The cryptocurrency market has witnessed an significant increase in the number of hardware wallets in recent years, each promising that digital assets will be safe and secure. Its Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal digital wallet gadget which keeps the private keys to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website and online reviews state the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device which is infected by viruses Your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key through an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something potential buyers must be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to provide the support of more coins in the future.
In the end In conclusion, it is clear that the Ellipal wallet is a new player in the market of hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. 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 of $149 is on par with its competitors. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient for use like other hardware wallets. It’s also an all-new product on the market.