The world of cryptocurrency 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 secure. The Ellipal wallet is a new player in this field It aims to stand out from its competitors by offering an entirely separate solution. In this post, we’ll look at a close review of the Ellipal wallet as well as the company behind it, and the features it offers to help you decide whether it’s worth investing in.
Hardware wallets are gadget which keeps the private keys of your financial assets offline and prevents hackers from taking the funds remotely. The Ellipal wallet promises to be 100% secure since it is completely disconnected from any network or computer. This means that it is not wireless or wired connectivity, but instead communicates via QR codes using cameras on the rear of the wallet. The Ellipal wallet retails for $149 and is relatively new on the market, which means that it hasn’t been battle-tested yet.
Ellipal The company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund the development of their product. The website of the company as well as online reviews state they are completely safe, however it is important to remember that hardware wallets of rival companies like TREZOR as well as Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, you connect your TREZOR to a compromised system that has been infected with viruses, your private keys will remain safe and secured.
Ellipal’s source code is only partially accessible, and is similar to Ledger and Ledger, they have the Github repository which demonstrates their Cross-chain wallet framework aswell the JS-Lib that allows any App developer to work with the framework. As a contrast, both of the leading hardware wallet companies currently (TREZOR as well as Ledger) are both able to have significant amount of their code stored in public repositories, which makes it easy to observe how they implement security measures.
The Ellipal wallet is currently compatible with the following coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is lower than the number of coins that are supported by its rivals, TREZOR and Ledger.
The price of $149 to purchase this Ellipal wallet is on par with its competitors, but it’s important to remember that it’s a new product that 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 history of security and reliability, the Ellipal wallet may not be the best value for money.
In conclusion it is clear that the Ellipal wallet is a new player on the market for hardware wallets and promises to be completely secure because of its complete isolation from any computer or network. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet currently supports the use of a small number of coins and the price at $149 is comparable with the other options. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal product is worthy of the cost is entirely up to the user.