The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available on the market in recent years. Each claims to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe the storage and protection of assets becomes more essential. The Ellipal wallet can be described as a tool that stores the private key to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website and online reviews claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that is infected with viruses, your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a highly secure choice as it removes the possibility of hackers getting access to the private key through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it has not been battle-tested yet. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to add support for more coins in the future.
In conclusion it is clear that it is clear that the Ellipal device is an brand new competitor in the market for hardware wallets and promises to be 100% safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with other wallets. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an all-new product that’s available.