The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure the storage and protection of assets is becoming increasingly essential. The Ellipal wallet can be described as a device which keeps the private keys to digital assets offline and prevents hackers from taking the keys 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 finance the development of their product. The company’s website and reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR to a compromised computer that has been infected with viruses Your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes via cameras on its rear end. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it has not been combat-tested to date. This is something potential buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are around for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small 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 buyers. However, the company is working to provide the support of more coins in the near future.
In the end it is clear that the Ellipal wallet is a brand new player in the hardware wallet market and promises to be 100% safe due to its total inaccessibility to any computer or network. The company behind it is new and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with the other options. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s a relatively new product on the market.