The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years, each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure storage of digital assets is becoming increasingly important. The Ellipal digital wallet tool that stores the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware 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 that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR to a compromised device that is infected with viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of hackers having an access point to your private keys via an internet connection. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it’s not battle-tested yet. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to provide the support of more coins in the future.
In the end, it is clear that the Ellipal device is an brand new player on the market of hardware wallets and promises to be 100% secure due to its complete inaccessibility to any network or computer. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with the other options. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product available on the market.