The cryptocurrency market has seen a rise in the number and variety of hardware wallets available on the market, each promising that your digital assets will be safe and safe. The Ellipal wallet is a brand new player in this field It is aiming to differentiate itself from the rest by providing an unrivalled solution. In this post, we’ll look at a closer review of the Ellipal wallet and the business behind it and the features that it has to offer to help you decide whether it’s worth the money.
The hardware wallet can be described as a device that keeps the private key of your financial assets off-line to prevent hackers from stealing them remotely. The Ellipal wallet claims to be 100% secure because it is completely unconnected to any computer or network. This means that it is not wired or wireless connection and instead communicates via QR codes via an image camera at the rear of the wallet. The Ellipal wallet is priced at $149. It is relatively new on the market, which implies it isn’t 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 and its online reviews state the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are also designed in a way that no attacker from outside is able to see your private key. For instance, even if it is possible to connect your TREZOR on a compromised system that has been infected with viruses your private keys are still safe and secured.
Ellipal’s source code is partially accessible, and is similar to Ledger and Ledger, they have a Github repository that showcases their Cross-chain wallet framework aswell the JS-Lib that allows any app developer to work with them. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) have a considerable amount of their code on public repositories. This makes it easy to observe the security measures they have implemented.
The Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that its competitors support, TREZOR and Ledger.
The price of $149 to purchase Ellipal wallet is a bargain. Ellipal wallet is comparable with other wallets, however it’s important to remember that it’s a 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 proven track history of security, the Ellipal wallet isn’t the best value for your budget.
In the end it is clear that the Ellipal wallet has been a brand new player on the hardware wallet market, promising that it is 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s new, and the product isn’t battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal product is worthy of the price is up to the individual.