The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware in recent years, each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure the storage and protection of assets is becoming increasingly crucial. It is the Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival businesses like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised system that is infected with viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker gaining access to the private key through a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something prospective buyers should take into consideration when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer 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 the support of more coins in the future.
In conclusion, it is clear that the Ellipal wallet has been a fresh player on the market for hardware wallets and promises to be 100% secure due to its complete separation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and its price of $149 is in line with other wallets. Although the concept of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal device is well worth the price is up to the individual. It’s a safe option with a unique design however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product that’s available.