The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years, all promising that digital assets will be safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage becomes increasingly crucial. It is the Ellipal digital wallet tool that keeps the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses your private keys are still protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes using an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of hackers getting access to the private key via the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it’s not battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide the support of more coins in the future.
In the end, it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market that claims to be completely secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the track record and security features of other hardware wallets before making a decision. 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 an extremely secure choice with an innovative design, but it’s not as convenient in use as the other wallets. Additionally, it’s a relatively new product available on the market.