The world of cryptocurrency has seen a significant increase in the number of hardware wallets available in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes more important. The Ellipal digital wallet gadget that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device which is infected by viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of hackers gaining access to the private key by a network connection. It’s important to note that this means the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it’s not battle-tested yet. This is something potential buyers need to take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide the support of more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet is a fresh player in the hardware wallet market and promises to be completely secure because of its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is in line with its competitors. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s a relatively new product that’s available.