The cryptocurrency market has seen an significant rise in the number of hardware wallets in recent years. Each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes more crucial. It is the Ellipal digital wallet tool that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim they are 100% safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR on a compromised device that is infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes using cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key through the network. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it has not been battle-tested yet. This is something that potential buyers need to keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add support for more coins in the near future.
In the end In conclusion, the Ellipal wallet is a new competitor in the hardware wallet market and promises to be completely secure because of its complete isolation from any network or computer. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with other wallets. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient for use like other wallets. Additionally, it’s an extremely new product that’s available.