The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet is a gadget that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR on a compromised computer which is infected by viruses your private keys will remain safe and secure.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers gaining an access point to your private keys through an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it has not been battle-tested yet. This is something prospective buyers must take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer and have established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding more support for coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a new player on the hardware wallet market, promising to be completely secure because of its complete isolation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an all-new product that’s available.