The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance its development. The company’s website as well as online reviews state they are completely secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR on a compromised device that has been infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting gain access to private information by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and 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. The company is working to provide the support of more coins in the future.
In conclusion, it is clear that the Ellipal device is an brand new player on the market for hardware wallets and promises to be completely secure because of its complete isolation from any computer or network. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an extremely new product on the market.