The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware in recent years. Each claims to keep digital assets secure and safe. Ellipal is one of them. 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 safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a gadget that stores the private key to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets from rival firms 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 on a compromised computer that is infected with viruses Your private keys remain secure 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 wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a very secure choice as it removes the possibility of a hacker gaining gain access to private information via the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it has not been combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide the support of more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh player in the market of hardware wallets that claims that it is 100% safe due to its total isolation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with its competitors. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets, and it’s an all-new product that’s available.