The cryptocurrency market has seen an significant rise in the number of hardware wallets on the market in recent years, all claims that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. The Ellipal digital wallet tool that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR to a compromised device that is infected with viruses, your private keys remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes through a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of hackers gaining access to the private key through a network connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it has not been tested in battle yet. This is something prospective buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are in business for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add support for more coins in the future.
In the end, it is clear that the Ellipal device is an fresh player in the market of hardware wallets, promising that it is 100% safe due to its total isolation from any computer or network. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with other wallets. Although the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product on the market.