The cryptocurrency world has witnessed a rise in the number of hardware wallets that are available, each promising that your digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new player in the field It is aiming to differentiate itself from the crowd by providing an unrivalled solution. In this post, we’ll look at a close look at the Ellipal wallet, the business behind it and the features it offers to help you decide if it’s worth the investment.
The hardware wallet can be described as a device that keeps the private key to your digital assets offline and prevents hackers from taking them remotely. The Ellipal wallet promises to be 100% secure because it is completely isolated from any computer or network. It is not wired or wireless connectivity and instead communicates via QR codes through an image camera at the rear of the wallet. The Ellipal wallet costs $149 and is fairly new to the market, which means that it hasn’t been test-driven yet.
Ellipal, the company that developed the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state that their hardware wallet is completely safe, however it is important to remember that hardware wallets of competing firms such as TREZOR and Ledger are also designed in a way that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised device that is infected with viruses your private keys are still safe and safe.
Ellipal’s source code is only partially open, and like Ledger, they have a Github repository that showcases their Cross-chain wallet framework aswell as their JS-Lib for developers to develop apps with them. In comparison, both leading hardware wallet companies today (TREZOR and Ledger) are both able to have considerable amount of their code in public repositories, which makes it easy to see how they implement security measures.
The Ellipal wallet currently supports only a few coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that its competitors support, TREZOR and Ledger.
The price of $149 of this Ellipal wallet is in line with the other wallets on the market, but it is important to note that it is a relatively new product that hasn’t been tested for battle. When compared to the TREZOR and Ledger wallets that have been on the market longer and have an established track record of security and reliability, the Ellipal wallet isn’t the most value-for-money money.
In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new competitor in the market for hardware wallets that claims to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing, it’s important to consider the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal device is worthwhile for the price is entirely up to the person who purchases it.