The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years, all promising that digital assets will be secure and safe. The Ellipal wallet is a new entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets is becoming increasingly essential. It is the Ellipal wallet can be described as a device that stores the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state they are completely secure, but it’s important to remember that hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if you connect your TREZOR on a compromised system that has been infected with viruses Your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of hackers having an access point to your private keys by a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it’s not tested in battle yet. This is something prospective buyers need to be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount 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 near future.
In the end, the Ellipal wallet has been a brand new player in the hardware wallet market that claims to be 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is in line with other wallets. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient to use as other wallets. It’s also a relatively new product available on the market.