The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes increasingly essential. The Ellipal digital wallet tool which keeps the private keys to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state they are completely safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses Your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers gaining an access point to your private keys through a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it isn’t tested in battle yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have been on the market for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide more support for coins in the near future.
In the end In conclusion, the Ellipal wallet has been a new competitor in the market of hardware wallets, promising to be completely safe due to its total isolation from any network or computer. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product available on the market.