The cryptocurrency market has witnessed an significant rise in the number of hardware wallets available on the market in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a gadget 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 is a relatively young player in the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival firms like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device that is infected with viruses Your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting an access point to your private keys via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it isn’t battle-tested yet. This is something that potential buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include 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 could be a problem for some customers. But, the company is working to provide more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet is a brand new player on the hardware wallet market and promises to be completely secure because of its complete separation from any computer or network. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is in line with other wallets. Although the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.