The cryptocurrency market has seen a rise in the number and variety of hardware wallets on the market that promise that your digital assets will be safe and secure. The Ellipal wallet is a brand new player in this field It will stand out from its competitors by offering a completely isolated solution. In this post, we’ll look at a more in-depth look at the Ellipal wallet as well as the company behind it and the features it offers to help you determine if it’s worth the investment.
A hardware wallet is a device that stores the private key for your personal digital accounts off-line and prevents hackers from taking them remotely. The Ellipal wallet claims to be 100% secure since it is completely isolated from any computer or network. It has no wired or wireless connectivity and instead communicates through QR codes through an image camera at the back of the device. The Ellipal wallet costs $149 and is relatively new to the market, which implies it isn’t tested in battle yet.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The website of the company as well as reviews online claim that their hardware wallet is 100% safe, however it is important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see 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 are still safe and secure.
Ellipal’s source code is partially open, and as with Ledger, they have the Github repository that showcases their Cross-chain wallet framework as well the JS-Lib that allows any App developer to work with their framework. For comparison, both major hardware wallet manufacturers currently (TREZOR as well as Ledger) are both able to have considerable quantity of their software on public repositories, making it easy to observe the security measures they have implemented.
The Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is lower than the number of coins that its competitors support, TREZOR and Ledger.
The price of $149 for this Ellipal wallet is comparable with other wallets, however it is important to note that it is a relatively new product and has not been tested for battle. When compared to the TREZOR or Ledger wallets, which are available longer and have a proven track history of security The Ellipal wallet isn’t the best value for budget.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a fresh player on the hardware wallet market and promises that it is 100% safe due to its total isolation from any network or computer. Its creators are relatively new, and the product isn’t tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with its competitors. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is worthwhile for the price is entirely up to the person who purchases it.