The world of cryptocurrency has witnessed a significant rise in the number of wallets that are hardware on the market in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes increasingly crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses, your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a very secure option as it eliminates the possibility of a hacker having an access point to your private keys by the network. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it isn’t tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is currently working on adding more support for coins in the near future.
In conclusion In conclusion, the Ellipal wallet has been a new competitor in the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, but it’s not as convenient for use like other wallets. Additionally, it’s an extremely new product on the market.