The cryptocurrency market has seen an increase in the number and variety of hardware 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 It will stand out from the crowd by providing an entirely separate solution. In this article, we’ll take a closer look at the Ellipal wallet as well as the company behind it and the features it offers to help you determine whether it’s worth investing in.
The hardware wallet can be described as a device that stores the private key of your financial assets off-line, preventing hackers from stealing the funds remotely. The Ellipal wallet is 100% secure since it is completely disconnected from any network or computer. It has no wired or wireless connectivity and instead communicates via QR codes via a camera on the rear end. The Ellipal wallet retails for $149 and is fairly new to the market, meaning it isn’t battle-tested yet.
Ellipal, the company that developed the wallet’s hardware, is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The website of the company as well as reviews online claim that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing companies such as TREZOR and Ledger are constructed in a manner that no outside attacker can see your private key. For example, even if the TREZOR is connected TREZOR with a compromised computer which is infected by viruses your private keys remain safe and secure.
Ellipal’s source code is only partially accessible, and is like Ledger and Ledger, they have a Github repository which demonstrates their Cross-chain wallet framework as well as their JS-Lib for developers to develop apps with them. In comparison, both leading hardware wallet manufacturers currently (TREZOR as well as Ledger) possess a significant quantity of their software on public repositories. This makes it easy to observe how they implement security measures.
The Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is lower than the amount of coins that its competitors support, TREZOR and Ledger.
The price of $149 to purchase this Ellipal wallet is on par with other wallets, however it is important to note that it’s a new product that has not been tested for battle. If you compare it to TREZOR as well as Ledger wallets, which have been on the market longer and have a proven track performance in security, the Ellipal wallet might not be the best value for your cash.
In the end, the Ellipal device is an new player in the hardware wallet market that claims to be 100% safe due to its total separation from any computer or network. Ellipal is a company that’s 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 tag at $149 is comparable with its competitors. While the idea of a totally exclusive hardware wallet is appealing, it’s important to consider the track record and security measures of other wallets before making a decision. In the end, the decision on whether the Ellipal device is worthwhile for the cost is entirely up to the person who purchases it.