The world of cryptocurrency has seen a significant increase in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes more important. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews claim they are 100% safe, however it is important to remember that hardware wallets from 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 with a compromised computer that has been infected with viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers getting access to the private key through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it isn’t combat-tested to date. This is something that potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to provide support for more coins in the future.
In the end, it is clear that the Ellipal device is an brand new player on the market of hardware wallets and promises to be completely secure because of its complete inaccessibility to any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with other wallets. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly to use as other wallets, and it’s a relatively new product on the market.