The cryptocurrency market has seen a rise in the number of physical wallets available on the market, each promising that your digital assets will be safe and secure. It is the Ellipal wallet is a brand new player in this field and will stand out from the crowd by providing an unrivalled solution. In this article, we’ll take a closer look at the Ellipal wallet as well as the business behind it, and the features that it has to offer to help you determine if it’s worth the investment.
A hardware wallet is a device which keeps the private keys of your financial assets offline, preventing hackers from stealing them remotely. The Ellipal wallet claims to be 100% secure since it is completely isolated from any network or computer. It has no wired or wireless connection and instead communicates through QR codes via an image camera at the rear end. The Ellipal wallet costs $149 and is fairly 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 young player in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The website of the company as well as reviews online claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival businesses 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 it is possible to connect your TREZOR to a compromised system which is infected by viruses Your private keys remain safe and secure.
Ellipal’s source code remains partially available, and, similar to Ledger and Ledger, they have an Github repository available that shows their Cross-chain wallet platform as well in their JS-Lib, which is available to any App developer to work with their framework. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) are both able to have significant amount of their code in public repositories, which makes it easy to observe how they implement security measures.
The Ellipal wallet supports only a few coins which include 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 of $149 of Ellipal wallet is a bargain. Ellipal wallet is comparable with its competitors, but it’s important to keep in mind that it is a relatively new product that hasn’t been tested for battle. In comparison to TREZOR or 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 money.
In the end In conclusion, the Ellipal device is an new competitor in the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any computer or network. Ellipal is a company that’s new, and the product isn’t battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the cost is up to the individual.