The cryptocurrency market has seen an significant rise in the number of wallets that are hardware on the market in recent years. Each promising that digital assets will be secure and safe. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more essential. Ellipal wallet Ellipal wallet is a tool that stores the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and online reviews claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For example, even if it is possible to connect your TREZOR to a compromised device which is infected by viruses Your private keys are still secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through cameras on its rear end. This makes it a very secure option as it eliminates the possibility of hackers having gain access to private information by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets, 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 isn’t combat-tested to date. This is something prospective buyers need to be aware of when purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have an established track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some customers. But, the company is working to add more support for coins in the future.
In the end, the Ellipal device is an brand new player in the market for hardware wallets and promises to be completely safe due to its total inaccessibility to any computer or network. Its creators are relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with its competitors. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as easy to use as other hardware wallets. It’s also an all-new product on the market.