The cryptocurrency market has seen 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 brand new player in this field It will stand out from the crowd by providing an entirely separate solution. In this post, we’ll look at a close look at the Ellipal wallet, the company behind it, and the features that it has to offer to help you decide whether it’s worth the money.
Hardware wallets are gadget which keeps the private keys to your digital assets off-line and prevents hackers from taking the funds remotely. The Ellipal wallet promises to be 100% secure because it is completely disconnected from any computer or network. It has no wired or wireless connectivity and instead communicates via QR codes via an image camera at the back of the device. The Ellipal wallet is priced at $149. It is relatively new on the market, which implies that it hasn’t been tested in battle yet.
Ellipal, the company that developed the wallet’s hardware component is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of rival 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 on a compromised device that has been infected with viruses, your private keys will remain safe and secured.
Ellipal’s source code remains partially open, and like Ledger, they have the Github repository available that shows their Cross-chain wallet framework aswell in their JS-Lib, which is available to developers to develop apps with them. In comparison, both leading hardware wallet manufacturers today (TREZOR and Ledger) are both able to have large amount of their code on public repositories. This makes it easy to observe how they go about implementing security measures.
The Ellipal wallet currently supports the following coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is lower than the number of coins that its competitors support, TREZOR and Ledger.
The price tag of $149 of Ellipal wallet is a bargain. Ellipal wallet is in line with other wallets, however it’s important to keep in mind that it is a relatively new product and has not been tested for battle. In comparison to TREZOR as well as Ledger wallets that have been on the market longer and have an established track record of security The Ellipal wallet might not be the most value-for-money budget.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a fresh player on the market for hardware wallets, promising to be 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s new, and the product has not been test-driven yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with its competitors. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallets before making a choice. The final decision on whether or not the Ellipal wallet is worth the price is entirely up to the person who purchases it.