The cryptocurrency market has seen an significant increase in the amount of hardware wallets on the market in recent years, each promises to keep digital assets secure and safe. The Ellipal wallet is the latest entrant in this field and aims to stand out from the crowd by providing a completely isolated solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes more important. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets from rival companies like TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR on a compromised computer that is infected with viruses Your private keys will remain secure and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any network or computer, meaning it has no wireless or wired connections. Instead, it transmits QR codes using a camera on the rear end. This makes it a highly secure option as it eliminates the possibility of a hacker gaining gain access to private information through the network. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it’s not battle-tested yet. This is something prospective buyers need to be aware of when buying this Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR as well as Ledger) were in business for longer and have proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited number of coins which include 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 may be a concern for some buyers. However, the company is currently working on adding more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the hardware wallet market and promises to be 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s new and the product has not been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price of $149 is on par with the other options. Although the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is well worth the price is up to the person who buys it. It’s a safe option with an innovative design, but it’s not as convenient for use like other hardware wallets. Additionally, it’s an all-new product on the market.