The world of cryptocurrency has witnessed an significant increase in the number of hardware wallets available in recent years, all claims that digital assets will be secure and safe. The Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly important. The Ellipal wallet is a gadget that keeps the private key to digital assets offline and prevents hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim the hardware wallet as 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 outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised device that has been infected with viruses, your private keys are still safe and secure.
The Ellipal wallet is unique in its design. It is completely isolated from any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys via the network. However, it’s worth noting that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it’s not tested in battle yet. This is something potential buyers need to be aware of when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have a an established track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. The company is working to add more support for coins in the near future.
In the end, the Ellipal wallet is a brand new player in the market for hardware wallets and promises to be completely secure because of its complete inaccessibility to any network or computer. The company behind it is relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with other wallets. 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 prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient to use as other hardware wallets. It’s also an all-new product that’s available.