The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available in recent years. Each promises to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal wallet can be described as a device that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses Your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a very secure choice as it removes the possibility of hackers having access to the private key through a network connection. However, it’s important to remember that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it’s not battle-tested yet. This is something prospective buyers need to be aware of when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have a established track records of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is currently working on adding support for more coins in the future.
In the end, it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets and promises to be 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with other wallets. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the track record and security measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient to use as other hardware wallets. Additionally, it’s an extremely new product available on the market.