The cryptocurrency market has seen a significant increase in the number of wallets that are hardware in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream, the need for safe storage of digital assets is becoming increasingly important. Ellipal wallet Ellipal digital wallet device that stores the private key to digital assets off-line and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware 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 that their hardware wallet is completely secure, but it’s important to remember that hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it transmits QR codes via an image camera at the back of the. This makes it a highly safe option since it blocks the possibility of a hacker having an access point to your private keys via an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, meaning that it has not been battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing this Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have an established track record of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding more support for coins in the near future.
In the end, the Ellipal device is an brand new player on the market of hardware wallets, promising to be 100% secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with a limited number of coins and the price of $149 is in line with the other options. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice that has a modern design but it’s not as convenient in use as the other hardware wallets. It’s also a relatively new product that’s available.