The cryptocurrency market has witnessed an significant increase in the number of hardware wallets available in recent years, all claims to keep digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new entrant in this field and aims to stand out from its competitors by offering an unrivalled solution. As the use of cryptocurrency becomes more mainstream, the need for safe security for digital asset storage is becoming increasingly important. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised system that has been infected with viruses, your private keys will remain protected and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network which means it does not have wireless or wired connections. Instead, it communicates through QR codes via an image camera at the back of the. This makes it a very secure choice as it removes the possibility of hackers having gain access to private information by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it’s not battle-tested yet. This is something prospective buyers need to take into consideration when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been in business for a longer time and have a established track records of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. The company is currently working on adding support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the market of hardware wallets and promises that it is 100% safe due to its total separation from any network or computer. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with other wallets. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal device is well worth the price is entirely up to the user. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other hardware wallets, and it’s an extremely new product available on the market.