The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years, each claims that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entry into the market and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes increasingly important. The Ellipal digital wallet tool that stores the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim they are completely secure, but it’s important to remember that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that is infected with viruses your private keys remain protected and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it has not been tested in battle yet. This is something potential buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a proven track record of security.
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 fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the hardware wallet market that claims to be completely secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with its competitors. Although the concept of a completely isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product available on the market.