The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all claims that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes more crucial. The Ellipal digital wallet device that stores the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information by the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it’s not tested in battle yet. This is something potential buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is currently working on adding support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market for hardware wallets and promises that it is 100% secure because of its complete isolation from any network or computer. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with its competitors. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy for use like other wallets, and it’s an extremely new product on the market.