The cryptocurrency market has witnessed a significant increase in the amount of wallets that are hardware in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe security for digital asset storage becomes increasingly important. The Ellipal wallet is a device that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of competing firms 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. For instance, even if it is possible to connect your TREZOR on a compromised computer that has been infected with viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of hackers gaining access to the private key via an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it has not been battle-tested yet. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide more support for coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market that claims that it is 100% secure because of its complete separation from any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other wallets. It’s also an all-new product available on the market.