The cryptocurrency market has witnessed an significant increase in the number of hardware wallets on the market in recent years, all claims that digital assets will be secure and safe. Its Ellipal wallet is a new entry into the market and aims to stand out from the crowd by providing a completely isolated solution. As cryptocurrency usage becomes more mainstream, the need for safe security for digital asset storage becomes more important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The company’s website and online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it transmits QR codes through cameras on its rear end. This makes it a very safe option since it blocks the possibility of hackers getting an access point to your private keys via a network connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which implies that it has not been battle-tested yet. This is something that potential buyers need to keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been in business for a longer time and have a proven track record of security.
In terms of coin support In terms of support for coins, the Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some buyers. The company is currently working on adding more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player on the hardware wallet market, promising to be completely secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been battle-tested as of yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with other wallets. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is up to the person who buys it. It’s an extremely secure choice with a unique design however, it’s not as user-friendly in use as the other wallets, and it’s a relatively new product that’s available.