The cryptocurrency market has seen an increase in the number and variety of hardware wallets available on the market, each promising that your digital assets will be safe and secure. It is the Ellipal wallet is a brand new player in this field and aims to stand out from its competitors by offering an unrivalled solution. In this article, we’ll take a more in-depth look at 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 to your digital assets off-line and prevents hackers from taking the funds remotely. The Ellipal wallet is 100% secure since it is completely isolated from any network or computer. This means it has no wired or wireless connectivity and instead communicates via QR codes using an image camera at the rear end. The Ellipal wallet costs $149 and is fairly new to the market, which implies it isn’t tested in battle yet.
Ellipal, the company that developed the wallet’s hardware is a relatively young player in the market. The company raised $55K via the course of 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% secure, however, it’s important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if you connect your TREZOR to a compromised computer that has been infected with viruses, your private keys are still safe and secure.
Ellipal’s source code remains partially available, and, as with Ledger and Ledger, they have a Github repository which demonstrates their Cross-chain wallet framework as well the JS-Lib that allows any app developer to work with their framework. For comparison, both major hardware wallet makers today (TREZOR and Ledger) are both able to have large 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 that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 for the Ellipal wallet is in line with other wallets, however it is important to note that it is a relatively new product and has not been tested for battle. In comparison to TREZOR and Ledger wallets, which are available for longer and have a proven track performance in security The Ellipal wallet isn’t the most value-for-money cash.
In conclusion it is clear that the Ellipal wallet is a brand new player in the hardware wallet market that claims that it is 100% secure due to its complete inaccessibility to any computer or network. Ellipal is a company that’s relatively new, and it hasn’t been battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price of $149 is on par with its competitors. While the idea of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets before making a decision. In the end, the decision on whether or not the Ellipal product is worthy of the price is up to the individual.