The cryptocurrency market has seen an increase in the number of physical wallets available on the market, each promising that your digital assets will be safe and safe. The Ellipal wallet is the newest player in the field and aims to stand out from the crowd by providing a completely isolated solution. In this article, we’ll take a closer look at the Ellipal wallet and the business behind it, and the features that it has to offer to help you determine whether it’s worth the money.
A hardware wallet is a device which keeps the private keys of your financial assets indefinitely and prevents hackers from taking the funds remotely. The Ellipal wallet claims to be 100% secure since it is completely disconnected from any network or computer. This means it has no wired or wireless connectivity and instead communicates via QR codes using an image camera at the back of the device. The Ellipal wallet retails for $149 and is fairly new to the market, which implies that it has not been test-driven yet.
Ellipal, the company that developed the wallet’s hardware is a relatively new company on the market. It raised $55K through an Indiegogo campaign to finance the development of their product. The website of the company as well as online reviews state the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of competing firms like TREZOR as well as Ledger are made in a way that no one outside can see your private key. For example, even if the TREZOR is connected TREZOR to a compromised device that has been infected with viruses Your private keys remain safe and safe.
Ellipal’s source code remains partially open, and similar to Ledger, they have an Github repository available that shows their Cross-chain wallet framework aswell in their JS-Lib, which is available to any app developer to work with the framework. For comparison, both major hardware wallet makers currently (TREZOR and Ledger) possess a considerable amount of their code in public repositories, which makes it easy to observe how they implement security measures.
The Ellipal wallet currently supports the following coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is lower than the coins supported by its competitors, TREZOR and Ledger.
The price tag of $149 for the Ellipal wallet is on par with the other wallets on the market, but it’s important to keep in mind that it is a relatively new product that hasn’t been tested in battle yet. When compared to the TREZOR or Ledger wallets that have been on the market longer and have a long-standing track history of security The Ellipal wallet isn’t the most value-for-money cash.
In the end, it is clear that the Ellipal device is an brand new competitor in the hardware wallet market and promises to be completely secure because of its complete separation from any computer or network. The company behind it is relatively new, and it hasn’t been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag at $149 is comparable with other wallets. While the idea of a fully separated hardware wallet sounds 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 wallet is worth the cost is entirely up to the user.