The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years, all promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes increasingly essential. It is the Ellipal digital wallet device that stores the private key to digital assets indefinitely to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The company’s website as well as online reviews claim they are completely safe, however it is important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For example, even if the TREZOR is connected TREZOR to a compromised computer that is infected with viruses Your private keys are still safe and secure.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using cameras on its rear end. This makes it a very secure option as it eliminates the possibility of a hacker gaining access to the private key via a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it has not been tested in battle yet. This is something that potential buyers must be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were around for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is currently working on adding more support for coins in the future.
In the end, the Ellipal wallet has been a new player in the market of hardware wallets and promises to be 100% safe due to its total inaccessibility to any network or computer. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with the other options. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with a unique design but it’s not as convenient in use as the other hardware wallets, and it’s a relatively new product on the market.