The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available on the market in recent years. Each claims that digital assets will be secure and safe. The Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage is becoming increasingly essential. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The website of the company and its online reviews state they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that has been infected with viruses Your private keys are still protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its back of the. This makes it a very secure option as it eliminates the possibility of a hacker having access to the private key through a network connection. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it isn’t battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
In terms of coin support, the Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount 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 more support for coins in the future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new player in the hardware wallet market and promises that it is 100% safe due to its total separation from any network or computer. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with other wallets. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s a relatively new product that’s available.