The cryptocurrency market has seen a significant rise in the number of hardware wallets available on the market in recent years, each promises to keep digital assets secure and safe. The 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 the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes increasingly crucial. The Ellipal wallet can be described as a tool that stores the private key to digital assets offline and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised computer that is infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information by an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it has not been tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been on the market for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is currently working on adding more support for coins in the near future.
In conclusion In conclusion, the Ellipal wallet is a fresh competitor in the market for hardware wallets, promising to be completely secure because of its complete separation from any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with the other options. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s an extremely new product that’s available.