The cryptocurrency market has seen a significant rise in the number of wallets that are hardware in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets is becoming increasingly important. The Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets from rival firms like TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR to a compromised computer that has been infected with viruses, your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes through cameras on its back of the. This makes it a highly safe option since it blocks the possibility of a hacker gaining gain access to private information through an internet connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it’s not tested in battle yet. This is something that potential buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) are around for longer and have proven track record of security.
Regarding support for coins in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is working to add the support of more coins in the near future.
In conclusion, it is clear that the Ellipal wallet has been a new player on the hardware wallet market, promising that it is 100% secure due to its complete isolation from any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with other wallets. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product available on the market.