The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to finance its development. The company’s website as well as online reviews state they are 100% secure, however, it’s important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR with a compromised system which is infected by viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker getting access to the private key via an internet connection. It’s important to note that this means the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited 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 users. The company is working to provide more support for coins in the near future.
In the end, the Ellipal wallet is a fresh player in the market of hardware wallets that claims to be completely secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with the other options. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s a relatively new product available on the market.