The cryptocurrency market has seen an increase in the number and variety of hardware wallets on the market that promise that your digital assets will be safe and safe. The Ellipal wallet is the newest player in this field and is aiming to differentiate itself from the crowd by providing an entirely separate solution. In this post, we’ll look at a close review of the Ellipal wallet, its company that makes it, and its features to help you determine if it’s worth the investment.
A hardware wallet is a device that keeps the private key for your personal digital accounts offline, preventing hackers from stealing the funds remotely. The Ellipal wallet promises to be 100% secure since it is completely disconnected from any network or computer. It is not wired or wireless connectivity and instead communicates via QR codes via an image camera at the rear end. The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it hasn’t been test-driven yet.
Ellipal, the company that developed the wallet’s hardware is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The website of the company as well as reviews online claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of rival companies like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys remain safe and secured.
Ellipal’s source code is partially open, and similar to Ledger the company has a Github repository that showcases their Cross-chain wallet platform as well as their JS-Lib for any app developer to work with the framework. For comparison, both major hardware wallet manufacturers today (TREZOR as well as Ledger) have a considerable quantity of their software in public repositories, which makes it easy to see how they implement security measures.
The Ellipal wallet is currently compatible with the following coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the coins that its competitors support, TREZOR and Ledger.
The price tag of $149 to purchase this Ellipal wallet is comparable with other wallets, however it’s important to remember that it’s a new product that hasn’t been tested for battle. If you compare it to TREZOR or Ledger wallets that are available for longer and have an established track record of security, the Ellipal wallet isn’t the best value for budget.
In conclusion In conclusion, the Ellipal device is an fresh player in the market for hardware wallets and promises that it is 100% secure due to its complete inaccessibility to any computer or network. Its creators are new and it hasn’t been battle-tested yet. The Ellipal wallet currently supports only a few coins, and its price tag at $149 is comparable with other wallets. Although the concept of a totally separated hardware wallet sounds appealing however, you should consider the security and track record measures of other hardware wallets before making a decision. The final decision on whether the Ellipal device is worthwhile for the price is up to the individual.