The world of cryptocurrency has seen a rise in the number and variety of hardware wallets available on the market, each promising to keep your digital assets safe and safe. The Ellipal wallet is a new player in this field, and it aims to stand out from the rest by providing an entirely separate solution. In this article, we’ll take you on a close review of the Ellipal wallet as well as the company behind it, and the features that it has to offer to help you determine whether it’s worth investing in.
The hardware wallet can be described as a device that stores the private key for your personal digital accounts offline and prevents hackers from taking them remotely. The Ellipal wallet claims to be 100% secure because it is completely unconnected to any network or computer. It is not wireless or wired connectivity, but instead, it communicates with QR codes through a camera on the rear end. The Ellipal wallet is priced at $149. It is fairly new to the market, meaning it isn’t tested in battle yet.
Ellipal, the company that developed the hardware wallet, is a relatively new company on the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state that their hardware wallet is 100% safe, however it is important to remember that hardware wallets of competing companies 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 it is possible to connect your TREZOR to a compromised system which is infected by viruses, your private keys remain safe and secure.
Ellipal’s source code is partially available, and, like Ledger, they have the Github repository that showcases their Cross-chain wallet framework as well the JS-Lib that allows 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 significant quantity of their software on public repositories, making it easy to observe the security measures they have implemented.
The Ellipal wallet is currently compatible with a limited number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is lower than the coins that its competitors support, TREZOR and Ledger.
The price tag of $149 of the Ellipal wallet is comparable with the other wallets on the market, 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 on the market for longer and have an established track performance in security, the Ellipal wallet might not be the most value-for-money budget.
In the end, Ellipal wallet is a good choice. Ellipal wallet is a new player in the hardware wallet market, promising to be completely secure due to its complete separation from any network or computer. Its creators are new, and the product isn’t tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price at $149 is comparable with other wallets. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthy of the price is entirely up to the person who purchases it.