The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more crucial. The Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR and 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 to a compromised computer that has been infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker gaining an access point to your private keys by a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers must be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide more support for coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the market of hardware wallets and promises to be 100% secure due to its complete isolation from any network or computer. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with its competitors. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product available on the market.