The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, all promises that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and is aiming to differentiate itself from its rivals by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for safe storage of digital assets becomes more important. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets off-line and prevents hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware component, is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim they are 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that is infected with viruses your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer, meaning it has no wired or wireless connectivity. Instead, it transmits QR codes through cameras on its back of the. This makes it a very secure choice as it removes the possibility of a hacker getting gain access to private information via a network connection. It’s important to note that this means the Ellipal wallet isn’t as user-friendly as other wallets that are hardware-based that can be linked to a computer for easy transactions.
The Ellipal wallet costs $149 and is relatively recent to market which implies that it has not been tested in battle yet. This is something prospective buyers need to be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for longer and have proven track record of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. It is lower 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 working to add the support of more coins in the near future.
In the end it is clear that the Ellipal wallet is a fresh competitor in the market of hardware wallets that claims that it is 100% secure because of its complete isolation from any computer or network. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other hardware wallets. Additionally, it’s an all-new product on the market.