The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available on the market in recent years. Each promises to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for secure security for digital asset storage becomes more crucial. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are made in a way that no one outside can see your private keys. For instance, even if you connect your TREZOR with a compromised system that has been infected with viruses your private keys are still secure and safe.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes through a camera on the rear end. This makes it a very secure choice as it removes the possibility of a hacker gaining gain access to private information by a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly brand new in the marketplace, which implies that it isn’t combat-tested to date. This is something potential buyers should keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) are in business for longer and have proven track record of security.
Regarding support for coins in terms of coin support, 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 that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is working to add the support of more coins in the near future.
In the end it is clear that the Ellipal wallet has been a fresh player in the market of hardware wallets that claims to be 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price at $149 is comparable with other wallets. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient to use as other hardware wallets, and it’s an all-new product that’s available.