The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets available in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from 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 on a compromised system that has been infected with viruses your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes via a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker having access to the private key by the network. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it has not been tested in battle yet. This is something potential buyers must be aware of when buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is working to add more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an fresh player on the hardware wallet market and promises to be completely safe due to its total isolation from any network or computer. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with other wallets. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on 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 that has a modern design however, it’s not as easy for use like other hardware wallets. Additionally, it’s an extremely new product on the market.