The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets is becoming increasingly essential. The Ellipal digital wallet gadget which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to fund its development. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it a highly safe option since it blocks the possibility of a hacker having access to the private key by a network connection. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it isn’t battle-tested yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to add more support for coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the market of hardware wallets and promises that it is 100% safe due to its total isolation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with its competitors. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with a unique design but it’s not as convenient to use as other wallets. It’s also an extremely new product that’s available.