The cryptocurrency market has seen an increase in the number of physical wallets available on the market, each promising that your digital assets will be safe and safe. Ellipal is one of them. Ellipal wallet is a new player in this field It is aiming to differentiate itself from the rest by providing an entirely separate solution. In this article, we’ll take a more in-depth review of the Ellipal wallet, its company that makes it, and its features to help you decide if it’s worth the investment.
Hardware wallets are device that stores the private key to your digital assets off-line to prevent hackers from stealing them remotely. The Ellipal wallet claims to be 100% secure since it is completely disconnected from any network or computer. This means it has no wireless or wired connectivity, but instead communicates through QR codes using an image camera at the rear of the wallet. The Ellipal wallet retails for $149 and is relatively new on the market, which implies that it has not been test-driven yet.
Ellipal, the company that developed the hardware wallet is a relatively young competitor in the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company as well as reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets of competing businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised system that has been infected with viruses Your private keys remain safe and safe.
Ellipal’s source code is only partially open, and like Ledger, they have the Github repository that showcases their Cross-chain wallet framework aswell as their JS-Lib for any App developer to work with the framework. For comparison, both major hardware wallet companies currently (TREZOR as well as Ledger) have a large amount of their code on public repositories, making it simple to understand the security measures they have implemented.
The Ellipal wallet currently supports a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger.
The price tag of $149 to purchase Ellipal wallet is a bargain. Ellipal wallet is in line with other wallets, however it is important to note that it is a relatively new product and has not been tested for battle. When compared to the TREZOR and Ledger wallets that are on the market for longer and have an established track history of security and reliability, the Ellipal wallet isn’t the best value for money.
In conclusion In conclusion, it is clear that the Ellipal device is an brand new competitor in the hardware wallet market and promises to be 100% safe due to its total separation from any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and the price of $149 is on par with other wallets. While the idea of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal device is worthwhile for the price is up to the individual.