The cryptocurrency world has witnessed a rise in the number and variety of hardware wallets that are available that promise that your digital assets will be safe and safe. The Ellipal wallet is a brand new player in the field It is aiming to differentiate itself from the rest by providing an entirely separate solution. In this post, we’ll look at a close review of the Ellipal wallet and its company that makes it, and the features it offers to help you decide whether it’s worth investing in.
Hardware wallets are device which keeps the private keys of your financial assets off-line, preventing hackers from stealing them remotely. The Ellipal wallet is 100% secure as it is completely isolated from any network or computer. It is not wireless or wired connectivity, but instead, it communicates with QR codes using an image camera at the rear of the wallet. The Ellipal wallet retails for $149 and is relatively new to the market, which implies that it hasn’t been test-driven yet.
Ellipal, the company that developed the wallet’s hardware component, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its online reviews state they are 100% secure, but it’s important to remember that hardware wallets of rival firms like TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys remain safe and safe.
Ellipal’s source code is partially open, and as with Ledger and Ledger, they have the Github repository which demonstrates their Cross-chain wallet framework aswell in their JS-Lib, which is available to developers to develop apps with them. In comparison, both leading hardware wallet companies today (TREZOR and Ledger) possess a large amount of their code stored on public repositories. This makes it easy to observe how they go about implementing security measures.
The Ellipal wallet supports the following coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that its competitors support, TREZOR and Ledger.
The price tag of $149 to purchase this Ellipal wallet is in line with its competitors, but it’s important to remember that it is a relatively new product and has not been battle-tested yet. If you compare it to TREZOR or Ledger wallets, which have been on the market longer and have a long-standing track performance in security, the Ellipal wallet may not be the best value for budget.
In conclusion, the Ellipal wallet is a brand new player on the market for hardware wallets that claims to be 100% secure due to its complete inaccessibility to any computer or network. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is in line with other wallets. Although the concept of a fully exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is entirely up to the person who purchases it.