The world of cryptocurrency 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 safe. It is the Ellipal wallet is the newest competitor in this space, and it is aiming to differentiate itself from the rest by providing a completely isolated solution. In this article, we’ll take you on a close look at the Ellipal wallet, its company that makes it and the features that it has to offer to help you decide if it’s worth the investment.
Hardware wallets are device that stores the private key for your personal digital accounts indefinitely, preventing hackers from stealing them remotely. The Ellipal wallet is 100% secure because it is completely isolated from any network or computer. It is not wired or wireless connectivity and instead communicates through QR codes through a camera on the rear end. The Ellipal wallet is priced at $149. It is fairly new to the market, which means that it hasn’t been test-driven yet.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. The company raised $55K via an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews claim that their hardware wallet is 100% safe, however it is important to note that the hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no attacker from outside is able to see your private key. For instance, even if you connect your TREZOR on a compromised computer which is infected by viruses, your private keys remain safe and secure.
Ellipal’s source code is only partially accessible, and is as with Ledger, they have a Github repository available that shows their Cross-chain wallet platform as well as their JS-Lib for any app developer to work with the framework. As a contrast, both of the leading hardware wallet companies currently (TREZOR and Ledger) have a significant amount of their code stored on public repositories, making it easy to observe the security measures they have implemented.
The Ellipal wallet currently supports the following coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 of Ellipal wallet is a bargain. Ellipal wallet is comparable with its competitors, but it is important to note that it is a relatively new product and has not been tested for battle. When compared to the TREZOR or Ledger wallets that are available for longer and have an established track record of security and reliability, the Ellipal wallet might not be the best value for your budget.
In the end it is clear that the Ellipal device is an brand new player in the market for hardware wallets, promising to be completely secure due to its complete isolation from any network or computer. The company behind it is 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 the other options. While the idea of a totally separated hardware wallet sounds appealing, it’s important to consider the security and track record features of other hardware wallet options before making a choice. In the end, the decision on whether or not the Ellipal wallet is worth the price is entirely up to the user.