The cryptocurrency market has seen a significant rise in the number of hardware wallets in recent years, all promises that digital assets will be secure and safe. The Ellipal wallet is a brand new entry into the market and aims to stand out from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure storage of digital assets is becoming increasingly essential. Ellipal wallet Ellipal wallet can be described as a tool which keeps the private keys to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing companies like TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For instance, even if you connect your TREZOR with a compromised device which is infected by viruses Your private keys remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it communicates through QR codes through a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker getting an access point to your private keys via a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which implies that it isn’t battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) are around for a longer time and have a an established track record of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. The company is working to provide support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market, promising to be 100% safe due to its total separation from any network or computer. The company behind it is new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with other wallets. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option with a unique design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s an extremely new product on the market.