The cryptocurrency market has seen an significant increase in the amount of hardware wallets available in recent years, all promises to keep digital assets safe and secure. Its Ellipal wallet is a new entry into the market and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to secure security for digital asset storage becomes increasingly important. Ellipal wallet Ellipal wallet is a tool which keeps the private keys to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state they are completely secure, but it’s important to keep in mind that hardware wallets of rival companies 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 the TREZOR is connected TREZOR on a compromised device that is infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is unique in its design. It is completely isolated from any network or computer that is, it doesn’t have wired or wireless connectivity. Instead, it communicates through QR codes through an image camera at the back of the. This makes it a highly secure option as it eliminates the possibility of hackers getting access to the private key via a network connection. However, it’s worth noting that this means the Ellipal wallet is not as user-friendly as other wallets that are hardware-based, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, meaning that it’s not combat-tested to date. This is something that potential buyers must take into consideration when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were around for longer and have established track records of security.
Regarding support for coins In terms of support for coins, 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 and ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some users. However, the company is working to provide more support for coins in the future.
In the end, the Ellipal wallet is a new player in the market of hardware wallets and promises that it is 100% safe due to its total inaccessibility to any computer or network. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is in line with other wallets. Although the idea of a totally exclusive hardware wallet is appealing however, you should consider the history and security features of other hardware wallets before making a decision. The final decision about whether the Ellipal device is well worth the price is entirely up to the user. It’s a safe option with a unique design however, it’s not as user-friendly in use as the other wallets. Additionally, it’s a relatively new product that’s available.