The cryptocurrency market has seen a significant increase in the amount of hardware wallets available on the market in recent years, all promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets becomes increasingly important. It is the Ellipal wallet can be described as a device which keeps the private keys to digital assets off-line to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state they are completely secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected 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 disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key via the network. It’s important to note that this means the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers need to take into consideration when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) are on the market for longer and have established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide the support of more coins in the future.
In conclusion, the Ellipal wallet has been a fresh player on the market for hardware wallets and promises that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets. It’s also a relatively new product on the market.