The world of cryptocurrency has seen an significant rise in the number of wallets that are hardware on the market in recent years, each claims to keep digital assets secure and safe. The Ellipal wallet is a new entry into the market and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure the storage and protection of assets is becoming increasingly crucial. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets offline and prevents hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim the hardware wallet as completely safe, however it is important to note that the hardware wallets of competing companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. In the event that, for instance, you connect your TREZOR on 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 unconnected to any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes through an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting gain access to private information by a network connection. However, it’s worth noting that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it has not been battle-tested yet. This is something potential buyers must keep in mind when considering buying the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is currently working on adding support for more coins in the future.
In the end, the Ellipal wallet is a new competitor in the market for hardware wallets and promises to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is on par with other wallets. While the idea of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a choice. The final decision about whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s an extremely secure choice with a unique design but it’s not as convenient for use like other hardware wallets. It’s also a relatively new product available on the market.