The world of cryptocurrency has seen a significant increase in the amount of hardware wallets in recent years, all promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new entry into the market and hopes to differentiate from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure storage of digital assets becomes more important. It is the Ellipal wallet is a device that keeps the private key to digital assets indefinitely to prevent hackers from taking the keys remotely.
Ellipal the company that developed the hardware wallet is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets of rival companies like TREZOR and Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised device that is infected with viruses your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes using a camera on the back of the. This makes it a very secure choice as it removes the possibility of a hacker having gain access to private information via an internet connection. However, it’s worth noting that this could mean that the Ellipal wallet is not as convenient to use as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly recent to market meaning that it has not been combat-tested to date. This is something potential buyers must take into consideration when purchasing Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for longer and have established track records of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. However, the company is working to add support for more coins in the future.
In the end, the Ellipal wallet has been a fresh competitor in the market of hardware wallets and promises that it is 100% safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price at $149 is comparable with the other options. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallets prior to making a decision. 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 an extremely secure choice that has a modern design however, it’s not as user-friendly for use like other hardware wallets. Additionally, it’s an extremely new product on the market.