The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets available on the market in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly important. The Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new player 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 claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are made in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR on a compromised computer that has been infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a very secure choice as it removes the possibility of hackers gaining an access point to your private keys by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it isn’t tested in battle yet. This is something prospective buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are on the market for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide the support of more coins in the near future.
In conclusion it is clear that the Ellipal wallet has been a brand new competitor in the hardware wallet market and promises to be 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets before making a decision. The final decision about whether the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option with an innovative design, but it’s not as convenient to use as other hardware wallets. It’s also a relatively new product that’s available.