The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for safe security for digital asset storage becomes more crucial. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if you connect your TREZOR to a compromised computer which is infected by viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using cameras on its back of the. This makes it an extremely safe option since it blocks the possibility of hackers having an access point to your private keys by a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it has not been combat-tested to date. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding support for more coins in the future.
In the end, the Ellipal device is an new competitor in the market of hardware wallets and promises that it is 100% secure because of its complete isolation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with its competitors. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a choice. The final decision about whether or not 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 a relatively new product that’s available.