The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young company on the market. They raised $55K in an Indiegogo campaign to fund its development. The website of the company and its online reviews state they are completely secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are made in a way that no one outside can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system that is infected with viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers having access to the private key by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which implies that it’s not battle-tested yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are in business for a longer time and have a an established track record of security.
In terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to provide support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a brand new player in the market for hardware wallets, promising that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with the other options. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets, and it’s a relatively new product available on the market.