The world of cryptocurrency has seen a significant increase in the number of wallets that are hardware in recent years. Each promises to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe the storage and protection of assets is becoming increasingly important. It is the Ellipal wallet is a device which keeps the private keys to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim they are 100% safe, however it is important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer which is infected by viruses, your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through a camera on the back of the. This makes it a highly secure choice as it removes the possibility of a hacker getting gain access to private information by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it has not been combat-tested to date. This is something that potential buyers must take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. 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 wallet is a new player on the market of hardware wallets and promises that it is 100% secure because of its complete isolation from any network or computer. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with other wallets. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy for use like other wallets. It’s also an extremely new product on the market.