The cryptocurrency market has seen a rise in the number of hardware wallets available on the market all promising that your digital assets will be safe and secure. It is the Ellipal wallet is a new player in this field, and it will stand out from the crowd by providing an entirely separate solution. In this article, we’ll take you on a more in-depth look at the Ellipal wallet and its company that makes it, and the features it offers to help you decide whether it’s worth investing in.
A hardware wallet is a device that stores the private key for your personal digital accounts indefinitely, preventing hackers from stealing your data remotely. The Ellipal wallet promises to be 100% secure as it is completely unconnected to any computer or network. It does not have wireless or wired connectivity, but instead, it communicates with QR codes through an image camera at the rear end. The Ellipal wallet is priced at $149. It is relatively new on the market, which means it isn’t test-driven yet.
Ellipal The company behind the wallet’s hardware component, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if it is possible to connect your TREZOR on a compromised computer which is infected by viruses Your private keys will remain safe and secure.
Ellipal’s source code is only partially open, and similar to Ledger, they have the Github repository which demonstrates their Cross-chain wallet framework as well the JS-Lib that allows any app developer to work with their framework. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) possess a significant amount of their code stored on public repositories, making it simple to understand how they go about implementing security measures.
The Ellipal wallet is currently compatible with a limited number of coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger.
The $149 price tag for the Ellipal wallet is in line with other wallets, however it is important to note that it is a relatively new product that hasn’t been tested for battle. When compared to the TREZOR and Ledger wallets that have been on the market longer and have an established track record of security The Ellipal wallet isn’t the most value-for-money cash.
In conclusion, it is clear that the Ellipal wallet is a fresh player in the market for hardware wallets that claims to be 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s new, and the product isn’t test-driven yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with its competitors. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is worthwhile for the cost is entirely up to the person who purchases it.