The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware in recent years, all promising to keep digital assets secure and safe. The Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device which is infected by viruses Your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining gain access to private information via the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t tested in battle yet. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide the support of more coins in the future.
In the end, the Ellipal wallet has been a new competitor in the hardware wallet market that claims that it is 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with other wallets. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly to use as other hardware wallets, and it’s a relatively new product available on the market.