The world of cryptocurrency has seen a rise in the number and variety of hardware wallets on the market all promising to keep your digital assets safe and secure. The Ellipal wallet is a brand new player in the field, and it aims to stand out from the crowd by providing an entirely separate solution. In this article, we’ll take you on a closer look at the Ellipal wallet as well as its company that makes it, and the features it offers to help you decide whether it’s worth the money.
Hardware wallets are gadget that keeps the private key to your digital assets off-line, preventing hackers from stealing the funds remotely. The Ellipal wallet claims to be 100% secure as it is completely disconnected from any computer or network. It is not wired or wireless connection and instead, it communicates with QR codes using cameras on the back of the device. The Ellipal wallet retails for $149 and is fairly new to the market, meaning it isn’t tested in battle yet.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The company’s website and online reviews state the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival companies such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private key. In the event that, for instance, you connect your TREZOR to a compromised device which is infected by viruses Your private keys will remain safe and secured.
Ellipal’s source code is only partially accessible, and is as with Ledger the company has a Github repository that showcases their Cross-chain wallet framework as well in their JS-Lib, which is available to developers to develop apps with them. As a contrast, both of the leading hardware wallet manufacturers currently (TREZOR and Ledger) are both able to have considerable amount of their code in public repositories, which makes it simple to understand the security measures they have implemented.
The Ellipal wallet currently supports the following coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is lower than the number of coins that its competitors support, TREZOR and Ledger.
The price tag of $149 of the Ellipal wallet is comparable with other wallets, however it’s important to remember that it’s a new product that hasn’t been tested for battle. When compared to the TREZOR as well as Ledger wallets that are on the market longer and have a long-standing track performance in security The Ellipal wallet might not be the best value for your money.
In conclusion In conclusion, it is clear that the Ellipal wallet has been a fresh player on the hardware wallet market that claims that it is 100% secure due to its complete inaccessibility to any network or computer. The company behind it is new, and the product isn’t test-driven yet. The Ellipal wallet supports only a few coins and its price at $149 is comparable with its competitors. While the idea of a fully separated hardware wallet sounds appealing however, you should consider the track record and security features of other hardware wallet options before making a decision. The final decision on whether or not the Ellipal wallet is worth the cost is entirely up to the person who purchases it.