The cryptocurrency market has seen an increase in the number and variety of hardware wallets available on the market that promise that your digital assets will be safe and safe. It is the Ellipal wallet is a new player in the field and is aiming to differentiate itself from the rest by providing an unrivalled solution. In this article, we’ll take you on a close look at the Ellipal wallet and its company that makes it, and the features that it has to offer to help you determine if it’s worth the investment.
A hardware wallet is a gadget that keeps the private key for your personal digital accounts off-line, preventing hackers from stealing the funds remotely. The Ellipal wallet claims to be 100% secure because it is completely unconnected to any network or computer. This means it is not wired or wireless connection and instead, it communicates with QR codes via an image camera at the rear of the wallet. The Ellipal wallet is priced at $149. It is relatively new to the market, meaning that it hasn’t been battle-tested yet.
Ellipal, the company that developed the hardware wallet is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews claim they are 100% secure, but it’s important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are also designed in a way that no one outside can see your private key. In the event that, for instance, you connect your TREZOR on a compromised device which is infected by viruses, your private keys remain safe and secured.
Ellipal’s source code is only partially available, and, as with Ledger, they have an Github repository which demonstrates their Cross-chain wallet framework as well the JS-Lib that allows developers to develop apps with the framework. In comparison, both leading hardware wallet manufacturers currently (TREZOR as well as Ledger) are both able to have large amount of their code on public repositories. This makes it easy to observe how they implement security measures.
The Ellipal wallet currently supports the following coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that its competitors support, TREZOR and Ledger.
The price of $149 of the Ellipal wallet is on par with its competitors, but it’s important to remember that it is a relatively new product that has not been tested in battle yet. In comparison to TREZOR and Ledger wallets, which are available for longer and have a proven track record of security The Ellipal wallet isn’t the best value for budget.
In the end In conclusion, the Ellipal wallet has been a new player on the market for hardware wallets that claims to be completely safe due to its total isolation from any network or computer. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports a limited number of coins and its price of $149 is in line with other wallets. Although the concept of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other wallets prior to making a choice. The final decision on whether the Ellipal device is worthwhile for the cost is up to the individual.