The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes more essential. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are made in a way that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised computer which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very safe option since it blocks the possibility of a hacker getting gain access to private information through the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it isn’t combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide more support for coins in the near future.
In the end, the Ellipal wallet is a new player on the hardware wallet market that claims to be 100% secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with its competitors. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the price is entirely up to the user. 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 extremely new product on the market.