The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available on the market in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing an unrivalled solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for safe security for digital asset storage is becoming increasingly crucial. The Ellipal digital wallet tool that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR and Ledger are also designed 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 on a compromised device which is infected by viruses your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates via QR codes via cameras on its back of the. This makes it a highly safe option since it blocks the possibility of a hacker having gain access to private information by an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it has not been tested in battle yet. This is something that potential buyers must keep in mind when considering buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have a proven track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding support for more coins in the future.
In the end, the Ellipal wallet is a brand new player on the market for hardware wallets and promises to be completely secure due to its complete isolation from any computer or network. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the price is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also an extremely new product available on the market.