The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for secure the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker having an access point to your private keys by a network connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not combat-tested to date. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are around for longer and have established track records of security.
In terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market of hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any computer or network. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with other wallets. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other hardware wallets, and it’s a relatively new product on the market.