The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is the latest 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, the need for secure security for digital asset storage is becoming increasingly crucial. It is the Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR on a compromised computer that has been infected with viruses, your private keys are still 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 wireless or wired connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker having access to the private key 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 for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it isn’t battle-tested yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add more support for coins in the future.
In the end, it is clear that the Ellipal wallet is a brand new competitor in the hardware wallet market that claims to be 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price at $149 is comparable with its competitors. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient for use like other wallets. Additionally, it’s a relatively new product that’s available.