The world of cryptocurrency has witnessed an significant increase in the amount of wallets that are hardware on the market in recent years. Each promising to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for secure storage of digital assets becomes more essential. It is the Ellipal digital wallet tool that stores the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews state the hardware wallet as 100% safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses Your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design, it is completely isolated from any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of a hacker getting access to the private key by the network. However, it’s worth noting that this means the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it’s not combat-tested to date. This is something potential buyers should take into consideration when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for longer and have a established track records of security.
In terms of coin support, 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 less 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 it is clear that it is clear that the Ellipal wallet has been a new competitor in the market for hardware wallets, promising to be completely secure because of its complete separation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports only a few coins and the price at $149 is comparable with other wallets. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option with an innovative design, however, it’s not as easy to use as other wallets, and it’s an extremely new product on the market.