The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware in recent years, all claims to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread, the need for secure the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For instance, even if you connect your TREZOR with a compromised computer that has been infected with viruses Your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of hackers having access to the private key by a network connection. It’s important to note that this means the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which means that it isn’t combat-tested to date. This is something that potential buyers need to be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for longer and have a proven track record of security.
Regarding support for coins, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, 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 near future.
In the end, it is clear that the Ellipal wallet has been a brand new competitor in the market for hardware wallets and promises that it is 100% secure due to its complete separation from any network or computer. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with the other options. Although the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s a safe option with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an extremely new product available on the market.