The world of cryptocurrency has seen an significant rise in the number of hardware wallets in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website and online reviews claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For example, even if you connect your TREZOR with a compromised device which is infected by viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly secure choice as it removes the possibility of a hacker having an access point to your private keys via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it has not been tested in battle yet. This is something potential buyers must be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are in business for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as 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 may be a concern for some customers. However, the company is working to add support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market for hardware wallets and promises to be 100% safe due to its total separation from any computer or network. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with its competitors. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient to use as other hardware wallets. It’s also an extremely new product on the market.