The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe security for digital asset storage becomes more important. The Ellipal digital wallet tool that keeps the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund its development. The website of the company and its online reviews claim they are completely safe, however it is important to remember that hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a highly secure choice as it removes the possibility of hackers getting an access point to your private keys via the network. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market which implies that it isn’t battle-tested yet. This is something potential buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are around for longer and have proven track record of security.
In terms of coin support 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 number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. But, the company is working to provide more support for coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new player on the hardware wallet market that claims to be completely safe due to its total isolation from any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with its competitors. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product available on the market.