The world of cryptocurrency has witnessed a significant rise in the number of hardware wallets on the market in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For example, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting gain access to private information through an internet connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it has not been combat-tested to date. This is something prospective buyers must keep in mind when considering buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for a longer time and have a proven track record of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to provide the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal device is an new competitor in the market of 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 has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with its competitors. Although the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallets before making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as user-friendly to use as other hardware wallets. Additionally, it’s a relatively new product on the market.