The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years, each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses, your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the back of the. This makes it a highly secure choice as it removes the possibility of hackers having access to the private key through the network. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it isn’t combat-tested to date. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers 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 support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add support for more coins in the near future.
In conclusion In conclusion, the Ellipal device is an new player on the market for hardware wallets that claims to be completely secure due to its complete separation from any network or computer. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets before making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly to use as other wallets. Additionally, it’s a relatively new product on the market.