The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware on the market in recent years, all claims that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream, the need for secure storage of digital assets is becoming increasingly essential. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the hardware wallet is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses your private keys will remain protected and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any computer or network, meaning it has no wireless or wired connectivity. Instead, it communicates via QR codes through cameras on its back of the. This makes it a highly secure option as it eliminates the possibility of a hacker gaining access to the private key by a network connection. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, meaning that it isn’t tested in battle yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were around for longer and have an established track record of security.
Regarding support for coins In terms of support for coins, the Ellipal wallet is currently able to support a limited number of coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to provide more support for coins in the future.
In the end, it is clear that the Ellipal device is an brand new player in the hardware wallet market, promising to be completely safe due to its total isolation from any network or computer. Ellipal is a company that’s new, and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with its competitors. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallet options before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the person who buys it. It’s a safe option with a unique design but it’s not as convenient in use as the other wallets. Additionally, it’s an extremely new product on the market.