The cryptocurrency market has seen an increase in the number and variety of hardware wallets on the market, each promising that your digital assets will be safe and secure. It is the Ellipal wallet is the newest player in this field and will stand out from the crowd by providing an entirely separate solution. In this article, we’ll take you on a close review of the Ellipal wallet, its company that makes it and its features to help you decide whether it’s worth investing in.
Hardware wallets are gadget which keeps the private keys to your digital assets off-line and prevents hackers from taking the funds remotely. The Ellipal wallet promises to be 100% secure since it is completely unconnected to any computer or network. It has no wired or wireless connectivity and instead, it communicates with QR codes through a camera on the back of the device. The Ellipal wallet is priced at $149. It is relatively new to the market, which implies that it has not been test-driven yet.
Ellipal, the company that developed the hardware wallet is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The website of the company as well as online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets from rival companies such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. In the event that, for instance, the TREZOR is connected TREZOR with a compromised computer that is infected with viruses, your private keys remain safe and secure.
Ellipal’s source code remains partially accessible, and is similar to Ledger, they have a Github repository available that shows their Cross-chain wallet framework as well in their JS-Lib, which is available to any app developer to work with them. For comparison, both major hardware wallet manufacturers today (TREZOR as well as Ledger) are both able to have large amount of their code on public repositories. This makes it easy to see the security measures they have implemented.
The Ellipal wallet supports only a few coins which include Bitcoin, Ethereum, Litecoin, and 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 on par with the other wallets on the market, but it’s important to keep in mind that it’s a new product that has not been tested for battle. If you compare it to TREZOR and Ledger wallets that are available longer and have a long-standing track record of security The Ellipal wallet may not be the best value for your money.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh competitor in the market for hardware wallets, promising that it is 100% safe due to its total separation from any computer or network. Its creators are relatively new, and it hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag at $149 is comparable with its competitors. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the history and security measures of other hardware wallets before making a decision. The final decision on whether the Ellipal wallet is worth the cost is entirely up to the person who purchases it.