The cryptocurrency market has seen an significant rise in the number of wallets that are hardware in recent years. Each claims that digital assets will be secure and safe. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage becomes increasingly important. The Ellipal wallet is a gadget which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that is infected with viruses, your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers gaining gain access to private information through the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it has not been tested in battle yet. This is something that potential buyers must be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are on the market for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to provide more support for coins in the near future.
In the end In conclusion, the Ellipal wallet has been a fresh player in the market for hardware wallets, promising to be 100% secure due to its complete isolation from any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with its competitors. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy in use as the other hardware wallets, and it’s an all-new product on the market.