The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years. Each promises 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 competitors by offering a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe storage of digital assets becomes increasingly essential. The Ellipal digital wallet tool that keeps the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive 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 using a camera on the rear end. This makes it a highly safe option since it blocks the possibility of a hacker having an access point to your private keys through a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, 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 combat-tested to date. This is something that potential buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have an established track record of security.
In terms of coin support, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. However, the company is currently working on adding support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market for hardware wallets, promising to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with the other options. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option with an innovative design, however, it’s not as user-friendly for use like other wallets, and it’s an all-new product on the market.