The world of cryptocurrency has seen a significant increase in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets secure and safe. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for secure security for digital asset storage is becoming increasingly crucial. The Ellipal digital wallet tool that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews claim they are completely secure, however, it’s important to remember that hardware wallets of rival firms such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private keys. For instance, even if you connect your TREZOR to a compromised device which is infected by viruses, your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers having gain access to private information via a network connection. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market meaning that it has not been combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for longer and have a an established track record of security.
Regarding support for coins, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some users. The company is working to provide support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player in the market for hardware wallets that claims that it is 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is in line with other wallets. Although the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallets before making a choice. The final decision about whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient for use like other wallets, and it’s an extremely new product available on the market.