The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets on the market in recent years, all promising to keep digital assets safe and secure. The Ellipal wallet is a new competitor in the field, and is aiming to differentiate itself from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets is becoming increasingly important. The Ellipal wallet can be described as a device that stores the private key to digital assets off-line and prevents hackers from taking them remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made 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 to a compromised system that has been infected with viruses, your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design, it is completely unconnected to any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using a camera on the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker getting access to the private key by the network. However, it’s worth noting that this means the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it’s not battle-tested yet. This is something potential buyers need to keep in mind when considering purchasing Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were around for a longer time and have a proven track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet currently supports the following coins: a few which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a brand new player in the market of hardware wallets and promises to be 100% secure due to its complete isolation from any network or computer. Its creators are relatively new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is in line with other wallets. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the track record and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is entirely up to the user. It’s an extremely secure choice 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.