The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more essential. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The company’s website as well as reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system that has been infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it an extremely secure choice as it removes the possibility of hackers getting access to the private key via the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it isn’t tested in battle yet. This is something potential buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for a longer time and have a proven track record of security.
In terms of support for coin, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding more support for coins in the future.
In the end, the Ellipal wallet has been a fresh player on the market for hardware wallets that claims to be 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with the other options. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also a relatively new product available on the market.