The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years, all promises to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes increasingly essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews state the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing firms like TREZOR and Ledger are made in a way that no one outside can see your private keys. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes through a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting an access point to your private keys by an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something that potential buyers must take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have a proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding support for more coins in the future.
In the end In conclusion, the Ellipal device is an brand new competitor in the hardware wallet market and promises to be completely safe due to its total separation from any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with other wallets. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other wallets. It’s also an all-new product available on the market.