The world of cryptocurrency has seen a significant rise in the number of hardware wallets available on the market in recent years. Each claims to keep digital assets safe and secure. The Ellipal wallet is a new entrant in this field and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure security for digital asset storage becomes more essential. It is the Ellipal wallet can be described as a device that stores the private key to digital assets off-line to prevent hackers from taking them from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim the hardware wallet as completely safe, however it is important to remember that hardware wallets of rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. In the event that, for instance, you connect your TREZOR with a compromised device that has been infected with viruses, your private keys are still safe and secure.
Ellipal is a unique wallet. 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 cameras on its rear of the. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information by an internet connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which means that it’s not tested in battle yet. This is something potential buyers should take into consideration when buying the Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
Regarding support for coins, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. However, the company is working to add support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market of hardware wallets and promises that it is 100% secure because of its complete isolation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with other wallets. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallet options before making a decision. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient to use as other wallets. It’s also a relatively new product that’s available.