The cryptocurrency world has witnessed a rise in the number of physical wallets that are available all promising to keep your digital assets safe and secure. The Ellipal wallet is a new competitor in this space and aims to stand out from the crowd by providing an unrivalled solution. In this post, we’ll look at a close look at the Ellipal wallet as well as the business behind it, and the features it offers to help you determine whether it’s worth the money.
Hardware wallets are gadget that keeps the private key to your digital assets offline and prevents hackers from taking the funds remotely. The Ellipal wallet promises to be 100% secure as it is completely isolated from any network or computer. This means that it is not wired or wireless connectivity and instead, it communicates with QR codes via a camera on the rear of the wallet. The Ellipal wallet costs $149 and is relatively new on the market, which implies that it has not been tested in battle yet.
Ellipal, the company behind the wallet’s hardware component is a relatively new company on 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 they are 100% secure, however, it’s important to keep in mind that hardware wallets of rival companies like TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system that is infected with viruses Your private keys remain safe and secured.
Ellipal’s source code is partially open, and similar to Ledger, they have a Github repository that showcases their Cross-chain wallet framework aswell as their JS-Lib for developers to develop apps with their framework. As a contrast, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) have a significant quantity of their software on public repositories. This makes it easy to see how they implement security measures.
The Ellipal wallet is currently compatible with a limited number of coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger.
The $149 price tag for this Ellipal wallet is comparable with its competitors, but it is important to note that it is a relatively new product that hasn’t been battle-tested yet. When compared to the TREZOR and Ledger wallets, which are on the market for longer and have a long-standing track history of security, the Ellipal wallet may not be the best value for your budget.
In conclusion it is clear that the Ellipal wallet has been a brand new player on the hardware wallet market, promising that it is 100% secure due to its complete isolation from any computer or network. Its creators are relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is on par with other wallets. While the idea of a fully isolated hardware wallet is intriguing however, you should consider the history and security features of other hardware wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal device is worthwhile for the price is entirely up to the user.