The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available on the market in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more essential. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance its development. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For example, even if you connect your TREZOR with a compromised device that is infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a very safe option since it blocks the possibility of hackers getting access to the private key by an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are on the market for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player on the market of hardware wallets that claims that it is 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other wallets. Additionally, it’s a relatively new product on the market.