The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets available on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is a new competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal digital wallet tool which keeps the private keys to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews claim they are 100% secure, however, it’s important to remember that 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 it is possible to connect your TREZOR on a compromised system that has been infected with viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes using an image camera at the rear end. This makes it a very secure choice as it removes the possibility of hackers gaining gain access to private information via the network. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it’s not battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding the support of more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new player in the hardware wallet market and promises to be 100% secure due to its complete isolation from any computer or network. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price at $149 is comparable with its competitors. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether or not the Ellipal product is worthwhile for the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other wallets, and it’s an all-new product available on the market.