The cryptocurrency market has seen an significant rise in the number of hardware wallets on the market in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes increasingly crucial. It is the Ellipal wallet is a device that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised computer that is infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes via a camera on the back of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining gain access to private information via a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it has not been tested in battle yet. This is something that potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding the support of more coins in the future.
In conclusion, it is clear that the Ellipal device is an new competitor in the market of hardware wallets that claims to be completely secure because of its complete separation from any computer or network. Its creators are new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the history and security features of other hardware wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an all-new product available on the market.