The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes more important. The Ellipal wallet can be described as a tool that stores the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund its development. The website of the company and its online reviews state they are completely secure, but it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised device that has been infected with viruses Your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining access to the private key through a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it isn’t tested in battle yet. This is something that potential buyers should take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is currently working on adding the support of more coins in the future.
In the end it is clear that the Ellipal wallet has been a fresh player in the market for hardware wallets that claims to be completely secure because of its complete isolation from any network or computer. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with its competitors. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option with a unique design but it’s not as convenient in use as the other wallets, and it’s a relatively new product that’s available.