The cryptocurrency market has seen a significant rise in the number of wallets that are hardware on the market in recent years. Each promises that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses, your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having gain access to private information via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it’s not battle-tested yet. This is something potential buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
In terms of coin support 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, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal device is an new player on the market for hardware wallets and promises that it is 100% safe due to its total isolation from any network or computer. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is in line with its competitors. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is 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 user-friendly to use as other wallets. It’s also an extremely new product on the market.