The world of cryptocurrency has seen a significant increase in the number of wallets that are hardware in recent years, all promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for safe the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets indefinitely, 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 an Indiegogo campaign to finance research and development for their products. The company’s website as well as online reviews state the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of competing companies like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, it is possible to connect your TREZOR with a compromised computer that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through a camera on the rear end. This makes it an extremely secure option as it eliminates the possibility of hackers gaining an access point to your private keys by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it’s not combat-tested to date. This is something that potential buyers need to be aware of when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for longer and have proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to provide the support of more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an fresh player in the market of hardware wallets, promising to be completely secure due to its complete isolation from any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is in line with other wallets. Although the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallet options before making a choice. The final decision about whether 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 user-friendly to use as other wallets. It’s also an extremely new product that’s available.