The world of cryptocurrency has seen an significant rise in the number of hardware wallets available on the market in recent years, each claims that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets becomes more essential. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young player in 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 claim they are 100% secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses, your private keys are still safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it a very secure choice as it removes the possibility of a hacker having access to the private key through an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not combat-tested to date. This is something potential buyers should take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for a longer time and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with 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 the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a fresh player in the hardware wallet market, promising to be 100% secure because of its complete isolation from any computer or network. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets. It’s also an all-new product that’s available.