The cryptocurrency market has seen an increase in the number of physical wallets available on the market that promise that your digital assets will be safe and secure. It is the Ellipal wallet is a new player in this field and will stand out from the crowd by providing an entirely separate solution. In this article, we’ll take a close look at the Ellipal wallet and the company behind it, and the features it offers to help you determine whether it’s worth the money.
Hardware wallets are device that stores the private key of your financial assets off-line and prevents hackers from taking your data remotely. The Ellipal wallet is 100% secure since it is completely unconnected to any network or computer. This means that it does not have wireless or wired connectivity, but instead communicates through QR codes via an image camera at the rear of the wallet. The Ellipal wallet costs $149 and is fairly new to the market, which implies that it has not been tested in battle yet.
Ellipal, the company behind the wallet’s hardware, is a relatively new competitor in the market. They raised $55K in an Indiegogo campaign to help fund its development. The company’s website and reviews online claim the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, you connect your TREZOR on a compromised computer that is infected with viruses your private keys remain safe and secured.
Ellipal’s source code is only partially accessible, and is similar to Ledger and Ledger, they have an 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 their framework. In comparison, both leading hardware wallet companies today (TREZOR as well as Ledger) have a considerable amount of their code in public repositories, which makes it simple to understand the security measures they have implemented.
The Ellipal wallet is currently compatible with a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is lower than the number of coins that are supported by its rivals, TREZOR and Ledger.
The price of $149 to purchase this Ellipal wallet is on par with the other wallets on the market, but it is important to note that it is a relatively new product that hasn’t been tested in battle yet. If you compare it to TREZOR as well as Ledger wallets that have been on the market for longer and have an established track history of security The Ellipal wallet might not be the most value-for-money cash.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new player on the hardware wallet market and promises that it is 100% secure because of its complete separation from any computer or network. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with other wallets. Although the concept of a completely separated hardware wallet sounds appealing 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 user.