The world of cryptocurrency has witnessed an 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. Its Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure storage of digital assets becomes increasingly important. The Ellipal wallet can be described as a device which keeps the private keys to digital assets offline and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as 100% safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised device which is infected by 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, meaning it has no wireless or wired connections. Instead, it transmits QR codes through a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of hackers getting gain access to private information by an internet connection. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t battle-tested yet. This is something that potential buyers should be aware of when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add support for more coins in the future.
In the end In conclusion, the Ellipal device is an brand new player on the market for hardware wallets, promising to be 100% safe due to its total separation from any network or computer. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient for use like other wallets. Additionally, it’s an extremely new product available on the market.