The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets in recent years, each claims that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim the hardware wallet as completely secure, but it’s important to remember that hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR on a compromised computer that has been infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers having gain access to private information by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it has not been battle-tested yet. This is something prospective buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets, promising to be completely secure due to its complete isolation from any network or computer. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with its competitors. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets, and it’s an extremely new product that’s available.