The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years, each promising that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure the storage and protection of assets is becoming increasingly essential. The Ellipal digital wallet tool that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets from rival 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 will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of hackers gaining access to the private key by the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something that potential buyers need to take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for a longer time and have a an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add more support for coins in the near future.
In conclusion, the Ellipal wallet has been a fresh player on the market of hardware wallets, promising to be completely secure because of its complete inaccessibility to any network or computer. The company behind it is new, and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is on par with the other options. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product on the market.