The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets is becoming increasingly crucial. The Ellipal wallet is a tool that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR on a compromised computer that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of hackers having gain access to private information by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it has not been tested in battle yet. This is something that potential buyers need to take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few 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 may be a concern for some users. The company is working to provide support for more coins in the future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an new player in the market of hardware wallets that claims that it is 100% secure because of its complete separation from any network or computer. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with other wallets. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other wallets. It’s also an extremely new product on the market.