The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years, all claims that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets is becoming increasingly important. The Ellipal wallet is a tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews state that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are made 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 are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers gaining access to the private key through an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new player on the hardware wallet market, promising to be 100% secure due to its complete isolation from any network or computer. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with the other options. Although the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an extremely new product that’s available.