The world of cryptocurrency has seen a significant increase in the amount of hardware wallets available in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, 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 secure security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet is a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website as well as online reviews claim they are completely secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised computer which is infected by viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear end. This makes it an extremely safe option since it blocks the possibility of hackers having access to the private key by the network. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it’s not combat-tested to date. This is something prospective buyers need to take into consideration when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some users. The company is working to add more support for coins in the near future.
In the end, the Ellipal device is an brand new player in the market of hardware wallets, promising to be completely secure because of its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag of $149 is on par with the other options. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the track record and security measures of other hardware wallets before making a decision. The final decision about whether the Ellipal device is well worth the cost is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly to use as other hardware wallets. It’s also an extremely new product that’s available.