The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage is becoming increasingly crucial. The Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For instance, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via cameras on its rear of the. This makes it a very safe option since it blocks the possibility of a hacker gaining gain access to private information by the network. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were on the market for longer and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide the support of more coins in the near future.
In the end In conclusion, the Ellipal device is an new competitor in the market of hardware wallets, promising to be completely secure because of its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested 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 the other options. Although the concept of a completely separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual. It’s an extremely secure choice with a unique design however, it’s not as easy to use as other wallets, and it’s an extremely new product that’s available.