The cryptocurrency market has seen a rise in the number and variety of hardware wallets that are available that promise to keep your digital assets safe and safe. Ellipal is one of them. Ellipal wallet is a new player in the field and aims to stand out from its competitors by offering an unrivalled solution. In this article, we’ll take a more in-depth look at the Ellipal wallet, the business behind it, and its features to help you decide whether it’s worth investing in.
The hardware wallet can be described as a gadget which keeps the private keys to your digital assets offline and prevents hackers from taking your data remotely. The Ellipal wallet is 100% secure since it is completely isolated from any network or computer. This means that it does not have wired or wireless connection and instead communicates through QR codes using cameras on the rear of the wallet. The Ellipal wallet retails for $149 and is relatively new to the market, which implies it isn’t tested in battle yet.
Ellipal, the company that developed the wallet’s hardware component is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to help fund its development. The website of the company as well as reviews online claim they are completely safe, however it is important to remember that hardware wallets from rival businesses like TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system that is infected with viruses, your private keys remain safe and secure.
Ellipal’s source code is only partially open, and as with Ledger, they have an Github repository that showcases their Cross-chain wallet framework as well in their JS-Lib, which is available to any app developer to work with the framework. In comparison, both leading hardware wallet makers currently (TREZOR and Ledger) have a large amount of their code on public repositories, making it simple to understand the security measures they have implemented.
The Ellipal wallet supports the following coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The price of $149 for the Ellipal wallet is comparable with other wallets, however it’s important to keep in mind that it is a relatively new product and has not been battle-tested yet. When compared to the TREZOR and Ledger wallets that are on the market longer and have an established track history of security and reliability, the Ellipal wallet isn’t the best value for money.
In the end In conclusion, it is clear that the Ellipal device is an brand new competitor in the market for hardware wallets and promises to be completely secure due to its complete separation from any computer or network. The company behind it is new, and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with other wallets. While the idea of a totally isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallet options before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the person who purchases it.