The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes more important. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if you connect your TREZOR with a compromised system that is infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker having gain access to private information via the network. It’s important to note that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it isn’t battle-tested yet. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) were in business for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide more support for coins in the near future.
In the end, it is clear that the Ellipal wallet has been a new player on the market of hardware wallets and promises to be completely secure because of its complete inaccessibility to any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with the other options. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a choice. The final decision about whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other wallets. It’s also a relatively new product on the market.