The cryptocurrency market has seen a significant increase in the amount of wallets that are hardware in recent years, all promising that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a new entrant in this field and hopes to differentiate from the crowd by providing a completely isolated solution. As cryptocurrency usage is becoming more widespread, the need for secure security for digital asset storage is becoming increasingly essential. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and online reviews state they are completely safe, however it is important to remember that hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. In the event that, for instance, it is possible to connect your TREZOR with a compromised system that is infected with viruses Your private keys will remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear of the. This makes it a very secure option as it eliminates the possibility of hackers getting access to the private key by a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it’s not combat-tested to date. This is something that potential buyers should keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were around for a longer time and have a established track records of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, the company is currently working on adding the support of more coins in the near future.
In the end, the Ellipal device is an brand new competitor in the market of hardware wallets and promises that it is 100% secure because of its complete separation from any network or computer. The company behind it is relatively new and the product hasn’t been tested in battle yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets before making a choice. The final decision about whether or not 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 however, it’s not as easy for use like other wallets. It’s also a relatively new product on the market.