The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, each claims that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe security for digital asset storage is becoming increasingly essential. The Ellipal wallet is a gadget that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The company’s website and online reviews claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if you connect your TREZOR to a compromised device which is infected by viruses, your private keys are still protected and safe.
Its Ellipal wallet is distinctive 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 via an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of hackers getting access to the private key by the network. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) have been in business for a longer time and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to add support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market for hardware wallets, promising that it is 100% secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with other wallets. Although the idea of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallet options before making a choice. The final decision about whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option with an innovative design, but it’s not as convenient to use as other wallets, and it’s an all-new product on the market.