The world of cryptocurrency has witnessed a significant increase in the amount of wallets that are hardware on the market in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe 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 them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website as well as online reviews claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets from rival companies like TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR with a compromised system that has been 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 computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes through an image camera at the rear end. This makes it a very secure choice as it removes the possibility of a hacker having an access point to your private keys through the network. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it’s not battle-tested yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. However, the company is working to add more support for coins in the near future.
In conclusion it is clear that it is clear that the Ellipal device is an fresh competitor in the hardware wallet market that claims to be 100% secure due to its complete separation from any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a fully separated hardware wallet sounds appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s an all-new product on the market.