The cryptocurrency market has seen a rise in the number of physical wallets that are available all promising that your digital assets will be safe and safe. Ellipal is one of them. Ellipal wallet is a brand new player in this field It is aiming to differentiate itself from the crowd by providing a completely isolated solution. In this article, we’ll take a closer look at the Ellipal wallet, its company that makes it and the features it offers to help you decide whether it’s worth investing in.
The hardware wallet can be described as a gadget which keeps the private keys of your financial assets off-line to prevent hackers from stealing your data remotely. The Ellipal wallet is 100% secure since it is completely isolated from any computer or network. It has no wireless or wired connectivity, but instead communicates via QR codes through an image camera at the rear of the wallet. The Ellipal wallet costs $149 and is relatively new to the market, meaning that it hasn’t been test-driven yet.
Ellipal, the company behind the wallet’s hardware 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 website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. In the event that, for instance, you connect your TREZOR to a compromised system which is infected by viruses your private keys will remain safe and secured.
Ellipal’s source code remains partially accessible, and is like Ledger, they have the Github repository which demonstrates their Cross-chain wallet framework as well as their JS-Lib for any App developer to work with them. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) have a significant quantity of their software on public repositories, making it simple to understand the security measures they have implemented.
The Ellipal wallet currently supports only a few coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is lower than the coins that its competitors support, TREZOR and Ledger.
The price tag of $149 of this Ellipal wallet is comparable with other wallets, however it’s important to keep in mind that it is a relatively new product and has not been tested in battle yet. In comparison to TREZOR as well as Ledger wallets, which are on the market for longer and have a long-standing track performance in security and reliability, the Ellipal wallet may not be the most value-for-money budget.
In the end it is clear that it is clear that the Ellipal wallet is a brand new player on the hardware wallet market, promising to be 100% secure because of its complete isolation from any computer or network. The company behind it is relatively new and the product isn’t tested in battle yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with its competitors. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal product is worthy of the cost is up to the individual.