The world of cryptocurrency has seen an increase in the number of physical wallets on the market, each promising that your digital assets will be safe and safe. Ellipal is one of them. Ellipal wallet is a brand new player in the field and is aiming to differentiate itself from the rest by providing a completely isolated solution. In this post, we’ll look at a close look at the Ellipal wallet as well as its company that makes it, and the features it offers to help you decide whether it’s worth the money.
Hardware wallets are device that stores the private key for your personal digital accounts indefinitely to prevent hackers from stealing the funds remotely. The Ellipal wallet is 100% secure as it is completely isolated from any network or computer. This means that it is not wired or wireless connection and instead, it communicates with QR codes using cameras on the rear end. The Ellipal wallet retails for $149 and is relatively new on the market, which means that it hasn’t been battle-tested yet.
Ellipal, the company that developed the wallet’s hardware component, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state they are 100% safe, however it is important to note that the hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to see your private key. For instance, even if it is possible to connect your TREZOR with a compromised computer which is infected by viruses your private keys are still safe and secured.
Ellipal’s source code remains partially available, and, similar to Ledger, they have an Github repository which demonstrates their Cross-chain wallet platform as well as their JS-Lib for developers to develop apps with the framework. For comparison, both major hardware wallet makers today (TREZOR as well as Ledger) are both able to have significant amount of their code stored on public repositories. This makes it easy to see the security measures they have implemented.
The Ellipal wallet currently supports the following coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is lower than the coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 to purchase 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 battle-tested yet. In comparison to TREZOR and Ledger wallets that have been on the market longer and have a long-standing track record of security The Ellipal wallet isn’t the best value for budget.
In conclusion In conclusion, the Ellipal device is an brand new competitor in the hardware wallet market and promises to be completely safe due to its total separation from any computer or network. Its creators are relatively new and the product isn’t battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with other wallets. While the idea of a completely separated hardware wallet sounds appealing, it’s important to consider the track record and security measures of other hardware wallets prior to making a choice. In the end, the decision on whether the Ellipal product is worthy of the price is entirely up to the person who purchases it.