The world of cryptocurrency has seen a significant increase in the number of wallets that are hardware in recent years. Each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes increasingly essential. The Ellipal digital wallet tool that stores the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to note that the 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. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes using a camera on the back of the. This makes it a highly secure choice as it removes the possibility of a hacker getting gain access to private information through the network. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it’s not tested in battle yet. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have established track records of security.
Regarding support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to add the support of more coins in the future.
In conclusion, the Ellipal wallet is a new player in the hardware wallet market, promising to be completely secure because of its complete separation from any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with its competitors. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option that has a modern design however, it’s not as easy in use as the other wallets, and it’s an all-new product on the market.