The world of cryptocurrency has seen a significant increase in the amount of wallets that are hardware in recent years, each claims that digital assets will be secure and safe. The Ellipal wallet is a brand new entrant in this field and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for secure security for digital asset storage is becoming increasingly important. The Ellipal digital wallet tool which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website and online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR to a compromised system that has been infected with viruses, your private keys are still secure and safe.
The Ellipal wallet is unique in its design. It is completely unconnected to any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it transmits QR codes via an image camera at the rear of the. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys via a network connection. It’s important to note that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it isn’t battle-tested yet. This is something potential buyers must take into consideration when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have been around for longer and have an established track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to provide support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a new competitor in the market of hardware wallets, promising that it is 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with other wallets. Although the concept of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with an innovative design, but it’s not as convenient to use as other wallets. It’s also an extremely new product that’s available.