The cryptocurrency market has witnessed a significant rise in the number of hardware wallets available on the market in recent years, all claims to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to safe storage of digital assets becomes increasingly essential. The Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews state the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival companies like 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, you connect your TREZOR on a compromised system that is infected with viruses Your private keys are still protected and safe.
Its Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it communicates via QR codes through an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of hackers getting gain access to private information via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively brand new in the marketplace, which implies that it has not been combat-tested to date. This is something that potential buyers must take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR and Ledger) have been 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 supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. The company is currently working on adding the support of more coins in the future.
In the end, the Ellipal wallet is a brand new player in the market of hardware wallets and promises to be completely secure because of its complete inaccessibility to any computer or network. Its creators are new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with the other options. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallets prior to 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 a safe option that has a modern design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product that’s available.