The cryptocurrency market has witnessed a significant rise in the number of hardware wallets in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entry into the market and aims to stand out from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets becomes more crucial. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state the hardware wallet as completely safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer which is infected by viruses your private keys remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers having access to the private key by 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, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it has not been battle-tested yet. This is something potential buyers need to be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to provide the support of more coins in the future.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a fresh player on the market of hardware wallets that claims to be completely secure due to its complete separation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with its competitors. Although the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a very secure option with an innovative design, but it’s not as convenient in use as the other hardware wallets, and it’s an all-new product available on the market.