The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years, each promising that digital assets will be secure and safe. 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 the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised device which is infected by viruses, your private keys remain secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes through cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining an access point to your private keys via an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not tested in battle yet. This is something potential buyers should be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for a longer time and have a proven track record of security.
In terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. 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 has been a new player in the hardware wallet market that claims to be completely safe due to its total separation from any computer or network. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with the other options. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product that’s available.