The world of cryptocurrency has seen a rise in the number and variety of hardware wallets available on the market all promising to keep your digital assets safe and secure. The Ellipal wallet is a new competitor in this space It is aiming to differentiate itself from its competitors by offering an entirely separate solution. In this article, we’ll take you on a closer look at the Ellipal wallet as well as its company that makes it and the features it offers to help you determine whether it’s worth the money.
A hardware wallet is a device which keeps the private keys to your digital assets indefinitely and prevents hackers from taking them remotely. The Ellipal wallet promises to be 100% secure as it is completely disconnected from any computer or network. It does not have wired or wireless connection and instead communicates via QR codes using an image camera at the rear end. The Ellipal wallet is priced at $149. It is relatively new on the market, meaning that it has not been battle-tested yet.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of competing companies such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR to a compromised computer that is infected with viruses Your private keys are still safe and secure.
Ellipal’s source code is partially open, and as with Ledger and Ledger, they have the Github repository which demonstrates their Cross-chain wallet platform as well the JS-Lib that allows any app developer to work with their framework. As a contrast, both of the leading hardware wallet makers currently (TREZOR as well as Ledger) are both able to have considerable quantity of their software on public repositories, making it simple to understand 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 as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The $149 price tag for this Ellipal wallet is comparable with the other wallets on the market, but it’s important to remember that it is a relatively new product that hasn’t been tested in battle yet. When compared to the TREZOR or Ledger wallets, which have been on the market for longer and have a proven track performance in security The Ellipal wallet may not be the most value-for-money money.
In conclusion In conclusion, the Ellipal device is an new player on the hardware wallet market and promises to be 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s relatively new and the product has not been test-driven yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with the other options. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal wallet is worth the cost is up to the individual.