The cryptocurrency world has witnessed an increase in the number of hardware wallets that are available, each promising to keep your digital assets safe and secure. The Ellipal wallet is a brand new player in the field and aims to stand out from the rest by providing an unrivalled solution. In this post, we’ll look at a more in-depth look at the Ellipal wallet and its company that makes it, and the features it offers to help you determine whether it’s worth the money.
Hardware wallets are gadget that stores the private key to your digital assets off-line and prevents hackers from taking them remotely. The Ellipal wallet claims to be 100% secure since it is completely unconnected to any computer or network. This means it has no wired or wireless connectivity and instead communicates through QR codes via cameras on the rear end. The Ellipal wallet is priced at $149. It is relatively new on the market, which implies that it has not been tested in battle yet.
Ellipal The company behind the hardware wallet, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund its development. The website of the company as well as reviews online claim the hardware wallet as completely safe, however it is important to remember that 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 instance, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses your private keys will remain safe and secured.
Ellipal’s source code is only partially open, and similar to Ledger, they have the 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 their framework. As a contrast, both of the leading hardware wallet manufacturers currently (TREZOR and Ledger) possess a large amount of their code stored on public repositories, making it simple to understand the security measures they have implemented.
The Ellipal wallet currently supports only a few coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is lower than the coins supported by its competitors, TREZOR and Ledger.
The $149 price tag of Ellipal wallet is a bargain. Ellipal wallet is on par with the other wallets on the market, but it’s important to remember that it is a relatively new product and has not been battle-tested yet. When compared to the TREZOR or Ledger wallets, which are on the market longer and have an established track record of security, the Ellipal wallet may not be the best value for budget.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market for hardware wallets, promising to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is in line with its competitors. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal device is worthwhile for the cost is up to the individual.