The cryptocurrency market has seen a significant increase in the number of hardware wallets on the market in recent years. Each promises to keep digital assets safe and secure. The Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe security for digital asset storage becomes increasingly important. The Ellipal digital wallet gadget that keeps the private key to digital assets off-line to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The website of the company and its reviews online claim they are 100% safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer that has been infected with viruses, your private keys are still protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via a camera on the back of the. This makes it a highly secure choice as it removes the possibility of hackers gaining an access point to your private keys by the network. It’s important to note that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is relatively recent to market which means that it’s not battle-tested yet. This is something that potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR as well as Ledger) were on the market for a longer time and have a an established track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports only a small number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. However, the company is currently working on adding the support of more coins in the future.
In the end, the Ellipal device is an fresh competitor in the market of hardware wallets that claims to be completely secure because of its complete isolation from any computer or network. The company behind it is relatively new, and the product hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with the other options. While the idea of a completely 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 or not the Ellipal wallet is worth the cost 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 wallets. Additionally, it’s a relatively new product that’s available.