The world of cryptocurrency has witnessed an significant increase in the number of wallets that are hardware on the market in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised system which is infected by viruses your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of a hacker having an access point to your private keys by the network. It’s important to note that this means the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it’s not tested in battle yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets that claims that it is 100% safe due to its total isolation from any network or computer. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with the other options. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s an extremely new product available on the market.