The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets on the market in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage becomes more essential. The Ellipal digital wallet gadget that keeps the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that has been infected with viruses, your private keys will remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it a very safe option since it blocks the possibility of a hacker gaining an access point to your private keys through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it isn’t battle-tested yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add more support for coins in the future.
In conclusion, the Ellipal wallet is a brand new player in the market of hardware wallets and promises to be completely secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security 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 individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product that’s available.