The world of cryptocurrency has witnessed an significant rise in the number of wallets that are hardware on the market in recent years. Each promising that digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new competitor in the field, and is aiming to differentiate itself from the crowd by providing an unrivalled solution. As cryptocurrency usage grows more commonplace it is becoming more important to safe storage of digital assets becomes more crucial. The Ellipal wallet is a gadget that stores the private key to digital assets offline to prevent hackers from taking their assets from a remote location.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website as well as online reviews state the hardware wallet as completely secure, but it’s important to remember that hardware wallets from rival businesses like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses Your private keys will remain safe and secure.
Its Ellipal wallet is unique in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates through QR codes using a camera on the rear end. This makes it a very secure choice as it removes the possibility of hackers getting an access point to your private keys via the network. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that can be linked to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly new to the market, which means that it has not been tested in battle yet. This is something that potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were on the market for longer and have an established track record of security.
In terms of support for coin in terms of coin support, the Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which could be a problem for some buyers. The company is working to add more support for coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the market of hardware wallets that claims to be 100% secure due to its complete separation from any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with its competitors. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets prior to making a choice. The final decision about whether the Ellipal wallet is worth the price is up to the person who buys it. It’s a safe option that has a modern design but it’s not as convenient in use as the other wallets. It’s also an extremely new product available on the market.