The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years, all claims to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace it is becoming more important to secure storage of digital assets becomes more essential. The Ellipal digital wallet tool that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, you connect your TREZOR with a compromised computer that is infected with viruses your private keys are still safe and secure.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates through QR codes using a camera on the rear of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining an access point to your private keys through an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly new to the market, which means that it isn’t combat-tested to date. This is something prospective buyers should keep in mind when considering buying the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were around for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is currently working on adding the support of more coins in the future.
In the end In conclusion, the Ellipal wallet is a new competitor in the market of hardware wallets and promises to be 100% secure because of its complete inaccessibility to any network or computer. Its creators are new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as easy to use as other hardware wallets, and it’s an extremely new product available on the market.