The world of cryptocurrency has seen a significant rise in the number of wallets that are hardware on the market in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its competitors by offering an unrivalled solution. As the use of cryptocurrency is becoming more widespread it is becoming more important to safe storage of digital assets becomes increasingly essential. It is the Ellipal wallet can be described as a gadget which keeps the private keys to digital assets indefinitely and prevents hackers from taking the keys from a remote location.
Ellipal, the company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are made in a way that no outside attacker can see your private keys. In the event that, for instance, the TREZOR is connected TREZOR with a compromised device that has been infected with viruses your private keys will remain safe and secure.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network which means it does not have wired or wireless connectivity. Instead, it communicates through QR codes through a camera on the rear end. This makes it a highly safe option since it blocks the possibility of hackers getting an access point to your private keys via the network. However, it’s worth noting that this means the Ellipal wallet is not as convenient to use as other wallets that are hardware-based, which can be connected to a computer for simple transactions.
The Ellipal wallet costs $149 and is relatively brand new in the marketplace, which implies that it’s not battle-tested yet. This is something prospective buyers must keep in mind when considering purchasing this Ellipal wallet. As a comparison, both the top hardware wallet manufacturers of today (TREZOR as well as Ledger) were in business for longer and have established track records of security.
In terms of coin support 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 which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger, which may be a concern for some buyers. But, the company is working to provide more support for coins in the near future.
In the end, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the hardware wallet market, promising to be 100% secure because of its complete inaccessibility to any computer or network. Its creators are new and the product has not been battle-tested as of yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with the other options. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthwhile for the price is up to the person who buys it. It’s a very secure option that has a modern design however, it’s not as user-friendly in use as the other wallets. It’s also a relatively new product that’s available.