The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets available on the market in recent years, all promising that digital assets will be secure and safe. The Ellipal wallet is the latest competitor in the field, and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure storage of digital assets becomes more important. The Ellipal digital wallet tool which keeps the private keys to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state they are completely 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 instance, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of a hacker getting gain access to private information via the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it has not been battle-tested yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for a longer time and have a an established 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, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide the support of more coins in the near future.
In conclusion, the Ellipal wallet has been a fresh player in the market for hardware wallets that claims that it is 100% safe due to its total inaccessibility to any network or computer. Its creators are new and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins, and its price tag at $149 is comparable with the other options. While 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 wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option that has a modern design however, it’s not as easy in use as the other wallets, and it’s an all-new product that’s available.