The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets becomes increasingly crucial. It is the Ellipal digital wallet tool that stores the private key to digital assets offline, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised computer that has been infected with 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 that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes through a camera on the back of the. This makes it a highly secure choice as it removes the possibility of a hacker getting access to the private key via a network connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it’s not combat-tested to date. This is something prospective buyers should be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been around for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is working to provide more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet is a fresh player on the hardware wallet market and promises to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is in line with its competitors. Although the idea of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also an all-new product on the market.