The world of cryptocurrency has seen a significant increase in the amount of hardware wallets on the market in recent years, all promises to keep digital assets secure and safe. The Ellipal wallet is a brand new entry into the market and hopes to differentiate from its rivals by providing an unrivalled solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure storage of digital assets becomes increasingly important. Ellipal wallet Ellipal wallet can be described as a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through an Indiegogo campaign to finance its development. The company’s website and online reviews state that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses your private keys remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely disconnected from any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes via an image camera at the back of the. This makes it a very secure option as it eliminates the possibility of hackers gaining an access point to your private keys through the network. However, it’s worth noting that this also means that the Ellipal wallet isn’t as convenient to use as other hardware wallets, which can be connected to a computer for easy transactions.
The Ellipal wallet costs $149 and is fairly recent to market which means that it has not been battle-tested yet. This is something that potential buyers need to take into consideration when buying this Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) are around for longer and have a an established track record of security.
In terms of support for coin, the Ellipal wallet supports only a small number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some customers. But, 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 new competitor in the hardware wallet market that claims to be completely safe due to its total separation from any network or computer. Its creators are new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and its price at $149 is comparable with its competitors. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallets before making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with an innovative design, but it’s not as convenient for use like other hardware wallets, and it’s an all-new product on the market.