The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available in recent years. Each promising to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage is becoming increasingly essential. The Ellipal digital wallet tool which keeps the private keys to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if you connect your TREZOR to a compromised device that is infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker getting gain access to private information via the network. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which implies that it has not been battle-tested yet. This is something that potential buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. However, the company is currently working on adding support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an brand new competitor in the market of hardware wallets that claims to be 100% safe due to its total inaccessibility to any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with its competitors. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a choice. 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 to use as other wallets. It’s also a relatively new product available on the market.