The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. The Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely to prevent hackers from taking their assets 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 the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For instance, even if you connect your TREZOR with a compromised system that has been infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers getting access to the private key via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it has not been combat-tested to date. This is something prospective buyers must take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are around for longer and have established track records of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets and promises that it is 100% secure due to its complete isolation from any computer or network. Its creators are relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with other wallets. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other wallets, and it’s an all-new product on the market.