The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years, all claims that digital assets will be safe and secure. Its Ellipal wallet is the latest 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 and more commonplace, the need for safe security for digital asset storage becomes more important. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline to prevent hackers from taking them remotely.
Ellipal, the company behind 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 website of the company and its online reviews claim the hardware wallet as completely safe, however it is important to remember that hardware wallets of rival companies like TREZOR as well as Ledger are made in a way that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised computer that has been 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 wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key 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 to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it’s not combat-tested to date. This is something potential buyers should keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been around for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide support for more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet is a brand new player in the market for hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. It’s also an all-new product available on the market.