The cryptocurrency market has witnessed an significant rise in the number of wallets that are hardware in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage becomes increasingly important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to remember that hardware wallets of rival firms such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your 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 disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of hackers getting access to the private key via the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, meaning that it has not been combat-tested to date. This is something prospective buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time 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 currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to add more support for coins in the near future.
In the end In conclusion, the Ellipal wallet has been a new player in the market of hardware wallets, promising that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with the other options. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets before making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other wallets. It’s also an extremely new product that’s available.