The cryptocurrency market has seen an significant increase in the amount of hardware wallets in recent years, each promises to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly crucial. The Ellipal digital wallet tool that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim they are 100% secure, but it’s important to note that the hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses Your private keys are still protected and safe.
Its Ellipal wallet is distinctive 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 through QR codes through a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key through an internet connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which implies that it has not been tested in battle yet. This is something prospective buyers should be aware of when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, 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, 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. The company is working to provide more support for coins in the near future.
In the end, it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market, promising that it is 100% safe due to its total isolation from any computer or network. The company behind it is 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 the other options. Although the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a choice. 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 with a unique design but it’s not as convenient in use as the other hardware wallets. It’s also an all-new product available on the market.