The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly important. The Ellipal wallet is a gadget that stores the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim they are 100% safe, however it is important to remember that hardware wallets from rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, you connect your TREZOR on a compromised device that has been infected with viruses your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. 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 an access point to your private keys through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it has not been battle-tested yet. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to add the support of more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market for hardware wallets, promising that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with other wallets. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an extremely new product on the market.