The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets becomes more important. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR to a compromised system that has been infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers having an access point to your private keys via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it isn’t combat-tested to date. This is something potential buyers should take into consideration when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have a proven track record of security.
Regarding support for coins 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 which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to provide support for more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an new player in the market of hardware wallets that claims to be 100% secure because of its complete separation from any network or computer. Ellipal is a company that’s 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 the price of $149 is in line with the other options. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s an extremely new product available on the market.