The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out 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 important. It is the Ellipal wallet can be described as a tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website and reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of competing firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers having an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means 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 of today (TREZOR as well as Ledger) were in business for longer and have a an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding the support of more coins in the near future.
In the end it is clear that the Ellipal wallet is a new player in the market of hardware wallets, promising to be 100% 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 is currently compatible with a limited number of coins and the price of $149 is in line with other wallets. Although the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product available on the market.