The cryptocurrency market has seen an increase in the number and variety of hardware wallets available on the market that promise to keep your digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new player in the field and aims to stand out from the rest by providing an unrivalled solution. In this article, we’ll take you on a close look at the Ellipal wallet, the business behind it, and the features it offers to help you determine whether it’s worth the money.
The hardware wallet can be described as a gadget that stores the private key to your digital assets indefinitely, preventing 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 connectivity and instead, it communicates with QR codes using cameras on the rear of the wallet. The Ellipal wallet costs $149 and 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. They raised $55K in an Indiegogo campaign to finance its development. The company’s website and reviews online claim they are 100% secure, however, it’s important to remember that hardware wallets of competing businesses like TREZOR and Ledger are made 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 that is infected with viruses, your private keys will remain safe and secure.
Ellipal’s source code is only partially open, and like Ledger the company has an Github repository that showcases their Cross-chain wallet framework as well as their JS-Lib for any app developer to work with their framework. For comparison, both major hardware wallet manufacturers currently (TREZOR as well as Ledger) possess a large amount of their code in public repositories, which makes it easy to see how they go about implementing security measures.
The Ellipal wallet currently supports the following coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the coins that its competitors support, TREZOR and Ledger.
The $149 price tag to purchase Ellipal wallet is a bargain. Ellipal wallet is comparable with its competitors, but it’s important to remember that it is a relatively new product and has not been battle-tested yet. When compared to the TREZOR or Ledger wallets that are on the market for longer and have a proven track performance in security The Ellipal wallet isn’t the most value-for-money money.
In the end, Ellipal wallet is a good choice. Ellipal device is an new player on the market for hardware wallets and promises to be 100% secure because of its complete inaccessibility to any computer or network. Ellipal is a company that’s new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is on par with the other options. Although the concept of a totally separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallets before making a choice. Ultimately, the decision of whether the Ellipal device is worthwhile for the cost is entirely up to the person who purchases it.