The cryptocurrency market has seen a rise in the number of physical wallets on the market, each promising to keep your digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the newest player in this field, and it will stand out from the rest by providing an entirely separate solution. In this post, we’ll look at a more in-depth look at the Ellipal wallet, 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 stores the private key of your financial assets indefinitely, preventing hackers from stealing them remotely. The Ellipal wallet promises to be 100% secure as it is completely disconnected from any computer or network. This means it has no wired or wireless connectivity and instead, it communicates with QR codes through an image camera at the back of the device. The Ellipal wallet retails for $149 and is fairly new to the market, meaning that it hasn’t been battle-tested yet.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The website of the company as well as online reviews claim that their hardware wallet is 100% secure, however, it’s important to remember that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no one outside can view your private key. For example, even if you connect your TREZOR with a compromised device that is infected with viruses, your private keys remain safe and safe.
Ellipal’s source code remains partially accessible, and is as with Ledger and Ledger, they have a Github repository that showcases their Cross-chain wallet framework aswell as their JS-Lib for developers to develop apps with them. For comparison, both major hardware wallet makers currently (TREZOR as well as Ledger) possess a large quantity of their software on public repositories, making it easy to see the security measures they have implemented.
The Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is lower than the number of coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 for Ellipal wallet is a bargain. Ellipal wallet is comparable with its competitors, but it’s important to remember that it’s a new product that has not been battle-tested yet. In comparison to TREZOR as well as Ledger wallets that are on the market for longer and have an established track history of security The Ellipal wallet might not be the best value for your cash.
In the end it is clear that the Ellipal device is an fresh competitor in the market for hardware wallets and promises that it is 100% secure due to its complete separation from any network or computer. The company behind it is new, and it hasn’t been test-driven yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with its competitors. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other hardware wallets prior to making a choice. The final decision on whether the Ellipal wallet is worth the price is entirely up to the user.