The cryptocurrency market has witnessed a significant rise in the number of wallets that are hardware on the market in recent years, all promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from the crowd by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal digital wallet tool that stores the private key to digital assets indefinitely to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim they are completely safe, however it is important to note that the hardware wallets of rival businesses like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses Your private keys are still secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the back of the. This makes it an extremely secure option as it eliminates the possibility of a hacker getting gain access to private information through a network connection. It’s important to note that this could mean that the Ellipal wallet is not as user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it’s not battle-tested yet. This is something prospective buyers need to be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have been around for longer and have an established track record of security.
Regarding support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide the support of more coins in the near future.
In the end, the Ellipal wallet has been a new competitor in the market of hardware wallets that claims to be completely secure because of its complete inaccessibility to any computer or network. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for 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 to use as other hardware wallets. It’s also a relatively new product on the market.