The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years, all promising to keep digital assets secure and safe. Its Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure storage of digital assets becomes increasingly essential. It is the Ellipal digital wallet gadget that stores the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR on a compromised device which is infected by viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely unconnected to 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 a hacker having access to the private key through the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something that potential buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is working to add more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet is a fresh competitor in the market for hardware wallets that claims to be completely secure due to its complete isolation from any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. Although the concept of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s a relatively new product on the market.