The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years, each promising to keep digital assets safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure security for digital asset storage becomes increasingly important. It is the Ellipal digital wallet gadget that keeps the private key 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. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of competing companies like TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised computer which is infected by viruses Your private keys remain safe and secure.
The Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it transmits QR codes using an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting access to the private key by a network connection. It’s important to note that this could mean that 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 retails for $149. It is fairly brand new in the marketplace, which means that it isn’t tested in battle yet. This is something potential buyers need to keep in mind when considering buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for longer and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. The company is working to provide support for more coins in the future.
In conclusion, the Ellipal wallet is a brand new player on the market for hardware wallets and promises to be completely safe due to its total inaccessibility to any network or computer. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with the other options. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s an extremely secure choice with an innovative design, however, it’s not as easy for use like other hardware wallets. It’s also an all-new product on the market.