The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe storage of digital assets becomes increasingly important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website as well as online reviews state they are completely secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys are still safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting an access point to your private keys through an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it isn’t battle-tested yet. This is something prospective buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and 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 buyers. The company is working to add support for more coins in the near future.
In the end, the Ellipal wallet has been a new competitor in the hardware wallet market and promises to be completely secure due to its complete isolation from any computer or network. Its creators are new and the product has not been battle-tested as of 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. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other wallets. Additionally, it’s an all-new product that’s available.