The cryptocurrency market has seen a significant rise in the number of hardware wallets available 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 is aiming to differentiate itself from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for secure security for digital asset storage becomes more essential. It is the Ellipal wallet is a tool that keeps the private key 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. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state they are completely safe, however it is important to keep in mind that hardware wallets of rival companies like TREZOR and Ledger are constructed in a manner that no one outside can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses your private keys will remain secure 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 wireless or wired connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it an extremely safe option since it blocks the possibility of hackers having access to the private key via an internet connection. However, it’s worth noting that this also means that the Ellipal wallet is not as user-friendly like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it’s not combat-tested to date. This is something that potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for longer and have a proven track record of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. But, the company is working to provide more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a new player on the market for hardware wallets, promising to be completely secure due to its complete inaccessibility to any network or computer. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with other wallets. Although the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design however, it’s not as easy to use as other hardware wallets. Additionally, it’s an all-new product that’s available.