The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware on the market in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more essential. Ellipal wallet Ellipal wallet is a device that keeps the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim they are completely safe, however it is important to note that the hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses your private keys are still safe and secure.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear end. This makes it a very secure option as it eliminates the possibility of hackers gaining gain access to private information through a network connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it’s not combat-tested to date. This is something prospective buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide more support for coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a new competitor in the market for hardware wallets and promises to be 100% secure because of its complete isolation from any computer or network. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with other wallets. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient for use like other hardware wallets, and it’s an extremely new product that’s available.