The cryptocurrency market has seen a significant increase in the number of wallets that are hardware on the market in recent years, each claims to keep digital assets secure and safe. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure the storage and protection of assets becomes increasingly crucial. It is the Ellipal digital wallet device that stores the private key to digital assets offline to prevent hackers from taking the keys remotely.
Ellipal the company that developed the wallet’s hardware component, is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private keys. For instance, even if you connect your TREZOR to a compromised computer which is infected by viruses your private keys will remain protected and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it communicates via QR codes via a camera on the back of the. This makes it an extremely secure choice as it removes the possibility of a hacker getting an access point to your private keys through a network connection. It’s important to note that this means the Ellipal wallet isn’t as convenient to use like other wallets on hardware that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not battle-tested yet. This is something prospective buyers should keep in mind when considering buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) were around for longer and have an established track record of security.
In terms of coin support in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a fresh player on the market for hardware wallets that claims to be completely secure because of its complete separation from any network or computer. The company behind it is new and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price at $149 is comparable with the other options. Although the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy in use as the other wallets. It’s also a relatively new product that’s available.