The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. Its Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal digital wallet device that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device which is infected by viruses your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very secure option as it eliminates the possibility of hackers getting gain access to private information by a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it has not been combat-tested to date. This is something that potential buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add more support for coins in the future.
In conclusion it is clear that the Ellipal wallet has been a brand new player in the hardware wallet market that claims to be completely safe due to its total isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient for use like other wallets. Additionally, it’s an all-new product available on the market.