The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe the storage and protection of assets becomes more essential. The Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR with a compromised computer 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 isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes through a camera on the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining gain access to private information through a network connection. It’s important to note that this also means that the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is fairly recent to market which implies that it has not been tested in battle yet. This is something prospective buyers should take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is working to add more support for coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new player in the hardware wallet market and promises that it is 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with other wallets. While the idea of a fully isolated hardware wallet is intriguing, 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 or not the Ellipal device is well worth the cost is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. It’s also an extremely new product that’s available.