The cryptocurrency world has witnessed a rise in the number of hardware wallets on the market that promise that your digital assets will be safe and secure. The Ellipal wallet is a new player in the field, and 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 look at the Ellipal wallet as well as its company that makes it and its features to help you determine if it’s worth the investment.
A hardware wallet is a device which keeps the private keys for your personal digital accounts indefinitely to prevent hackers from stealing the funds remotely. The Ellipal wallet promises to be 100% secure since it is completely unconnected to any network or computer. This means that it is not wireless or wired connectivity, but instead communicates via QR codes through an image camera at the rear end. The Ellipal wallet costs $149 and is fairly new to the market, meaning that it has not been test-driven yet.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance its development. The company’s website and online reviews state they are completely safe, however it is important to remember that hardware wallets from rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised computer that has been infected with viruses, your private keys will remain safe and secured.
Ellipal’s source code remains partially accessible, and is as with Ledger and 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 them. As a contrast, both of the leading hardware wallet manufacturers currently (TREZOR as well as Ledger) are both able to have considerable amount of their code on public repositories, making it simple to understand the security measures they have implemented.
The Ellipal wallet currently supports the following coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger.
The price of $149 of the Ellipal wallet is on par with the other wallets on the market, but it is important to note that it is a relatively new product that hasn’t been tested in battle yet. If you compare it to TREZOR and Ledger wallets, which are on the market for longer and have a long-standing track performance in security The Ellipal wallet might not be the most value-for-money money.
In conclusion, the Ellipal wallet has been a brand new competitor in the market for hardware wallets and promises to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is new, and the product isn’t tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins, and its price tag of $149 is on par with other wallets. While the idea of a completely isolated hardware wallet is intriguing but it’s crucial to look at the history and security measures of other hardware wallets prior to making a choice. The final decision on whether or not the Ellipal product is worthy of the cost is up to the individual.