The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available on the market in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes more important. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised device that has been infected with viruses, your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers having access to the private key by a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it has not been combat-tested to date. This is something potential buyers must take into consideration when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide support for more coins in the near future.
In the end In conclusion, it is clear that the Ellipal device is an fresh competitor in the market for hardware wallets and promises that it is 100% secure due to its complete isolation from any computer or network. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the 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 security and track record measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s a very secure option with a unique design but it’s not as convenient for use like other wallets. Additionally, it’s an all-new product on the market.