The cryptocurrency market has seen an increase in the number and variety of hardware wallets available on the market all promising that your digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new competitor in this space It is aiming to differentiate itself from the rest by providing an entirely separate solution. In this article, we’ll take you on a closer review of the Ellipal wallet as well as its company that makes it and the features it offers to help you decide if it’s worth the investment.
A hardware wallet is a gadget that keeps the private key of your financial assets off-line, preventing hackers from stealing them remotely. The Ellipal wallet promises to be 100% secure as it is completely disconnected from any network or computer. It is not wireless or wired connectivity, but instead communicates via QR codes via an image camera at the back of the device. The Ellipal wallet costs $149 and is fairly new to the market, which means it isn’t battle-tested yet.
Ellipal The company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to remember that hardware wallets from rival firms like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For example, even if the TREZOR is connected TREZOR on a compromised computer that has been infected with viruses your private keys will remain safe and safe.
Ellipal’s source code remains partially open, and like Ledger and Ledger, they have the Github repository available that shows their Cross-chain wallet platform as well the JS-Lib that allows any App developer to work with them. For comparison, both major hardware wallet manufacturers currently (TREZOR and Ledger) are both able to have significant quantity of their software on public repositories. This makes it easy to see the security measures they have implemented.
The Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger.
The $149 price tag of Ellipal wallet is a bargain. Ellipal wallet is in line with the other wallets on the market, but it is important to note that it’s a new product that has not been tested in battle yet. If you compare it to TREZOR or Ledger wallets that have been on the market longer and have a proven track record of security and reliability, the Ellipal wallet may not be the best value for your cash.
In conclusion In conclusion, the Ellipal wallet is a brand new player on the hardware wallet market that claims to be 100% secure due to its complete inaccessibility to 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 the price at $149 is comparable with other wallets. While the idea of a completely separated hardware wallet sounds appealing however, you should consider the security and track record measures of other wallets before making a choice. The final decision on whether the Ellipal device is worthwhile for the cost is up to the individual.