The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets in recent years, each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund its development. The website of the company and its online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a highly safe option since it blocks the possibility of hackers gaining an access point to your private keys via an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it’s not tested in battle yet. This is something prospective buyers should be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been in business for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, as well as 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 currently working on adding the support of more coins in the near future.
In conclusion, the Ellipal wallet is a brand new competitor in the hardware wallet market and promises to be completely safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with the other options. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other wallets. Additionally, it’s an all-new product that’s available.