The world of cryptocurrency has seen an significant rise in the number of hardware wallets on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage grows more commonplace and more commonplace, the need for secure storage of digital assets becomes increasingly essential. It is the Ellipal digital wallet tool that stores the private key to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as completely safe, however it is important to remember that hardware wallets of competing companies 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 you connect your TREZOR to a compromised device that is infected with viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connectivity. Instead, it communicates through QR codes via an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of hackers having access to the private key by the network. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not tested in battle yet. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. But, the company is currently working on adding the support of more coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet is a new player on the market of hardware wallets that claims that it is 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware 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 very secure option with a unique design however, it’s not as easy for use like other wallets, and it’s an extremely new product on the market.