The world of cryptocurrency has witnessed a significant rise in the number of wallets that are hardware in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe security for digital asset storage is becoming increasingly important. It is the Ellipal wallet can be described as a device that keeps the private key to digital assets off-line, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim they are completely secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised system that has been infected with viruses Your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using a camera on the back of the. This makes it an extremely safe option since it blocks the possibility of hackers having access to the private key via the network. It’s important to note that this also means that the Ellipal wallet is not as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it has not been combat-tested to date. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add support for more coins in the future.
In the end, the Ellipal wallet is a brand new player on the market for hardware wallets, promising that it is 100% safe due to its total isolation from any computer or network. Its creators are new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with the other options. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as easy for use like other wallets. It’s also an all-new product available on the market.