The world of cryptocurrency has seen an significant increase in the amount of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website and online reviews state that their hardware wallet is completely safe, however it is important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer that is infected with viruses, your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes through cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of hackers getting an access point to your private keys via the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it has not been battle-tested yet. This is something that potential buyers must keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) have been around for longer and have an established 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 that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to provide support for more coins in the near future.
In the end, it is clear that the Ellipal wallet has been a fresh competitor in the market of hardware wallets, promising that it is 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with other wallets. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallets prior to making a decision. The final decision about whether the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. Additionally, it’s a relatively new product on the market.