The world of cryptocurrency has seen an significant increase in the number of hardware wallets available in recent years, each promises to keep digital assets safe and secure. The Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly essential. The Ellipal digital wallet tool which keeps the private keys to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim they are completely safe, however it is important to remember that 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 you connect your TREZOR on a compromised computer that is infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting an access point to your private keys by the network. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which means that it isn’t combat-tested to date. This is something potential buyers need to take into consideration when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have an established track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add the support of more coins in the near future.
In conclusion it is clear that the Ellipal device is an fresh player on the market for hardware wallets and promises to be 100% secure because of its complete isolation from any network or computer. The company behind it is new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with the other options. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other wallets before making a decision. The final decision about whether the Ellipal device is well 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 easy in use as the other hardware wallets, and it’s an all-new product on the market.