The world of cryptocurrency has seen a significant increase in the number of wallets that are hardware in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly essential. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device that is infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes through an image camera at the rear of the. This makes it an extremely safe option since it blocks the possibility of hackers having gain access to private information via the network. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it’s not combat-tested to date. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were in business for a longer time and have a proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding the support of more coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player in the market of hardware wallets, promising to be 100% secure because of its complete isolation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other wallets. Additionally, it’s an all-new product that’s available.