The cryptocurrency market has seen an significant increase in the number of hardware wallets available in recent years. Each claims to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from the crowd by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage is becoming increasingly important. The Ellipal wallet can be described as a gadget which keeps the private keys to digital assets off-line to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young company on the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim they are 100% secure, however, it’s important to remember that hardware wallets from rival businesses like TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses your private keys remain protected and safe.
The Ellipal wallet is unique in its design, it is completely disconnected from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes via an image camera at the rear of the. This makes it an extremely secure option as it eliminates the possibility of a hacker having gain access to private information by a network connection. However, it’s important to remember that this also means that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is fairly brand new in the marketplace, meaning that it isn’t battle-tested yet. This is something prospective buyers should be aware of when buying the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) were in business for longer and have proven track record of security.
In terms of support for coin In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few, including 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 users. The company is working to provide support for more coins in the near future.
In the end it is clear that it is clear that the Ellipal wallet is a fresh player in the market for hardware wallets that claims to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with the other options. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a choice. In the end, the decision on whether the Ellipal device is well worth the price is up to the person who buys it. It’s a very secure option that has a modern design but it’s not as convenient to use as other wallets. Additionally, it’s a relatively new product on the market.