The world of cryptocurrency has seen an significant rise in the number of hardware wallets in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage is becoming more widespread, the need for secure storage of digital assets is becoming increasingly crucial. The Ellipal digital wallet tool which keeps the private keys to digital assets off-line, preventing hackers from stealing them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR on a compromised system that is infected with viruses your private keys remain secure and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design, it is completely isolated from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes via a camera on the rear of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining an access point to your private keys by the network. However, it’s worth noting that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it isn’t tested in battle yet. This is something potential buyers must be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were on the market for longer and have an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few that are supported, such as 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. But, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a brand new player on the market of hardware wallets and promises that it is 100% secure because of its complete separation from any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with the other options. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets. It’s also an all-new product that’s available.