The world of cryptocurrency has seen a significant increase in the number of hardware wallets on the market in recent years. Each claims to keep digital assets safe and secure. Its Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe storage of digital assets becomes more important. It is the Ellipal digital wallet tool which keeps the private keys 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 competitor in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely secure, but it’s important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For instance, even if you connect your TREZOR on a compromised system that is infected with viruses your private keys are still safe and secure.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting an access point to your private keys through the network. However, it’s worth noting that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively brand new in the marketplace, which implies that it has not been battle-tested yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for longer and have a proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide support for more coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player on the market for hardware wallets and promises to be 100% secure due to its complete inaccessibility to any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other wallets. Additionally, it’s an extremely new product that’s available.