The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware on the market in recent years, all claims to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR to a compromised system that has been infected with viruses your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it a very safe option since it blocks the possibility of a hacker gaining an access point to your private keys through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it has not been tested in battle yet. This is something potential buyers need to be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have a proven 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 a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a new player on the hardware wallet market that claims to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is in line with the other options. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other wallets, and it’s a relatively new product that’s available.