The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets on the market in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal wallet is a device that stores the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through a camera on the back of the. This makes it a very secure choice as it removes the possibility of hackers getting gain access to private information through the network. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it has not been tested in battle yet. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet is a fresh player in the market for hardware wallets, promising to be 100% secure because of its complete isolation from any network or computer. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product available on the market.