The cryptocurrency market has seen an increase in the number of hardware wallets on the market all promising to keep your digital assets safe and safe. It is the Ellipal wallet is the newest competitor in this space It is aiming to differentiate itself from its competitors by offering a completely isolated solution. In this article, we’ll take you on a close 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 investing in.
The hardware wallet can be described as a device that keeps the private key for your personal digital accounts indefinitely and prevents hackers from taking the funds remotely. The Ellipal wallet promises to be 100% secure as it is completely unconnected to any network or computer. This means it is not wireless or wired connectivity, but instead, it communicates with QR codes through an image camera at the rear of the wallet. The Ellipal wallet is priced at $149. It is relatively new on the market, meaning that it has not been test-driven yet.
Ellipal The company behind the hardware wallet is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of competing businesses like TREZOR as well as Ledger are made in a way that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR on a compromised computer which is infected by viruses your private keys are still safe and secure.
Ellipal’s source code remains partially accessible, and is like Ledger the company has the Github repository available that shows their Cross-chain wallet platform as well in their JS-Lib, which is available to any App developer to work with the framework. For comparison, both major hardware wallet companies today (TREZOR as well as Ledger) are both able to have significant amount of their code stored in public repositories, which makes it easy to observe the security measures they have implemented.
The Ellipal wallet is currently compatible with only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is lower than the number of coins supported by its competitors, TREZOR and Ledger.
The $149 price tag for the Ellipal wallet is on par with its competitors, but it’s important to keep in mind that it is a relatively new product that has not been battle-tested yet. If you compare it to TREZOR or Ledger wallets that are available for longer and have a long-standing track performance in security and reliability, the Ellipal wallet may not be the best value for your budget.
In the end, the Ellipal wallet is a brand new competitor in the market for hardware wallets and promises to be 100% secure because of its complete separation from any computer or network. The company behind it is relatively 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 of $149 is on par with other wallets. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallets before making a choice. The final decision on whether the Ellipal device is worthwhile for the price is up to the individual.