The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware on the market in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage is becoming increasingly essential. The Ellipal digital wallet device which keeps the private keys to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system that is infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear of the. This makes it an extremely safe option since it blocks the possibility of a hacker gaining gain access to private information by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it has not been battle-tested yet. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a new player in the hardware wallet market, promising to be 100% safe due to its total isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product that’s available.