The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets in recent years, all promising to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure security for digital asset storage becomes increasingly important. It is the Ellipal digital wallet tool that stores the private key to digital assets offline to prevent hackers from taking their assets remotely.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised device 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 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 option as it eliminates the possibility of hackers getting gain access to private information by an internet connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it’s not tested in battle yet. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for longer and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide the support of more coins in the near future.
In the end In conclusion, the Ellipal wallet has been a new player on the market for hardware wallets that claims to be 100% safe due to its total isolation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with its competitors. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. The final decision about whether 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 user-friendly for use like other hardware wallets, and it’s an extremely new product that’s available.