The world of cryptocurrency has seen an increase in the number of physical 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 will stand out from the crowd by providing an unrivalled solution. In this article, we’ll take a close look at the Ellipal wallet and the company behind it and the features it offers to help you determine whether it’s worth investing in.
Hardware wallets are gadget that keeps the private key of your financial assets offline, preventing hackers from stealing your data remotely. The Ellipal wallet promises to be 100% secure since it is completely isolated from any network or computer. This means it is not wireless or wired connectivity, but instead communicates via QR codes through a camera on the back of the device. The Ellipal wallet costs $149 and is fairly new to the market, meaning that it has not been battle-tested yet.
Ellipal The company behind the hardware wallet is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The website of the company and its online reviews claim they are completely secure, but it’s important to keep in mind that hardware wallets of competing businesses like TREZOR and Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR on a compromised system which is infected by viruses, your private keys are still safe and secure.
Ellipal’s source code is only partially open, and similar to Ledger the company has the Github repository that showcases their Cross-chain wallet framework as well in their JS-Lib, which is available to developers to develop apps with the framework. For comparison, both major hardware wallet makers currently (TREZOR as well as Ledger) have a large amount of their code on public repositories, making it easy to see how they go about implementing security measures.
The Ellipal wallet currently supports only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger.
The price of $149 of Ellipal wallet is a bargain. Ellipal wallet is comparable with its competitors, but it is important to note that it is a relatively new product that hasn’t been tested for battle. In comparison to TREZOR or Ledger wallets that have been on the market for longer and have an established track record of security The Ellipal wallet might not be the best value for your budget.
In conclusion it is clear that it is clear that the Ellipal device is an brand new player on the hardware wallet market that claims to be 100% safe due to its total separation from any computer or network. The company behind it is new and the product isn’t test-driven yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a completely isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other wallets prior to making a decision. The final decision on whether the Ellipal wallet is worth the cost is entirely up to the user.