The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years. Each promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets is becoming increasingly essential. The Ellipal digital wallet device that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. 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 will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes via a camera on the rear of the. This makes it a very secure choice as it removes the possibility of hackers having an access point to your private keys through a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it’s not combat-tested to date. This is something prospective buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) were around for longer and have an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports a limited number of coins 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 might be a worry for some users. However, the company is working to add more support for coins in the near future.
In the end, the Ellipal wallet has been a fresh player in the market of hardware wallets, promising to be completely secure because of its complete separation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s an all-new product that’s available.