The cryptocurrency market has seen a rise in the number of physical wallets on the market that promise that your digital assets will be safe and secure. It is the Ellipal wallet is a brand new player in this field It will stand out from the crowd by providing an unrivalled solution. In this article, we’ll take you on a more in-depth 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.
The hardware wallet can be described as a device which keeps the private keys to your digital assets indefinitely and prevents hackers from taking the funds remotely. The Ellipal wallet is 100% secure as it is completely isolated from any computer or network. This means that it is not wired or wireless connectivity and instead, it communicates with QR codes via an image camera at the rear end. The Ellipal wallet retails for $149 and is relatively new on the market, meaning that it has not been test-driven yet.
Ellipal, the company behind the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews claim they are 100% secure, but it’s important to remember that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if the TREZOR is connected TREZOR with 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 as with Ledger, they have a Github repository which demonstrates their Cross-chain wallet platform as well as their JS-Lib for any app developer to work with their framework. In comparison, both leading hardware wallet manufacturers currently (TREZOR and Ledger) are both able to have considerable amount of their code stored on public repositories. This makes it easy to see the security measures they have implemented.
The Ellipal wallet supports only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is lower than the number of coins that its competitors support, TREZOR and Ledger.
The price tag of $149 of this Ellipal wallet is comparable with the other wallets on the market, but it’s important to keep in mind that it is a relatively new product that has not been battle-tested yet. In comparison to TREZOR or Ledger wallets, which are available longer and have an established track history 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 is a fresh player in the hardware wallet market, promising that it is 100% secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new and it hasn’t been tested in battle yet. The Ellipal wallet supports only a few coins and the price of $149 is in line with other wallets. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal product is worthy of the cost is up to the individual.