The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, all promising to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread, the need for safe storage of digital assets becomes increasingly essential. It is the Ellipal digital wallet gadget that keeps the private key to digital assets off-line to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets of rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised device that is infected with viruses your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes through an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key via a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it’s not combat-tested to date. This is something prospective buyers should keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are on the market for a longer time and have a an established track record of security.
In terms of coin support, 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. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding more support for coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a new player on the market of hardware wallets that claims that it is 100% secure due to its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports 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 completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as user-friendly for use like other wallets. Additionally, it’s an extremely new product available on the market.