The cryptocurrency market has seen an significant increase in the number of wallets that are hardware in recent years, each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to safe storage of digital assets becomes more essential. It is the Ellipal digital wallet gadget which keeps the private keys to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim that their hardware wallet is completely secure, but it’s 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 example, even if it is possible to connect your TREZOR to a compromised computer which is infected by viruses Your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates through QR codes using cameras on its rear of the. This makes it a highly safe option since it blocks the possibility of hackers getting access to the private key via an internet connection. However, it’s worth noting that this means 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 costs $149 and is relatively brand new in the marketplace, which implies that it has not been battle-tested yet. This is something potential buyers need to keep in mind when considering purchasing the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been around for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports a limited number of coins that are supported, such as 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. However, the company is working to add more support for coins in the near future.
In the end it is clear that it is clear that the Ellipal device is an brand new player on the market of hardware wallets, promising to be 100% secure due to its complete inaccessibility to any computer or network. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with the other options. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient in use as the other hardware wallets. It’s also an all-new product available on the market.