The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets in recent years, all promising that digital assets will be secure and safe. 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 the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state they are completely safe, however it is important to note that the hardware wallets from rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system which is infected by viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a highly safe option since it blocks the possibility of hackers gaining an access point to your private keys through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for longer and have a an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. 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 less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is working to provide support for more coins in the future.
In the end it is clear that the Ellipal wallet has been a new player in the market of hardware wallets that claims that it is 100% safe due to its total inaccessibility to any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with other wallets. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other hardware wallets, and it’s an extremely new product that’s available.