The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years. Each promising that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe the storage and protection of assets becomes more crucial. The Ellipal wallet is a tool that stores the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim the hardware wallet as completely secure, but it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses Your private keys will remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its rear end. This makes it a highly safe option since it blocks the possibility of a hacker getting access to the private key via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not battle-tested yet. This is something that potential buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are in business for longer and have proven track record of security.
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 fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. The company is working to provide more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market that claims to be 100% safe due to its total isolation from any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with other wallets. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record features of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also a relatively new product available on the market.