The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years, each claims that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes more crucial. Ellipal wallet Ellipal wallet is a tool that keeps the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim they are completely safe, however it is important to note that the hardware wallets of competing businesses like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys will remain safe and secure.
The 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 connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it a very secure choice as it removes the possibility of hackers gaining an access point to your private keys by a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it has not been battle-tested yet. This is something that potential buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are on the market for longer 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 the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding support for more coins in the near future.
In conclusion In conclusion, the Ellipal wallet has been a new player on the market of hardware wallets, promising to be 100% safe due to its total isolation from any computer or network. Its creators are relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with other wallets. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other hardware wallets, and it’s an all-new product on the market.