The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet is a gadget that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim they are 100% secure, but it’s important to remember that hardware wallets of rival companies like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses your private keys are still safe and secure.
Ellipal is a unique wallet. 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 communicates via QR codes using a camera on the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key by an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it’s not battle-tested yet. This is something that potential buyers should take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time 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 only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an brand new player on the market for hardware wallets, promising to be completely secure due to its complete isolation from any network or computer. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with its competitors. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product on the market.