The world of cryptocurrency has seen an significant increase in the amount of hardware wallets on the market in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes increasingly important. Ellipal wallet Ellipal wallet is a gadget that stores the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it has not been combat-tested to date. This is something that potential buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for a longer time and have a established track records of security.
Regarding support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide more support for coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet is a new competitor in the market of hardware wallets and promises to be 100% safe due to its total isolation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with its competitors. 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. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also an all-new product that’s available.