The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware in recent years, all claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe the storage and protection of assets is becoming increasingly important. It is the Ellipal digital wallet tool that stores the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to fund its development. The company’s website and reviews online claim they are 100% secure, but it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR with a compromised system that has been infected with viruses Your private keys are still protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it communicates through QR codes via a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of hackers gaining gain access to private information through an internet connection. It’s important to note that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it isn’t combat-tested to date. This is something that potential buyers need to take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been in business for longer and have a proven track record of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as 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 buyers. But, the company is currently working on adding support for more coins in the near future.
In the end, the Ellipal wallet has been a new player in the market for hardware wallets and promises to be 100% secure because of its complete isolation from any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is on par with the other options. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. It’s also an extremely new product that’s available.