The cryptocurrency market has seen a rise 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 competitor in this space and is aiming to differentiate itself from the crowd by providing an unrivalled solution. In this article, we’ll take you on a closer look at the Ellipal wallet and its company that makes it and the features that it has to offer to help you decide 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 promises to be 100% secure because it is completely isolated from any network or computer. This means it is not wired or wireless connectivity and instead communicates via QR codes using an image camera at the back of the device. The Ellipal wallet retails for $149 and is relatively new to the market, which means that it has not been test-driven yet.
Ellipal The company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund research and development for their products. The website of the company as well as reviews online claim they are completely secure, however, it’s important to note that the hardware wallets from rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised system which is infected by viruses, your private keys are still safe and safe.
Ellipal’s source code is partially accessible, and is like Ledger the company has the 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 their framework. In comparison, both leading hardware wallet companies currently (TREZOR as well as Ledger) have a significant quantity of their software on public repositories, making it simple to understand how they implement security measures.
The Ellipal wallet is currently compatible with a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger.
The price tag of $149 of this Ellipal wallet is in line with its competitors, but it’s important to remember that it’s a new product that has not been tested in battle yet. If you compare it to TREZOR and Ledger wallets that are on the market longer and have an established track record of security, the Ellipal wallet may not be the best value for cash.
In conclusion, the Ellipal wallet has been a brand new player on the hardware wallet market that claims that it is 100% secure because of its complete inaccessibility to any network or computer. Its creators are new, and the product isn’t battle-tested yet. The Ellipal wallet is currently compatible with only a few coins and its price at $149 is comparable with the other options. 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 wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is up to the individual.