The world of cryptocurrency has seen an significant increase in the number of hardware wallets available on the market in recent years, each promising that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for secure security for digital asset storage is becoming increasingly crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them remotely.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses your private keys remain secure and safe.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining gain access to private information via the network. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected 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. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have a established track records of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet 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 may be a concern for some users. The company is working to add support for more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market for hardware wallets, promising to be 100% safe due to its total inaccessibility to any computer or network. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product available on the market.