The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes more crucial. The Ellipal wallet is a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker having an access point to your private keys via an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it has not been combat-tested to date. This is something potential buyers must be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide more support for coins in the near future.
In the end In conclusion, the Ellipal device is an fresh player in the hardware wallet market, promising that it is 100% secure due to its complete separation 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 currently supports a limited number of coins, and its price tag at $149 is comparable with its competitors. Although the concept of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient in use as the other wallets, and it’s an all-new product that’s available.