The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years, all claims to keep digital assets secure and safe. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure storage of digital assets becomes increasingly essential. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state they are completely safe, however it is important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if the TREZOR is connected TREZOR to a compromised computer which is infected by viruses, your private keys will remain safe and secure.
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 communicates through QR codes through an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers gaining access to the private key through an internet connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it’s not battle-tested yet. This is something potential buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were around for a longer time and have a established track records of security.
In terms of coin support, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to add support for more coins in the future.
In the end it is clear that the Ellipal wallet is a new player on the hardware wallet market and promises that it is 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s new, and the product has not been tested in battle 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 fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. 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 a relatively new product that’s available.