The cryptocurrency market has witnessed an significant rise in the number of hardware wallets on the market in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets becomes increasingly important. The Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim they are 100% safe, however it is important to remember that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised computer that has been infected with viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it a very safe option since it blocks the possibility of a hacker having access to the private key by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for a longer time and have a proven 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 along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide more support for coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new player in the market for hardware wallets and promises that it is 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an extremely new product on the market.