The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage becomes more important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device that has been infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of a hacker having gain access to private information through an internet connection. It’s important to note that this means the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it isn’t combat-tested to date. This is something prospective buyers need to be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding support for more coins in the future.
In the end, it is clear that the Ellipal device is an brand new competitor in the market of hardware wallets and promises to be completely secure due to its complete isolation from any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with its competitors. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient in use as the other wallets, and it’s a relatively new product available on the market.