The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets becomes increasingly essential. It is the Ellipal digital wallet device that stores the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses, your private keys are still safe and secure.
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 connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of hackers having an access point to your private keys by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it’s not combat-tested to date. This is something that potential buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to provide the support of more coins in the future.
In the end it is clear that the Ellipal wallet is a new competitor in the market for hardware wallets and promises to be 100% secure because of its complete separation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other wallets. Additionally, it’s a relatively new product available on the market.