Skip to main content

Ellipal Multicoin Wallet

The world of cryptocurrency has seen an significant increase in the amount of hardware wallets in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes more essential. The Ellipal digital wallet tool that keeps the private key to digital assets offline, preventing hackers from stealing the keys from a remote location.

Ellipal the company that developed the hardware wallet is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to note that the hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR with a compromised computer that is infected with viruses Your private keys are still protected and safe.

Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers getting gain access to private information through an internet connection. It’s important to note that this means the Ellipal wallet is not as user-friendly like other wallets on hardware that connect to a computer for simple transactions.

The Ellipal wallet costs $149 and is relatively brand new in the marketplace, meaning that it isn’t combat-tested to date. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for a longer time and have a proven track record of security.

In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding 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 hardware wallet market that claims to be completely secure because of its complete inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been tested in battle 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 the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other wallets, and it’s an extremely new product that’s available.