The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure storage of digital assets becomes more important. Ellipal wallet Ellipal digital wallet device which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of rival companies like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR with a compromised system that is infected with viruses, your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear of the. This makes it a very safe option since it blocks the possibility of a hacker getting access to the private key via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer and have a 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 currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a new player on the hardware wallet market, promising to be completely safe due to its total separation from any network or computer. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with other wallets. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets. Additionally, it’s an extremely new product that’s available.