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 brand new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for secure security for digital asset storage becomes increasingly important. The Ellipal wallet can be described as a gadget that stores the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim they are completely secure, but it’s important to note that the hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised computer that has been infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is unique 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 using a camera on the back of the. This makes it a highly safe option since it blocks the possibility of hackers getting an access point to your private keys by the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use 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 isn’t tested in battle yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide the support of more coins in the near future.
In conclusion, the Ellipal device is an brand new player in the market for hardware wallets that claims that it is 100% safe due to its total separation from any computer or network. The company behind it is new and the product has not been battle-tested as of yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with other wallets. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product on the market.