The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets in recent years, each promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes increasingly essential. The Ellipal wallet is a device that keeps the private key to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim they are 100% secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer that is infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining gain access to private information through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it’s not combat-tested to date. This is something that potential buyers must take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were around for longer and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide the support of more coins in the near future.
In conclusion, the Ellipal wallet has been a fresh competitor in the market of hardware wallets, promising to be completely safe due to its total isolation from any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient to use as other hardware wallets. It’s also a relatively new product that’s available.