The world of cryptocurrency has seen an significant increase in the amount of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure storage of digital assets becomes increasingly essential. The Ellipal wallet is a gadget that stores the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. 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 communicates through QR codes through cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining gain access to private information by a network connection. It’s important to note that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it isn’t tested in battle yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are around for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the 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 more support for coins in the future.
In the end it is clear that the Ellipal device is an new competitor in the hardware wallet market, promising to be completely secure due to its complete inaccessibility to any computer or network. Its creators are new, and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with its competitors. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other wallets. Additionally, it’s an extremely new product that’s available.