The cryptocurrency market has seen an significant rise in the number of hardware wallets available in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is a brand new entrant in this field and aims to stand out from the crowd by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread and more commonplace, the need for secure security for digital asset storage becomes more essential. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of competing firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wireless or wired connections. Instead, it communicates via QR codes via a camera on the rear end. This makes it a very safe option since it blocks the possibility of a hacker having gain access to private information through a network connection. However, it’s important to remember 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 costs $149 and is fairly brand new in the marketplace, which implies that it isn’t tested in battle yet. This is something that potential buyers should be aware of when purchasing this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) are around for a longer time and have a proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is working to provide the support of more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an new player on the market of hardware wallets that claims that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with its competitors. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other wallets prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly to use as other wallets, and it’s an extremely new product available on the market.