The world of cryptocurrency has seen a significant increase in the number of hardware wallets available on the market in recent years, all promising that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly crucial. The Ellipal digital wallet device that stores the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website and reviews online claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if you connect your TREZOR with a compromised computer which is infected by viruses your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a very secure choice as it removes the possibility of hackers getting an access point to your private keys through the network. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it isn’t combat-tested to date. This is something that potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for a longer time and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add more support for coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the hardware wallet market that claims that it is 100% secure because of its complete separation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient for use like other hardware wallets. Additionally, it’s a relatively new product on the market.