The cryptocurrency market has seen a significant rise in the number of hardware wallets available in recent years, all promising that digital assets will be safe and secure. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes more essential. It is the Ellipal wallet is a gadget that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website as well as online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of competing businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that has been infected with viruses Your private keys will remain protected and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear end. This makes it a very secure choice as it removes the possibility of hackers gaining an access point to your private keys by a network connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it has not been combat-tested to date. This is something prospective buyers need to keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide more support for coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet is a new competitor in the market for hardware wallets that claims to be completely safe due to its total inaccessibility to any network or computer. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with its competitors. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an all-new product that’s available.