The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly crucial. It is the Ellipal digital wallet tool that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no one outside can see your private keys. For example, even if you connect your TREZOR on a compromised system that has been infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having access to the private key by an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it has not been combat-tested to date. This is something potential buyers need to take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a new player in the market for hardware wallets, promising to be completely secure because of its complete isolation from any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with its competitors. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s an all-new product that’s available.