The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware on the market in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is the latest entry into the market and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency grows more commonplace, the need for safe security for digital asset storage is becoming increasingly crucial. Ellipal wallet Ellipal wallet can be described as a device that keeps the private key to digital assets indefinitely, preventing hackers from stealing them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young player in the market. It raised $55K through an Indiegogo campaign to fund its development. The company’s website as well as reviews online claim they are completely secure, however, it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For instance, even if it is possible to connect your TREZOR to a compromised device which is infected by viruses, your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely isolated from any computer or network, meaning it has no wireless or wired connections. Instead, it transmits QR codes via a camera on the rear end. This makes it a very secure choice as it removes the possibility of a hacker gaining an access point to your private keys through a network connection. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use like other wallets on hardware, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it has not been tested in battle yet. This is something that potential buyers must be aware of when purchasing Ellipal. Ellipal wallet. As a comparison, both the top hardware wallet makers today (TREZOR and Ledger) are on the market for longer and have established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some users. But, the company is working to provide the support of more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the hardware wallet market, promising to be 100% secure because of its complete 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 a limited number of coins and the price at $149 is comparable with the other options. Although the idea of a completely separated hardware wallet sounds appealing however, you should consider the history and security measures of other hardware wallets prior to making a decision. The final decision about whether the Ellipal device is well worth the price is up to the individual. It’s an extremely secure choice that has a modern design however, it’s not as easy for use like other hardware wallets, and it’s an extremely new product available on the market.