The world of cryptocurrency has witnessed a significant increase in the number of hardware wallets on the market in recent years. Each claims that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for safe the storage and protection of assets becomes increasingly crucial. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state they are completely safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR with a compromised device which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes through cameras on its rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker gaining an access point to your private keys through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market meaning that it’s not tested in battle yet. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) have been on the market for longer and have a an established 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 supports the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is working to provide support for more coins in the near future.
In the end, the Ellipal wallet is a new competitor in the market for hardware wallets and promises to be 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with its competitors. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets before making a choice. The final decision about whether or not the Ellipal wallet is worth the price is up to the individual. It’s a very secure option with a unique design but it’s not as convenient to use as other wallets. Additionally, it’s an extremely new product on the market.