The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware on the market in recent years, each promises that digital assets will be secure and safe. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe security for digital asset storage becomes increasingly essential. The Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that has been infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting gain access to private information through the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it’s not battle-tested yet. This is something potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have a established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding more support for coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a fresh player in the hardware wallet market and promises to be completely secure due to its complete isolation from any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other wallets, and it’s an extremely new product that’s available.