The world of cryptocurrency has seen a rise in the number and variety of hardware wallets on the market that promise to keep your digital assets safe and secure. The Ellipal wallet is a new player in the field It aims to stand out from the crowd by providing an unrivalled solution. In this article, we’ll take you on a closer look at the Ellipal wallet, the company behind it and the features that it has to offer to help you determine whether it’s worth investing in.
Hardware wallets are gadget which keeps the private keys of your financial assets off-line to prevent hackers from stealing them remotely. The Ellipal wallet promises to be 100% secure as it is completely isolated from any computer or network. This means it is not wired or wireless connection and instead, it communicates with QR codes via an image camera at the back of the device. The Ellipal wallet is priced at $149. It is fairly new to the market, which implies it isn’t tested in battle yet.
Ellipal, the company that developed the hardware wallet, is a relatively new player in the market. It raised $55K through an Indiegogo campaign to fund its development. The website of the company and its reviews online claim the hardware wallet as completely secure, however, it’s important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised device that has been infected with viruses your private keys will remain safe and safe.
Ellipal’s source code remains partially accessible, and is similar to Ledger and Ledger, they have the Github repository which demonstrates their Cross-chain wallet platform as well as their JS-Lib for developers to develop apps with the framework. In comparison, both leading hardware wallet makers currently (TREZOR and Ledger) have a significant amount of their code on public repositories, making it easy to observe the security measures they have implemented.
The Ellipal wallet is currently compatible with the following coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger.
The price of $149 of the 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 for battle. In comparison to TREZOR as well as Ledger wallets that are available longer and have an established track history of security and reliability, the Ellipal wallet may not be the best value for cash.
In the end In conclusion, it is clear that the Ellipal wallet is a brand new player on the market for hardware wallets and promises that it is 100% secure because of its complete isolation from any network or computer. Its creators are relatively new and the product isn’t tested in battle yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with other wallets. While the idea of a totally separated hardware wallet sounds appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthy of the cost is up to the individual.