The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years. Each promising that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the 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 is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim they are 100% secure, but it’s important to note that the hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer which is infected by viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t combat-tested to date. This is something potential buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets that claims to be completely secure because of its complete inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with its competitors. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets. Additionally, it’s a relatively new product that’s available.