The cryptocurrency market has seen a significant increase in the number of hardware wallets available in recent years, each promises that digital assets will be secure and safe. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering an entirely separate solution. As the use of cryptocurrency becomes more mainstream and more commonplace, the need for safe the storage and protection of assets becomes increasingly important. The Ellipal digital wallet gadget which keeps the private keys to digital assets indefinitely, preventing hackers from stealing the keys remotely.
Ellipal, the company behind the wallet’s hardware component 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 as well as reviews online claim they are 100% secure, but it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are made in a way that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses, your private keys will remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes using an image camera at the rear of the. This makes it an extremely secure choice as it removes the possibility of a hacker gaining an access point to your private keys through an internet connection. However, it’s important to remember that this means the Ellipal wallet isn’t as convenient to use as other hardware wallets that connect to a computer to facilitate transactions.
The Ellipal wallet costs $149 and is fairly brand new in the marketplace, which means that it has not been combat-tested to date. This is something prospective buyers should be aware of when buying Ellipal. Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have been on the market for a longer time and have a proven track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. It is lower than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. The company is working to add support for more coins in the future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh player on the hardware wallet market and promises to be 100% safe due to its total separation from any network or computer. The company behind it is new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports the use of a small number of coins and its price at $149 is comparable with its competitors. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is well worth the cost is up to the individual. It’s a very secure option that has a modern design however, it’s not as user-friendly to use as other wallets. Additionally, it’s an all-new product on the market.