The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal wallet is a tool which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a very secure choice as it removes the possibility of hackers having an access point to your private keys via the network. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were on the market 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 only a small number of coins, including 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 the support of more coins in the future.
In the end, the Ellipal device is an brand new competitor in the market of hardware wallets, promising to be 100% secure due to its complete isolation from 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 supports the use of a small number of coins and its price of $149 is in line with the other options. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also an all-new product that’s available.