The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets is becoming increasingly essential. The Ellipal wallet is a tool that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website and online reviews claim that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR to a compromised computer that is infected with viruses Your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes using cameras on its rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting access to the private key by the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t so 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 relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something that potential buyers should take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for a longer time and have a established track records of security.
In terms of support for coin In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding more support for coins in the future.
In the end it is clear that the Ellipal wallet is a brand new player on the market of hardware wallets that claims that it is 100% safe due to its total separation from any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallet options before making a decision. The final decision about whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient to use as other wallets. It’s also an extremely new product available on the market.