The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years. Each promises to keep digital assets safe and secure. The Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly essential. The Ellipal digital wallet tool that stores the private key to digital assets off-line to prevent hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely disconnected from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes via an image camera at the rear 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 the network. It’s important to note that this also means that the Ellipal wallet isn’t as user-friendly like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet is priced at $149. It is fairly recent to market meaning that it isn’t tested in battle yet. This is something prospective buyers should be aware of when purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR and Ledger) were on the market for longer and have a established track records of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding support for more coins in the near future.
In the end it is clear that the Ellipal wallet is a new player in the hardware wallet market and promises to be completely secure because of its complete isolation from any computer or network. 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 at $149 is comparable with the other options. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the security and track record 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 entirely up to the user. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other hardware wallets. It’s also an all-new product that’s available.