The cryptocurrency market has seen an significant rise in the number of hardware wallets available on the market in recent years, each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from its competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure the storage and protection of assets becomes more crucial. It is the Ellipal digital wallet tool that stores the private key to digital assets offline, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised computer that is infected with viruses your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers getting an access point to your private keys through a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively new to the market, which implies that it has not been tested in battle yet. This is something prospective buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. But, the company is currently working on adding the support of more coins in the future.
In conclusion In conclusion, the Ellipal device is an brand new player on the market for hardware wallets that claims to be completely secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is in line with its competitors. Although the concept of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s a very secure option that has a modern design but it’s not as convenient to use as other hardware wallets, and it’s an extremely new product on the market.