The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years. Each promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. It is the Ellipal digital wallet device which keeps the private keys to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and online reviews claim they are completely safe, however it is important to note that the hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR on a compromised system which is infected by 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 which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining an access point to your private keys by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it has not been combat-tested to date. This is something prospective buyers should take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business 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 is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet is a new competitor in the hardware wallet market, promising to be 100% secure due to its complete isolation from any network or computer. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy in use as the other wallets. It’s also an extremely new product available on the market.