The world of cryptocurrency has seen a significant increase in the number of hardware wallets available on the market in recent years. Each promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes more crucial. Ellipal wallet Ellipal wallet can be described as a device that stores the private key to digital assets off-line and prevents hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website as well as reviews online claim that their hardware wallet is completely secure, but 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 view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system which is infected by viruses your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any network or computer which means it does not have wireless or wired connectivity. Instead, it transmits QR codes using a camera on the rear end. This makes it an extremely secure choice as it removes the possibility of a hacker gaining an access point to your private keys by an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it’s not tested in battle yet. This is something that potential buyers must be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) have been on the market for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. However, the company is currently working on adding more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an new competitor in the market for hardware wallets and promises to be 100% secure due to its complete inaccessibility to any computer or network. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with other wallets. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, but it’s not as convenient to use as other wallets. It’s also a relatively new product that’s available.