The world of cryptocurrency has seen a significant increase in the number of hardware wallets in recent years, all claims to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for safe storage of digital assets becomes more essential. The Ellipal digital wallet tool which keeps the private keys to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website and reviews online claim they are 100% safe, however it is important to note that the hardware wallets of competing companies like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device that is infected with viruses Your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes using a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting access to the private key by a network connection. It’s important to note that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it has not been tested in battle yet. This is something potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been 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 a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is working to add more support for coins in the near future.
In the end, it is clear that the Ellipal wallet is a brand new player on the hardware wallet market that claims to be completely secure due to its complete isolation from any computer or network. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with the other options. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient in use as the other hardware wallets. It’s also an all-new product on the market.