The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets on the market in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure the storage and protection of assets is becoming increasingly important. Ellipal wallet 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 young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with 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, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker having 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 wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not combat-tested to date. This is something potential buyers should keep in mind when considering purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have a proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide more support for coins in the near future.
In the end it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets, promising that it is 100% secure because of its complete isolation from any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with other wallets. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallets before making a decision. 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 an extremely secure choice with a unique design but it’s not as convenient in use as the other wallets. Additionally, it’s a relatively new product on the market.