The cryptocurrency market has seen an significant increase in the number of hardware wallets available on the market in recent years. Each promising that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe the storage and protection of assets becomes more important. Ellipal wallet Ellipal digital wallet gadget that stores the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state that their hardware wallet is 100% safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes via cameras on its rear end. This makes it a very secure choice as it removes the possibility of hackers having access to the private key by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it’s not battle-tested yet. This is something potential buyers need to keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to add support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a fresh competitor in the hardware wallet market that claims to be 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with other wallets. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product on the market.