The world of cryptocurrency has witnessed a significant increase in the amount of hardware wallets in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to secure the storage and protection of assets is becoming increasingly essential. Ellipal wallet Ellipal wallet is a device that stores the private key to digital assets offline to prevent hackers from taking the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to fund its development. The company’s website and reviews online claim they are completely secure, however, it’s important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private keys. For example, even if the TREZOR is connected TREZOR on a compromised device 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 unconnected to any network or computer which means it does not have wireless or wired connectivity. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a highly secure choice as it removes the possibility of a hacker having gain access to private information by the network. It’s important to note that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market meaning that it’s not battle-tested yet. This is something potential buyers should be aware of when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around 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, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. The company is working to add support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the hardware wallet market and promises that it is 100% secure because of its complete isolation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is in line with other wallets. Although the concept of a totally isolated hardware wallet is intriguing, it’s important to consider the security and track record features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the user. It’s a safe option that has a modern design but it’s not as convenient for use like other wallets. It’s also an extremely new product that’s available.