The world of cryptocurrency has witnessed an significant rise in the number of hardware wallets available on the market in recent years. Each promising to keep digital assets safe and secure. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As cryptocurrency usage is becoming more widespread it is becoming more important to secure security for digital asset storage becomes more important. Ellipal wallet Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can see your private keys. For example, even if you connect your TREZOR with a compromised device that is infected with viruses, your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any computer or network, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it a highly secure choice as it removes the possibility of hackers gaining gain access to private information via the network. It’s important to note that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it isn’t combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet makers today (TREZOR and Ledger) were on the market for a longer time and have a proven track record of security.
In terms of coin support, the Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. But, the company is currently working on adding support for more coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the hardware wallet market, promising to be 100% secure because of its complete inaccessibility to 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 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 history and security features of other hardware wallets prior to making a decision. The final decision about whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s a very secure option that has a modern design but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product on the market.