The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, each claims that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal wallet is a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state they are completely secure, but it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses your private keys remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers having gain access to private information through the network. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it’s not battle-tested yet. This is something potential buyers need to take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to add the support of more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets, promising to be 100% secure because of its complete separation from any network or computer. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with the other options. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly for use like other wallets, and it’s an extremely new product available on the market.