The cryptocurrency market has seen an increase in the number of hardware wallets that are available that promise to keep your digital assets safe and secure. The Ellipal wallet is a brand new competitor in this space, and it will stand out from the rest by providing an entirely separate solution. In this post, we’ll look at a close look at the Ellipal wallet and the business behind it and the features that it has to offer to help you determine whether it’s worth investing in.
A hardware wallet is a device that stores the private key for your personal digital accounts offline to prevent hackers from stealing your data remotely. The Ellipal wallet claims to be 100% secure as it is completely unconnected to any network or computer. This means it has no wireless or wired connectivity, but instead communicates through QR codes through an image camera at the rear of the wallet. The Ellipal wallet costs $149 and is fairly new to the market, meaning that it hasn’t been battle-tested yet.
Ellipal, the company that developed the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of rival firms such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if you connect your TREZOR to a compromised system which is infected by viruses Your private keys remain safe and secured.
Ellipal’s source code remains partially accessible, and is similar to Ledger and Ledger, they have a Github repository available that shows their Cross-chain wallet platform as well the JS-Lib that allows any app developer to work with the framework. As a contrast, both of the leading hardware wallet manufacturers currently (TREZOR and Ledger) possess a significant quantity of their software on public repositories. This makes it simple to understand how they implement security measures.
The Ellipal wallet currently supports only a few coins that are supported, such as 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 of this Ellipal wallet is on par with its competitors, but it is important to note that it’s a new product and has not been battle-tested yet. If you compare it to TREZOR or Ledger wallets, which have been on the market longer and have an established track performance in security and reliability, the Ellipal wallet isn’t the best value for money.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a brand new player on the market for hardware wallets that claims to be 100% secure due to its complete isolation from any network or computer. Its creators are relatively new, and it hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with a limited number of coins and the price at $149 is comparable with its competitors. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the person who purchases it.