The world of cryptocurrency has seen an significant increase in the amount of hardware wallets on the market in recent years, all promises that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a 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, the need for safe the storage and protection of assets becomes more important. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets offline, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware component is a relatively young player in the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state they are completely safe, however it is important to note that the hardware wallets of competing businesses like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised system which is infected by viruses your private keys are still safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its back of the. This makes it an extremely secure option as it eliminates the possibility of hackers gaining an access point to your private keys through an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t so user-friendly as other hardware wallets that can be linked to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it isn’t battle-tested yet. This is something potential buyers must keep in mind when considering buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
In terms of support for coin, the Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is currently working on adding the support of more coins in the future.
In the end, the Ellipal device is an new competitor in the market of hardware wallets, promising to be completely safe due to its total separation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with its competitors. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets before making a decision. 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 a safe option that has a modern design but it’s not as convenient for use like other hardware wallets, and it’s an extremely new product on the market.