The world of cryptocurrency has seen an increase in the number and variety of hardware wallets available on the market that promise that your digital assets will be safe and secure. The Ellipal wallet is the newest competitor in this space, and it is aiming to differentiate itself from the rest by providing a completely isolated solution. In this article, we’ll take you on a closer look at the Ellipal wallet, the business behind it, and the features it offers to help you determine whether it’s worth investing in.
Hardware wallets are gadget that keeps the private key for your personal digital accounts indefinitely, preventing hackers from stealing your data remotely. The Ellipal wallet claims to be 100% secure because it is completely disconnected from any computer or network. This means it does not have wired or wireless connection and instead, it communicates with QR codes using cameras on the rear end. The Ellipal wallet costs $149 and is fairly new to the market, which implies it isn’t tested in battle yet.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to fund research and development for their products. The company’s website and reviews online claim the hardware wallet as 100% safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to see your private key. For example, even if you connect your TREZOR on a compromised system that is infected with viruses your private keys remain safe and secured.
Ellipal’s source code remains partially open, and as with Ledger and Ledger, they have an Github repository which demonstrates their Cross-chain wallet framework aswell in their JS-Lib, which is available to any app developer to work with the framework. As a contrast, both of the leading hardware wallet companies currently (TREZOR as well as Ledger) possess a considerable amount of their code stored on public repositories. This makes it simple to understand how they go about implementing security measures.
The Ellipal wallet currently supports the following coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is lower than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The $149 price tag to purchase Ellipal wallet is a bargain. Ellipal wallet is in line with its competitors, but it’s important to remember that it’s a new product that hasn’t been tested for battle. If you compare it to TREZOR as well as Ledger wallets that are available longer and have a long-standing track history of security The Ellipal wallet might not be the best value for money.
In conclusion In conclusion, it is clear that the Ellipal device is an brand new competitor in the market for hardware wallets and promises to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s new and the product isn’t test-driven yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with the other options. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a decision. The final decision on whether the Ellipal wallet is worth the price is entirely up to the person who purchases it.