The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware in recent years, all promises to keep digital assets secure and safe. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets is becoming increasingly important. It is the Ellipal digital wallet tool that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews state they are 100% safe, however it is important to keep in mind that hardware wallets of competing companies such as TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses, your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using an image camera at the rear end. This makes it a very secure option as it eliminates the possibility of hackers getting an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use 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 fairly brand new in the marketplace, which means that it has not been battle-tested yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have established track records of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited 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. The company is currently working on adding support for more coins in the near future.
In conclusion, it is clear that the Ellipal wallet is a fresh player in the market of hardware wallets, promising that it is 100% secure because of its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price of $149 is in line with its competitors. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the individual. It’s a safe option with a unique design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an all-new product available on the market.