The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware on the market in recent years. Each claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe the storage and protection of assets becomes increasingly important. The Ellipal wallet is a tool that stores the private key to digital assets offline and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website and reviews online claim the hardware wallet as completely safe, however it is important to note that the hardware wallets from rival businesses like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses Your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using a camera on the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having gain access to private information through an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it has not been combat-tested to date. This is something prospective buyers must be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some buyers. However, the company is working to add support for more coins in the future.
In the end, the Ellipal wallet is a fresh player in the hardware wallet market that claims that it is 100% secure because of its complete separation from any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is on par with its competitors. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets before making a decision. The final decision about whether the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as easy in use as the other hardware wallets. It’s also an extremely new product on the market.