The cryptocurrency market has seen a rise in the number and variety of hardware wallets that are available that promise that your digital assets will be safe and safe. Ellipal is one of them. Ellipal wallet is a new player in the field, and it is aiming to differentiate itself from its competitors by offering an unrivalled solution. In this article, we’ll take you on a more in-depth look at the Ellipal wallet and the company behind it and the features that it has to offer to help you decide whether it’s worth the money.
A hardware wallet is a gadget that stores the private key to your digital assets off-line, preventing hackers from stealing them remotely. The Ellipal wallet promises to be 100% secure since it is completely disconnected from any network or computer. This means that it does not have wired or wireless connection and instead communicates through QR codes via a camera on the back of the device. The Ellipal wallet costs $149 and is relatively new on the market, meaning that it hasn’t been battle-tested yet.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The website of the company as well as online reviews claim they are completely secure, but it’s important to remember that hardware wallets of rival companies such as TREZOR and Ledger are made in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys remain safe and safe.
Ellipal’s source code remains partially available, and, like Ledger, they have the Github repository available that shows their Cross-chain wallet framework aswell as their JS-Lib for any app developer to work with the framework. For comparison, both major hardware wallet manufacturers today (TREZOR as well as Ledger) are both able to have significant quantity of their software on public repositories. This makes it easy to observe the security measures they have implemented.
The Ellipal wallet supports only a few coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 of the Ellipal wallet is comparable with the other wallets on the market, but it’s important to keep in mind that it is a relatively new product and has not been battle-tested yet. In comparison to TREZOR as well as Ledger wallets, which have been on the market longer and have a proven track record of security, the Ellipal wallet might not be the best value for your money.
In conclusion In conclusion, the Ellipal wallet is a fresh competitor in the market for hardware wallets, promising to be completely secure due to its complete inaccessibility to any computer or network. Its creators are new and it hasn’t been test-driven yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with other wallets. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallet options before making a choice. The final decision on whether the Ellipal product is worthy of the price is up to the individual.