The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure storage of digital assets becomes more essential. It is the Ellipal wallet is a device which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR to a compromised device that has been 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 that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a very secure choice as it removes the possibility of hackers having an access point to your private keys through a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it’s not battle-tested yet. This is something prospective buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide support for more coins in the future.
In the end In conclusion, the Ellipal device is an new player in the hardware wallet market that claims to be 100% secure because of its complete isolation from any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other wallets. Additionally, it’s a relatively new product that’s available.