The cryptocurrency market has seen an increase in the number of physical wallets available on the market, each promising that your digital assets will be safe and secure. It is the Ellipal wallet is the newest competitor in this space It aims to stand out from the crowd by providing an unrivalled solution. In this article, we’ll take you on a close look at the Ellipal wallet as well as the company behind it, and the features that it has to offer to help you decide whether it’s worth the money.
Hardware wallets are device that keeps the private key of your financial assets off-line and prevents hackers from taking them remotely. The Ellipal wallet claims to be 100% secure since it is completely isolated from any computer or network. It is not wired or wireless connectivity and instead communicates via QR codes via cameras on the rear end. The Ellipal wallet costs $149 and is fairly new to the market, which means that it has not been tested in battle yet.
Ellipal, the company behind the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The company’s website and online reviews state that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets from rival businesses like TREZOR as well as Ledger are made in a way that no outside attacker can view your private key. For instance, even if it is possible to connect your TREZOR with a compromised system that is infected with viruses your private keys will remain safe and safe.
Ellipal’s source code is partially open, and as with Ledger and Ledger, they have an Github repository which demonstrates their Cross-chain wallet platform as well in their JS-Lib, which is available to developers to develop apps with them. For comparison, both major hardware wallet makers currently (TREZOR and Ledger) possess a significant amount of their code on public repositories. This makes it easy to observe how they implement security measures.
The Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger.
The price of $149 of this Ellipal wallet is comparable with the other wallets on the market, but it is important to note that it is a relatively new product that hasn’t been battle-tested yet. When compared to the TREZOR or Ledger wallets that are on the market longer and have a proven track history of security and reliability, the Ellipal wallet may not be the best value for money.
In conclusion, the Ellipal wallet is a brand new player in the hardware wallet market that claims to be 100% secure because of its complete separation from any computer or network. Ellipal is a company that’s new and it hasn’t been test-driven yet. The Ellipal wallet is currently compatible with only a few coins and the price of $149 is in line with other wallets. While the idea of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallet options before making a decision. The final decision on whether or not the Ellipal device is worthwhile for the cost is entirely up to the person who purchases it.