The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years, all promises to keep digital assets safe and secure. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely and prevents hackers from taking them from a remote location.
Ellipal the company that developed 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 as well as online reviews claim that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR with a compromised device that is infected with viruses your private keys are still safe and secure.
The Ellipal wallet is unique 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 via QR codes via an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having gain access to private information through a network connection. It’s important to note that this means the Ellipal wallet is not so user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, meaning that it has not been battle-tested yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to add more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the hardware wallet market that claims to be completely safe due to its total inaccessibility to any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins, and its price tag of $149 is on par with its competitors. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s a relatively new product available on the market.