The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets in recent years, each claims 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 the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes more essential. The Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys 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 an Indiegogo campaign to fund its development. The company’s website and online reviews state that their hardware wallet is 100% safe, however it is important to remember that hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR with a compromised device that has been infected with viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key via the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it has not been battle-tested yet. This is something that potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a new player in the market of hardware wallets, promising that it is 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with its competitors. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other hardware wallets, and it’s an all-new product available on the market.