The cryptocurrency market has seen a rise in the number and variety of hardware wallets on the market that promise to keep your digital assets safe and safe. It is the Ellipal wallet is the newest player in the field and aims to stand out from the crowd by providing an entirely separate solution. In this article, we’ll take you on a more in-depth look at the Ellipal wallet as well as the business behind it and the features it offers to help you determine whether it’s worth the money.
A hardware wallet is a gadget which keeps the private keys for your personal digital accounts offline, preventing hackers from stealing the funds remotely. The Ellipal wallet promises to be 100% secure as it is completely isolated from any computer or network. This means it is not wired or wireless connectivity and instead communicates through QR codes through a camera on the rear of the wallet. The Ellipal wallet retails for $149 and is relatively new on the market, which means that it hasn’t been test-driven yet.
Ellipal, the company behind the wallet’s hardware is a relatively young player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its online reviews claim that their hardware wallet is completely secure, but it’s important to remember that hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if it is possible to connect your TREZOR on a compromised device which is infected by viruses Your private keys remain safe and secured.
Ellipal’s source code remains partially available, and, like Ledger the company has the Github repository available that shows their Cross-chain wallet platform as well as their JS-Lib for any app developer to work with their framework. As a contrast, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) are both able to have considerable amount of their code on public repositories. This makes it simple to understand how they go about implementing security measures.
The Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is lower than the coins that are supported by its rivals, TREZOR and Ledger.
The price of $149 for the Ellipal wallet is on par with the other wallets on the market, but it’s important to keep in mind that it is a relatively new product and has not been battle-tested yet. If you compare it to TREZOR and Ledger wallets, which are on the market longer and have a long-standing track performance in security, the Ellipal wallet isn’t the best value for money.
In the end, it is clear that the Ellipal device is an new player in the market for hardware wallets that claims to be 100% safe due to its total inaccessibility to any network or computer. Its creators are relatively new and it hasn’t been tested in battle yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with its competitors. Although the concept of a fully separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets before making a choice. The final decision on whether the Ellipal wallet is worth the price is entirely up to the user.