The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets becomes more crucial. It is the Ellipal wallet can be described as a device that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised system which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers having gain access to private information through the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it has not been battle-tested yet. This is something prospective buyers must take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the amount 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 provide the support of more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market for hardware wallets, promising to be 100% secure due to its complete isolation from any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with its competitors. Although the idea of a totally 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 decision. The final decision about whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s an all-new product that’s available.