The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new entrant in this 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 secure storage of digital assets is becoming increasingly essential. The Ellipal wallet can be described as a device which keeps the private keys to digital assets offline and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website and reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no one outside can see your private keys. For example, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it a very secure choice as it removes the possibility of hackers having an access point to your private keys via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it’s not tested in battle yet. This is something potential buyers must be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is currently working on adding support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market for hardware wallets, promising that it is 100% safe due to its total separation from any network or computer. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets, and it’s a relatively new product available on the market.