The cryptocurrency world has witnessed 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 a brand new competitor in this space, and it is aiming to differentiate itself from its competitors by offering an unrivalled solution. In this post, we’ll look at a closer look at the Ellipal wallet and its company that makes it and the features it offers to help you determine whether it’s worth the money.
The hardware wallet can be described as a gadget that stores the private key to your digital assets off-line and prevents hackers from taking your data remotely. The Ellipal wallet promises to be 100% secure as it is completely disconnected from any computer or network. This means it is not wired or wireless connectivity 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 fairly new to the market, meaning it isn’t battle-tested yet.
Ellipal, the company behind the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company and its reviews online claim they are 100% secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised device that is infected with viruses Your private keys remain safe and secured.
Ellipal’s source code is partially open, and similar to Ledger and Ledger, they have a Github repository which demonstrates their Cross-chain wallet framework as well in their JS-Lib, which is available to any App developer to work with them. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) possess a significant amount of their code stored on public repositories. This makes it easy to see how they implement security measures.
The Ellipal wallet currently supports the following coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 to purchase Ellipal wallet is a bargain. Ellipal wallet is comparable with the other wallets on the market, but it’s important to remember that it is a relatively new product that has not been tested in battle yet. When compared to the TREZOR and Ledger wallets, which are available for longer and have a proven track history of security and reliability, the Ellipal wallet isn’t the best value for money.
In conclusion it is clear that the Ellipal wallet is a brand new player in the market for hardware wallets and promises to be 100% safe due to its total separation from any network or computer. Its creators are new and it hasn’t been battle-tested yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with its competitors. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is worthwhile for the price is up to the individual.