The world of cryptocurrency has seen an significant increase in the amount of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure security for digital asset storage is becoming increasingly crucial. It is the Ellipal digital wallet tool that stores the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state they are 100% safe, however it is important to remember that hardware wallets from rival firms like TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a very safe option since it blocks the possibility of hackers getting gain access to private information by a network connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it’s not battle-tested yet. This is something potential buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are around for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In conclusion In conclusion, the Ellipal device is an brand new competitor in the hardware wallet market and promises to be completely safe due to its total inaccessibility to any network or computer. Its creators are 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 its price tag at $149 is comparable with its competitors. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets, and it’s a relatively new product on the market.