The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware on the market in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure the storage and protection of assets becomes more crucial. The Ellipal wallet is a gadget that keeps the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of a hacker gaining access to the private key by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, 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. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market that claims to be 100% secure due to its complete separation from any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with other wallets. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient in use as the other hardware wallets, and it’s an all-new product available on the market.