The cryptocurrency market has seen an significant increase in the number of wallets that are hardware on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR with a compromised system which is infected by viruses Your private keys are still safe and secure.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of a hacker getting access to the private key by the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively new to the market, meaning that it has not been battle-tested yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have an established track record of security.
In terms of coin support, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is working to add support for more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new player on the market for hardware wallets and promises that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is in line with other wallets. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other wallets, and it’s an extremely new product available on the market.