The cryptocurrency market has seen an significant rise in the number of hardware wallets in recent years. Each promises to keep digital assets safe and secure. Its Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews state that their hardware wallet is completely secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For example, even if you connect your TREZOR with a compromised system that has been infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes using cameras on its 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 a network connection. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which means that it has not been combat-tested to date. This is something that potential buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were on the market for a longer time and have a an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding the support of more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new competitor in the hardware wallet market, promising to be completely safe due to its total separation from any network or computer. Its creators are relatively new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with the other options. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security features of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other hardware wallets. It’s also an extremely new product available on the market.