The cryptocurrency market has seen a significant increase in the amount of hardware wallets in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the 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 instance, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses Your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker getting gain access to private information through the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it’s not combat-tested to date. This is something that potential buyers should take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for longer and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is currently working on adding the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market of hardware wallets, promising to be 100% safe due to its total separation from any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with other wallets. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a very secure option with an innovative design, but it’s not as convenient for use like other hardware wallets. It’s also an extremely new product available on the market.