The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years, each promising to keep digital assets secure and safe. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for secure storage of digital assets becomes more crucial. It is the Ellipal wallet is a device which keeps the private keys to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund its development. The website of the company and its online reviews claim they are 100% secure, but it’s important to remember that hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to access your private keys. For example, even if you connect your TREZOR to a compromised computer 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 computer or network which means it does not have wireless or wired connections. Instead, it transmits QR codes through cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key by an internet connection. It’s important to note that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it has not been tested in battle yet. This is something prospective buyers should keep in mind when considering purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some users. The company is working to provide the support of more coins in the future.
In the end it is clear that it is clear that the Ellipal wallet has been a brand new player on the hardware wallet market and promises to be completely secure due to its complete separation from any computer or network. The company behind it is new and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly for use like other hardware wallets, and it’s an extremely new product available on the market.