The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years, each promises to keep digital assets 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 unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure the storage and protection of assets becomes more crucial. It is the Ellipal wallet is a tool that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website and reviews online claim the hardware wallet as 100% safe, however it is important to keep in mind that 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 see your private keys. For instance, even if it is possible to connect your TREZOR to a compromised device 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 disconnected from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes through cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of hackers getting an access point to your private keys via the network. However, it’s important to remember that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t tested in battle yet. This is something that potential buyers should be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are in business for a longer time and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide the support of more coins in the near future.
In the end In conclusion, it is clear that the Ellipal wallet has been a new competitor in the market of hardware wallets that claims that it is 100% secure because of its complete isolation 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 its price tag of $149 is on par with its competitors. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets 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 individual. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also a relatively new product available on the market.