The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware in recent years. Each claims that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes increasingly essential. The Ellipal digital wallet tool that keeps the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim the hardware wallet as completely secure, but it’s important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised device that is infected with viruses, your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through 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 access to the private key by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it isn’t tested in battle yet. This is something potential buyers must keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have a established track records of security.
Regarding support for coins in terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to add the support of more coins in the future.
In the end it is clear that the Ellipal wallet is a brand new player in the market of hardware wallets, promising to be completely secure because of its complete inaccessibility to any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with its competitors. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other hardware wallets, and it’s an all-new product that’s available.