The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website and online reviews claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of rival companies such as TREZOR and Ledger are also designed in a way 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 system that has been infected with viruses, your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key through an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it isn’t combat-tested to date. This is something prospective buyers need to take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a new player in the market for hardware wallets and promises that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with the other options. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallets 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 a safe option with an innovative design, however, it’s not as user-friendly to use as other wallets. It’s also an extremely new product on the market.