The cryptocurrency market has witnessed a significant increase in the number of hardware wallets on the market in recent years, each promises to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets becomes increasingly essential. It is the Ellipal wallet is a device that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets of competing companies like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer that is infected with viruses your private keys are still safe and secure.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker getting gain access to private information by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it isn’t combat-tested to date. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around 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 is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a fresh competitor in the hardware wallet market, promising that it is 100% safe due to its total separation from any network or computer. The company behind it is new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. Although the concept of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product on the market.