The cryptocurrency market has seen an significant increase in the amount of wallets that are hardware in recent years, each promises that digital assets will be safe and secure. Its Ellipal wallet is a brand new competitor in the field, and hopes to differentiate from the crowd by providing a completely isolated solution. As the use of cryptocurrency is becoming more widespread, the need for secure storage of digital assets is becoming increasingly important. The Ellipal wallet can be described as a device that stores the private key to digital assets indefinitely and prevents hackers from taking them remotely.
Ellipal the company that developed the hardware wallet, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The company’s website as well as online reviews claim they are 100% secure, but it’s important to remember that hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised system that has been infected with viruses your private keys remain secure and safe.
Its Ellipal wallet is unique in its design. It is completely disconnected from any network or computer, meaning it has no wired or wireless connectivity. Instead, it communicates through QR codes via cameras on its rear of the. This makes it an extremely safe option since it blocks the possibility of hackers gaining gain access to private information through a network connection. However, it’s important to remember that this means the Ellipal wallet isn’t as user-friendly like other wallets on hardware, which can be connected to a computer for simple transactions.
The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it has not been battle-tested yet. This is something prospective buyers need to take into consideration when purchasing the Ellipal wallet. As a comparison, both the top hardware wallet manufacturers today (TREZOR and Ledger) were in business for a longer time and have a established track records of security.
In terms of coin support In terms of support for coins, the Ellipal wallet is currently able to support the following coins: a few, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger, which might be a worry for some users. 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 has been a fresh player on the hardware wallet market that claims to be 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new, and the product hasn’t been battle-tested as of yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with other wallets. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is well worth the price is up to the individual. It’s a very secure option that has a modern design however, it’s not as easy in use as the other hardware wallets. Additionally, it’s a relatively new product that’s available.