The cryptocurrency market has witnessed a significant increase in the number of hardware wallets available on the market in recent years. Each promising that digital assets will be safe and secure. Its Ellipal wallet is a brand new entry into the market and is aiming to differentiate itself from its competitors by offering a completely isolated solution. As the use of cryptocurrency becomes more mainstream it is becoming more important to secure storage of digital assets is becoming increasingly essential. It is the Ellipal digital wallet tool which keeps the private keys to digital assets indefinitely to prevent hackers from taking their assets remotely.
Ellipal the company that developed the hardware wallet is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The company’s website as well as online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival firms like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if it is possible to connect your TREZOR to a compromised computer that has been infected with viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is unique in its design. It is completely unconnected to any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes through an image camera at the rear of the. This makes it a highly safe option since it blocks the possibility of a hacker having an access point to your private keys via an internet connection. However, it’s important to remember that this also means that the Ellipal wallet isn’t so user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively recent to market meaning that it has not been combat-tested to date. This is something prospective buyers should be aware of when buying this Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) have been around for longer and have established track records of security.
In terms of coin support in terms of coin support, the Ellipal wallet supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which might be a worry for some customers. But, the company is working to add support for more coins in the future.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new competitor in the hardware wallet market, promising to be 100% secure because of its complete inaccessibility to any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with the other options. While the idea of a completely isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets before making a choice. In the end, the decision on whether or not the Ellipal product is worthwhile for the cost is entirely up to the user. It’s a safe option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s an extremely new product on the market.