The cryptocurrency market has witnessed a significant rise in the number of hardware wallets on the market in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets becomes increasingly important. The Ellipal digital wallet tool that stores the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim they are completely secure, however, it’s important to remember that hardware wallets from rival firms such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key via a network connection. It’s important to note that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it has not been combat-tested to date. This is something that potential buyers should be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were around for a longer time and have a proven track record of security.
Regarding support for coins in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding more support for coins in the future.
In conclusion it is clear that the Ellipal wallet has been a brand new player on the market for hardware wallets and promises to be 100% secure due to its complete separation from any network or computer. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with other wallets. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as easy for use like other wallets. It’s also a relatively new product on the market.