The cryptocurrency market has seen a significant increase in the number of hardware wallets in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure security for digital asset storage becomes more important. It is the Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. For example, even if you connect your TREZOR with a compromised system which is infected by viruses, your private keys are still safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key by an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly new to the market, meaning that it isn’t battle-tested yet. This is something that potential buyers must take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports 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 could be a problem for some buyers. However, the company is working to provide the support of more coins in the near future.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an new player on the market of hardware wallets, promising that it is 100% safe due to its total separation from any network or computer. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with other wallets. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other wallets before making a decision. The final decision about whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product available on the market.