The cryptocurrency market has witnessed an significant rise in the number of hardware wallets on the market in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is the latest entrant in this field and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes increasingly important. It is the Ellipal wallet is a device that keeps the private key to digital assets off-line to prevent hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are made in a way that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR on a compromised computer that is infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of hackers gaining gain access to private information via an internet connection. However, it’s important to remember that this means the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it’s not battle-tested yet. This is something prospective buyers should be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are in business for longer and have a established track records of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding support for more coins in the future.
In the end it is clear that the Ellipal device is an fresh player on the hardware wallet market that claims that it is 100% secure due to its complete inaccessibility to any network or computer. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with the other options. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets, and it’s a relatively new product that’s available.