The cryptocurrency world has witnessed a rise in the number of hardware wallets available on the market that promise that your digital assets will be safe and secure. It is the Ellipal wallet is the newest competitor in this space, and it will stand out from its competitors by offering an unrivalled solution. In this post, we’ll look at a closer look at the Ellipal wallet and the business behind it, and the features it offers to help you decide whether it’s worth the money.
The hardware wallet can be described as a device that keeps the private key to your digital assets indefinitely and prevents hackers from taking the funds remotely. The Ellipal wallet claims to be 100% secure as it is completely isolated from any network or computer. This means that it does not have wired or wireless connectivity and instead, it communicates with QR codes using a camera on the rear end. The Ellipal wallet retails for $149 and is relatively new on the market, meaning that it has not been test-driven yet.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company as well as online reviews claim the hardware wallet as completely safe, however it is important to remember that hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no outside attacker can see your private key. For instance, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses Your private keys remain safe and secured.
Ellipal’s source code is partially accessible, and is similar to Ledger the company has the Github repository available that shows 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 companies currently (TREZOR as well as Ledger) are both able to have large amount of their code stored in public repositories, which makes it easy to see how they go about implementing security measures.
The Ellipal wallet supports only a few coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 for Ellipal wallet is a bargain. Ellipal wallet is comparable with its competitors, but it is important to note that it’s a new product that hasn’t been battle-tested yet. In comparison to TREZOR as well as Ledger wallets, which are available for longer and have an established track history of security The Ellipal wallet might not be the best value for cash.
In the end it is clear that it is clear that the Ellipal wallet is a new competitor in the hardware wallet market and promises to be completely secure because of its complete inaccessibility to any computer or network. Its creators are new, and it hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with only a few coins, and its price tag at $149 is comparable with the other options. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal wallet is worth the price is entirely up to the user.