The cryptocurrency world has witnessed a rise in the number of hardware wallets on the market that promise that your digital assets will be safe and secure. The Ellipal wallet is the newest competitor in this space 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 as well as the business behind it and the features that it has to offer to help you determine whether it’s worth the money.
The hardware wallet can be described as a device which keeps the private keys of your financial assets indefinitely and prevents hackers from taking them remotely. The Ellipal wallet claims to be 100% secure since it is completely unconnected to any network or computer. This means it has no wired or wireless connection and instead communicates through QR codes through an image camera at the rear of the wallet. The Ellipal wallet retails for $149 and is fairly new to the market, which means that it hasn’t been battle-tested yet.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim they are 100% secure, however, it’s important to remember that hardware wallets from rival firms such as TREZOR and Ledger are constructed in a manner that no one outside can access your private keys. For example, even if you connect your TREZOR on a compromised device that has been infected with viruses Your private keys are still safe and secure.
Ellipal’s source code remains partially available, and, similar to Ledger, they have an Github repository that showcases their Cross-chain wallet platform as well in their JS-Lib, which is available to developers to develop apps with their framework. In comparison, both leading hardware wallet companies today (TREZOR and Ledger) have a large amount of their code on public repositories. This makes it simple to understand how they go about implementing security measures.
The Ellipal wallet is currently compatible with only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 to purchase this Ellipal wallet is comparable with its competitors, but it’s important to remember that it is a relatively new product that hasn’t been battle-tested yet. If you compare it to TREZOR or Ledger wallets, which are on the market longer and have a long-standing track performance in security and reliability, the Ellipal wallet isn’t the most value-for-money money.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market for hardware wallets that claims to be 100% secure due to its complete inaccessibility to any network or computer. The company behind it is new, and the product has not been test-driven yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with its competitors. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the track record and security 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.