The cryptocurrency market has seen a rise in the number of physical wallets that are available all promising to keep your digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the newest player in this field and aims to stand out from the crowd by providing a completely isolated solution. In this article, we’ll take you on a close look at the Ellipal wallet, the company behind it, and its features to help you decide whether it’s worth investing in.
The hardware wallet can be described as a device that keeps the private key for your personal digital accounts offline and prevents hackers from taking them remotely. The Ellipal wallet promises to be 100% secure since it is completely unconnected to any network or computer. It is not wired or wireless connection and instead communicates through QR codes via cameras on the rear of the wallet. The Ellipal wallet is priced at $149. It is relatively new on the market, which implies that it has not been tested in battle yet.
Ellipal The company behind the wallet’s hardware is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of rival companies such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR with a compromised system which is infected by viruses Your private keys are still safe and secure.
Ellipal’s source code is partially available, and, similar to Ledger and Ledger, they have a Github repository which demonstrates their Cross-chain wallet platform as well the JS-Lib that allows any app developer to work with the framework. For comparison, both major hardware wallet companies today (TREZOR and Ledger) have a considerable amount of their code stored in public repositories, which makes it easy to observe 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, along with ERC20 tokens. This is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The $149 price tag of Ellipal wallet is a bargain. Ellipal wallet is comparable with its competitors, but it’s important to remember that it is a relatively new product and has not been battle-tested yet. If you compare it to TREZOR as well as Ledger wallets, which are on the market for longer and have an established track performance in security and reliability, the Ellipal wallet may not be the best value for your budget.
In conclusion it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the hardware wallet market and promises to be completely secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new, and it hasn’t been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthy of the price is entirely up to the person who purchases it.