The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for secure security for digital asset storage becomes more crucial. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews state they are 100% secure, however, it’s important to note that the hardware wallets of rival firms like TREZOR as well as Ledger are made in a way that no one outside can see your private keys. For example, even if you connect your TREZOR with a compromised computer that has been infected with viruses your private keys are still secure and safe.
Ellipal is a unique wallet. 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 connectivity. Instead, it transmits QR codes through an image camera at the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker getting access to the private key by the network. However, it’s worth noting that this could mean 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 simple transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for a longer time and have a established track records of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide the support of more coins in the future.
In the end, the Ellipal wallet is a fresh player on the market of hardware wallets and promises that it is 100% secure due to its complete separation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with the other options. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets before making a decision. In the end, the decision on whether the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as user-friendly for use like other wallets, and it’s an all-new product that’s available.