The world of cryptocurrency has seen an significant increase in the number of wallets that are hardware in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets becomes more essential. It is the Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website as well as reviews online claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are made in a way that no attacker from outside is able to 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 remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a very secure choice as it removes the possibility of hackers getting an access point to your private keys through the network. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which means that it has not been tested in battle yet. This is something prospective buyers must be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide more support for coins in the near future.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a new player in the hardware wallet market and promises that it is 100% safe due to its total separation from any computer or network. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with the other options. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option with a unique design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an extremely new product available on the market.