The cryptocurrency market has seen a significant rise in the number of hardware wallets on the market in recent years, each promising to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for safe the storage and protection of assets is becoming increasingly crucial. It is the Ellipal digital wallet tool that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state they are 100% secure, however, it’s important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if you connect your TREZOR to a compromised system that has been infected with viruses Your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker having an access point to your private keys via the network. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it’s not battle-tested yet. This is something that potential buyers need to be aware of when purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is currently working on adding more support for coins in the future.
In conclusion it is clear that the Ellipal device is an new player on the hardware wallet market, promising that it is 100% secure because of its complete isolation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with other wallets. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option with a unique design however, it’s not as easy for use like other wallets. It’s also an extremely new product that’s available.