The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets becomes increasingly crucial. It is the Ellipal digital wallet tool that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim they are completely safe, however it is important to remember that hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR to a compromised device that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key through an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which means that it has not been combat-tested to date. This is something potential buyers should keep in mind when considering 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 established track records of security.
Regarding support for coins, the Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding the support of more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the hardware wallet market that claims to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with its competitors. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets before making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an extremely new product on the market.