The world of cryptocurrency has witnessed an significant increase in the amount of hardware wallets available in recent years. Each promises to keep digital assets secure and safe. The Ellipal wallet is a new competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets off-line and prevents hackers from taking their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker having an access point to your private keys through a network connection. However, it’s important to remember that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it has not been battle-tested yet. This is something that potential buyers must keep in mind when considering purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been in business for longer and have a an established track record of security.
In terms of coin support, the Ellipal wallet supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is working to add support for more coins in the future.
In the end it is clear that the Ellipal wallet has been a new player on the market for hardware wallets and promises that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins and the price at $149 is comparable with its competitors. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an all-new product on the market.