The cryptocurrency market has seen an significant rise in the number of wallets that are hardware on the market in recent years, each claims that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. As cryptocurrency usage becomes more mainstream it is becoming more important to safe the storage and protection of assets is becoming increasingly crucial. The Ellipal digital wallet gadget that stores the private key to digital assets indefinitely, preventing hackers from stealing the keys from a remote location.
Ellipal the company that developed the wallet’s hardware is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund its development. The website of the company and its online reviews state they are completely safe, however it is important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private keys. In the event that, for instance, you connect your TREZOR to a compromised system which is infected by viruses Your private keys remain secure and safe.
The Ellipal wallet is distinctive in its design. It is completely disconnected from any network or computer which means it does not have wireless or wired connections. Instead, it transmits QR codes through a camera on the 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 through the network. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly as other hardware wallets that can be linked to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it’s not combat-tested to date. This is something potential buyers should be aware of when purchasing the Ellipal wallet. Comparatively, both of the leading hardware wallet manufacturers of today (TREZOR as well as Ledger) were on the market for longer and have a an established track record of security.
In terms of coin support In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet is currently able to support only a small number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger, which may be a concern for some customers. However, the company is currently working on adding more support for coins in the near future.
In the end it is clear that the Ellipal wallet is a fresh competitor in the market for hardware wallets, promising to be 100% secure due to its complete isolation from any computer or network. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and the price of $149 is on par with the other options. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a decision. The final decision about whether or not the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option that has a modern design however, it’s not as user-friendly for use like other wallets, and it’s an all-new product available on the market.