The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years. Each promising that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace and more commonplace, the need for safe storage of digital assets becomes more important. The Ellipal digital wallet device that stores the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device which is infected by viruses Your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through an image camera at the back of the. This makes it an extremely secure choice as it removes the possibility of hackers gaining an access point to your private keys through the network. However, it’s important to remember that this could mean that 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 implies that it isn’t tested in battle yet. This is something prospective buyers should be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been on the market for longer and have proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which could be a problem 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 the Ellipal wallet has been a brand new player in the market of hardware wallets, promising that it is 100% secure due to its complete separation from any computer or network. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with the other options. Although the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other hardware wallet options before 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 an innovative design, but it’s not as convenient in use as the other hardware wallets. It’s also an extremely new product on the market.