The cryptocurrency market has seen an significant rise in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new competitor in the field, and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe security for digital asset storage becomes increasingly essential. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets offline, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised computer that has been infected with viruses, your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear end. This makes it a very secure choice as it removes the possibility of a hacker having 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 as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding support for more coins in the near future.
In the end In conclusion, the Ellipal wallet is a fresh competitor in the market for hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with the other options. Although the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallets before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with a unique design however, it’s not as easy in use as the other hardware wallets, and it’s an extremely new product available on the market.