The world of cryptocurrency has seen a significant rise in the number of hardware wallets on the market in recent years, all claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets becomes increasingly essential. The Ellipal wallet is a tool that stores the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new 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 that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system which is infected by viruses your private keys will remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of hackers gaining access to the private key through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it’s not combat-tested to date. This is something prospective buyers should be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have a an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as 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 customers. However, the company is working to add support for more coins in the future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the hardware wallet market and promises to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with the other options. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the cost is up to the individual. It’s a very secure option with a unique design but it’s not as convenient to use as other hardware wallets. It’s also an all-new product on the market.