The cryptocurrency market has seen a significant increase in the number of hardware wallets available on the market in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes more essential. It is the Ellipal digital wallet tool which keeps the private keys to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer that is infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes via cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker having access to the private key by the network. It’s important to note that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it has not been tested in battle yet. This is something prospective buyers need to take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for a longer time and have a established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide the support of more coins in the near future.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player on the market of hardware wallets, promising to be completely secure due to its complete inaccessibility to any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with the other options. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallet options before making a choice. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product on the market.