The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure security for digital asset storage becomes more crucial. The Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of rival 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 the TREZOR is connected TREZOR on a compromised computer which is infected by viruses your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers getting access to the private key through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it isn’t battle-tested yet. This is something potential buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for a longer time and have a established track records of security.
In terms of coin support, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to provide more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new competitor in the market for hardware wallets, promising that it is 100% secure because of its complete isolation from any computer or network. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal wallet is 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 wallets. Additionally, it’s a relatively new product available on the market.