The world of cryptocurrency has seen an significant rise in the number of hardware wallets on the market in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets becomes more important. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that is infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting gain access to private information through the network. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it has not been tested in battle yet. This is something prospective buyers should keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide the support of more coins in the near future.
In the end it is clear that the Ellipal wallet has been a brand new player on the market of hardware wallets, promising to be 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s 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 its price tag of $149 is in line with other wallets. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets, and it’s an all-new product available on the market.