardware wallet market, promising to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with its competitors. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy in use as the other wallets, and it’s an all-new product that’s available.