The cryptocurrency market has witnessed an significant rise in the number of hardware wallets in recent years, all promising that digital assets will be safe and secure. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes more essential. The Ellipal digital wallet gadget which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim they are 100% safe, however it is important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device which is infected by viruses, your private keys remain protected 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 via QR codes via an image camera at the rear end. This makes it a very secure choice as it removes the possibility of hackers getting an access point to your private keys by an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it isn’t tested in battle yet. This is something prospective buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading 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 coin support In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the future.
In conclusion In conclusion, the Ellipal device is an new player on the market of hardware wallets that claims that it is 100% safe due to its total separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with other wallets. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets. Additionally, it’s a relatively new product on the market.