The world of cryptocurrency has seen an significant rise in the number of hardware wallets in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage is becoming increasingly important. It is the Ellipal wallet is a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website and reviews online claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting access to the private key via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have established track records of security.
In terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide the support of more coins in the near future.
In conclusion, the Ellipal wallet has been a fresh player in the market of hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet 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 exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other wallets, and it’s an all-new product that’s available.