The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware on the market in recent years, all promising to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes more important. The Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses, your private keys are still protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using cameras on its back of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining access to the private key through the network. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t combat-tested to date. This is something prospective buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to add more support for coins in the near future.
In the end, the Ellipal wallet has been a brand new player on the market for hardware wallets and promises to be 100% secure due to its complete separation from any network or computer. Its creators are new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with the other options. Although the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets before making a choice. 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 an innovative design, however, it’s not as easy in use as the other wallets. It’s also a relatively new product that’s available.