The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available in recent years, all promises that digital assets will be safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe storage of digital assets becomes more crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing their assets from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The company’s website and reviews online claim they are completely safe, however it is important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR to a compromised device that has been infected with viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker getting gain access to private information by the network. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it isn’t tested in battle yet. This is something potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer and have established track records of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently 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 supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to provide more support for coins in the future.
In the end it is clear that it is clear that the Ellipal device is an fresh player on the market for hardware wallets and promises to be completely secure due to its complete isolation from any network or computer. Its creators are new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other wallets. Additionally, it’s an all-new product that’s available.