The cryptocurrency market has witnessed a significant rise in the number of hardware wallets on the market in recent years, each promises that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets becomes increasingly important. It is the Ellipal digital wallet device that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device which is infected by viruses your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes using cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers gaining an access point to your private keys by an internet connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not combat-tested to date. This is something that potential buyers must take into consideration when buying Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer and have an established track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited 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 might be a worry for some users. However, the company is working to provide the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a brand new player in the market for hardware wallets that claims to be 100% secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with other wallets. Although the concept of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly for use like other hardware wallets. It’s also a relatively new product that’s available.