The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available on the market in recent years, each promises that digital assets will be secure and safe. The Ellipal wallet is the latest entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet tool that keeps the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews claim they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear end. This makes it a very secure option as it eliminates the possibility of a hacker having access to the private key through an internet connection. It’s important to note that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which means that it has not been tested in battle yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less 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 provide support for more coins in the near future.
In conclusion In conclusion, the Ellipal wallet has been a new player on the market of hardware wallets and promises to be completely safe due to its total inaccessibility to any network or computer. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is in line with its competitors. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as easy to use as other hardware wallets, and it’s a relatively new product available on the market.