The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets in recent years, all promising that digital assets will be secure and safe. Its Ellipal wallet is a brand new entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency grows more commonplace it is becoming more important to safe security for digital asset storage is becoming increasingly crucial. The Ellipal wallet is a gadget that keeps the private key to digital assets off-line and prevents hackers from taking the keys remotely.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website and reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets from rival companies like TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer that has been infected with viruses, your private keys remain safe and secure.
Its Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wireless or wired connections. Instead, it communicates via QR codes through cameras on its back of the. This makes it a highly secure choice as it removes the possibility of a hacker gaining access to the private key by the network. However, it’s worth noting that this also means that the Ellipal wallet is not so user-friendly like other wallets on hardware, which can be connected to a computer for easy transactions.
The Ellipal wallet retails for $149. It is relatively new to the market, which means that it isn’t battle-tested yet. This is something that potential buyers should take into consideration when purchasing this Ellipal wallet. In comparison, both leading hardware wallet manufacturers of today (TREZOR and Ledger) are in business for a longer time and have a an established track record of security.
Regarding support for coins In terms of support for coins, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports the following coins: a few that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. It is lower than the coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. But, the company is working to provide support for more coins in the near future.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a new player on the hardware wallet market, promising to be 100% secure due to its complete isolation from any network or computer. Its creators are relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with other wallets. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal device is well worth the price is entirely up to the user. It’s an extremely secure choice with a unique design however, it’s not as easy for use like other hardware wallets. It’s also a relatively new product that’s available.