The cryptocurrency market has seen an significant increase in the number of hardware wallets on the market in recent years, each promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is the latest entry into the market and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage grows more commonplace it is becoming more important to secure storage of digital assets becomes increasingly important. Ellipal wallet Ellipal digital wallet tool that keeps the private key to digital assets off-line, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website as well as online reviews state they are completely secure, however, it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. In the event that, for instance, you connect your TREZOR on a compromised computer which is infected by viruses your private keys will remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes via a camera on the back of the. This makes it a very secure choice as it removes the possibility of a hacker having gain access to private information through a network connection. It’s important to note that this could mean that the Ellipal wallet is not so user-friendly as other wallets that are hardware-based, which can be connected to a computer to facilitate transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which implies that it has not been tested in battle yet. This is something that potential buyers need to take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) are on the market for a longer time and have a established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports a limited 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 buyers. However, the company is working to provide the support of more coins in the near future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal device is an new player in the market for hardware wallets, promising to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with the other options. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is well worth the cost is up to the person who buys it. It’s an extremely secure choice with an innovative design, however, it’s not as user-friendly in use as the other hardware wallets. It’s also a relatively new product that’s available.