The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is a brand 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 it is becoming more important to safe the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. 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 of competing businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses Your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes through cameras on its rear of the. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys via the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it’s not tested in battle yet. This is something potential buyers must take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are around for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding more support for coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an brand new player on the market for hardware wallets that claims that it is 100% secure because of its complete inaccessibility to any network or computer. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with its competitors. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallet options before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s an all-new product on the market.