The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews claim the hardware wallet as 100% safe, however it is important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised device that has been infected with viruses Your private keys remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) were around for longer and have an established track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide the support of more coins in the future.
In conclusion In conclusion, the Ellipal wallet is a fresh competitor in the market for hardware wallets, promising that it is 100% secure because of its complete isolation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with the other options. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product that’s available.