The cryptocurrency market has witnessed an significant increase in the amount of hardware wallets in recent years. Each promises that digital assets will be secure and safe. Ellipal is one of them. Ellipal wallet is a brand new entrant in this field and aims to stand out from its rivals by providing an entirely separate solution. As the use of cryptocurrency grows more commonplace, the need for secure storage of digital assets becomes increasingly crucial. The Ellipal digital wallet gadget that stores the private key to digital assets offline to prevent hackers from taking them from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews state the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can see your private keys. For instance, even if the TREZOR is connected TREZOR on a compromised computer that is infected with viruses, your private keys remain secure and safe.
Its Ellipal wallet is distinctive in its design, it is completely isolated from any computer or network that is, it doesn’t have wireless or wired connectivity. Instead, it communicates via QR codes via cameras on its back of the. This makes it a highly secure choice as it removes the possibility of a hacker having an access point to your private keys by an internet connection. It’s important to note that this means the Ellipal wallet isn’t so user-friendly as other wallets that are hardware-based that connect to a computer to facilitate transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it isn’t combat-tested to date. This is something potential buyers must be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) have been on the market for longer and have a established track records of security.
In terms of support for coin in terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. But, the company is working to provide more support for coins in the near future.
In the end, the Ellipal wallet is a new competitor in the market for hardware wallets and promises that it is 100% secure because of its complete inaccessibility to any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with the other options. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets prior to making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s an extremely secure choice with a unique design but it’s not as convenient in use as the other wallets, and it’s an extremely new product that’s available.