The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, all promising to keep digital assets secure and safe. The Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets is becoming increasingly essential. The Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to note that the hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR to a compromised system which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having access to the private key via a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it isn’t battle-tested yet. This is something prospective buyers need to be aware of when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have a an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide the support of more coins in the future.
In conclusion it is clear that the Ellipal wallet is a brand new competitor in the market for hardware wallets and promises to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with the other options. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record 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 individual. It’s a safe option with a unique design however, it’s not as easy for use like other hardware wallets. Additionally, it’s an all-new product on the market.