The world of cryptocurrency has witnessed a significant increase in the number of wallets that are hardware on the market in recent years. Each claims that digital assets will be safe and secure. The Ellipal wallet is a brand new competitor in the field, and aims to stand out from its competitors by offering an entirely separate solution. As cryptocurrency usage becomes more mainstream and more commonplace, the need for safe storage of digital assets becomes increasingly crucial. It is the Ellipal wallet is a gadget that stores the private key to digital assets indefinitely to prevent hackers from taking the keys from a remote location.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund research and development for their products. The company’s website as well as reviews online claim that their hardware wallet is completely secure, however, it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to view your private key. For example, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses, your private keys remain secure and safe.
The 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 transmits QR codes through cameras on its rear end. This makes it an extremely safe option since it blocks the possibility of a hacker having access to the private key through a network connection. However, it’s important to remember that this could mean that the Ellipal wallet isn’t so user-friendly like other wallets on hardware that connect to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not tested in battle yet. This is something potential buyers need to keep in mind when considering buying Ellipal. Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for a longer time and have a proven track record of security.
In terms of coin support in terms of coin support, the Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the number of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. The company is currently working on adding more support for coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a new player in the market for hardware wallets and promises to be completely secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with its competitors. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the security and track record features of other hardware wallets prior to making a choice. The final decision about whether or not the Ellipal device is well worth the cost is up to the individual. It’s a safe option with a unique design but it’s not as convenient for use like other hardware wallets, and it’s an extremely new product that’s available.