The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets on the market in recent years. Each claims to keep digital assets secure and safe. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets becomes increasingly crucial. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised device which is infected by viruses your private keys will remain safe and secure.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it a very safe option since it blocks the possibility of a hacker having access to the private key by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it has not been tested in battle yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been on the market for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some customers. The company is working to provide the support of more coins in the near future.
In the end it is clear that the Ellipal wallet is a new player in the market of hardware wallets and promises to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets, and it’s an extremely new product on the market.