The cryptocurrency market has witnessed a significant increase in the amount of hardware wallets in recent years, each claims that digital assets will be safe and secure. Its Ellipal wallet is the latest competitor in the field, and hopes to differentiate from its rivals by providing an entirely separate solution. As cryptocurrency usage grows more commonplace, the need for safe security for digital asset storage is becoming increasingly important. It is the Ellipal digital wallet gadget that keeps the private key to digital assets offline, preventing hackers from stealing their assets remotely.
Ellipal the company that developed the wallet’s hardware component is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The company’s website as well as reviews online claim that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of rival companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR with a compromised device that has been infected with viruses, your private keys are still secure and safe.
Ellipal is a unique wallet. Ellipal wallet is distinctive in its design, it is completely unconnected to any network or computer that is, it doesn’t have wireless or wired connectivity. Instead, it transmits QR codes using a camera on the back of the. This makes it a highly secure option as it eliminates the possibility of a hacker having access to the private key by an internet connection. However, it’s important to remember that this also means that the Ellipal wallet is not as user-friendly as other hardware wallets, which can be connected to a computer for simple transactions.
The Ellipal wallet retails for $149. It is relatively recent to market which implies that it has not been battle-tested yet. This is something prospective buyers need to keep in mind when considering purchasing the Ellipal wallet. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are around for a longer time and have a proven track record of security.
In terms of coin support, Ellipal wallet supports a limited number of coins. Ellipal wallet supports the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. It is lower than the amount of coins supported by its competitors, TREZOR and Ledger, which could be a problem for some buyers. However, the company is working to add support for more coins in the future.
In the end, Ellipal wallet is a good choice. Ellipal wallet has been a brand new player on the market of hardware wallets that claims to be 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s new and the product hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag of $149 is on par with other wallets. Although the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the track record and security features of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthwhile for the cost is up to the individual. It’s a safe option with an innovative design, however, it’s not as easy in use as the other hardware wallets, and it’s a relatively new product on the market.