The world of cryptocurrency has seen a significant rise in the number of hardware wallets in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals 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 increasingly crucial. It is the Ellipal wallet is a tool that keeps the private key to digital assets off-line to prevent hackers from taking them remotely.
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 help fund its development. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR with a compromised device that has been infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining access to the private key through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it’s not combat-tested to date. This is something potential buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have a an established track record of security.
In terms of support for coin 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 that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is currently working on adding the support of more coins in the near future.
In conclusion In conclusion, it is clear that the Ellipal device is an fresh competitor in the market for hardware wallets and promises to be 100% secure due to its complete isolation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with the other options. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient in use as the other hardware wallets. It’s also a relatively new product on the market.