The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets becomes more important. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR on a compromised device that is infected with viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers getting gain access to private information through the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that connect 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 prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with 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. The company is currently working on adding support for more coins in the near future.
In the end it is clear that the Ellipal device is an new player on the market for hardware wallets that claims that it is 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s relatively 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 of $149 is on par with the other options. Although the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s a relatively new product that’s available.