The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that has been infected with viruses, your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of a hacker gaining access to the private key via the network. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something that potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the 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 conclusion In conclusion, it is clear that the Ellipal wallet is a brand new competitor in the market of hardware wallets, promising to be completely secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with the other options. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product that’s available.