The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more essential. It is the Ellipal digital wallet device which keeps the private keys to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that has been infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having an access point to your private keys through a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it has not been combat-tested to date. This is something prospective buyers should keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh player in the market for hardware wallets that claims that it is 100% safe due to its total isolation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with other wallets. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy in use as the other wallets. It’s also a relatively new product available on the market.