The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets in recent years. Each promising that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal wallet is a device that keeps the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer which is infected by viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having access to the private key by a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it has not been tested in battle yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are around for a longer time and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide more support for coins in the near future.
In conclusion it is clear that the Ellipal wallet is a brand new player in the market of hardware wallets, promising that it is 100% safe due to its total inaccessibility to any network or computer. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with the other options. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient in use as the other wallets. Additionally, it’s an extremely new product on the market.