The world of cryptocurrency has seen an significant rise in the number of hardware wallets on the market in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device that has been infected with viruses, your private keys are still protected and safe.
Its 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 transmits QR codes via an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information via a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add support for more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a new player on the market of hardware wallets that claims that it is 100% safe due to its total inaccessibility to any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with its competitors. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option with a unique design however, it’s not as user-friendly to use as other hardware wallets, and it’s an extremely new product on the market.