The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new 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 and more commonplace, the need for secure security for digital asset storage becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website and online reviews claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR on a compromised computer that is infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining access to the private key by the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something that potential buyers need to keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around 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 which include 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 could be a problem for some users. The company is currently working on adding the support of more coins in the near future.
In conclusion, the Ellipal wallet is a fresh player in the market for hardware wallets and promises to be completely safe due to its total inaccessibility to any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with other wallets. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other wallets. It’s also an extremely new product that’s available.