The world of cryptocurrency has seen an increase in the number of hardware wallets that are available, each promising to keep your digital assets safe and secure. The Ellipal wallet is a new player in the field and will stand out from the rest by providing an entirely separate solution. In this post, we’ll look at a close look at the Ellipal wallet, its company that makes it, and its features to help you determine if it’s worth the investment.
Hardware wallets are device which keeps the private keys of your financial assets off-line to prevent hackers from stealing them remotely. The Ellipal wallet promises to be 100% secure since it is completely disconnected from any network or computer. This means that it does not have wired or wireless connection and instead, it communicates with QR codes via an image camera at the rear of the wallet. The Ellipal wallet is priced at $149. It is relatively new on the market, meaning that it hasn’t been battle-tested yet.
Ellipal, the company behind the wallet’s hardware component is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to finance research and development for their products. The website of the company and its online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from rival businesses such as TREZOR and Ledger are made in a way that no one outside can see your private key. For example, even if you connect your TREZOR with a compromised device that is infected with viruses your private keys remain safe and safe.
Ellipal’s source code remains partially open, and like Ledger, they have an Github repository which demonstrates their Cross-chain wallet platform as well the JS-Lib that allows any app developer to work with their framework. For comparison, both major hardware wallet makers currently (TREZOR as well as Ledger) are both able to have large amount of their code stored on public repositories, making it simple to understand how they go about implementing security measures.
The Ellipal wallet is currently compatible with only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the number of coins that are supported by its rivals, TREZOR and Ledger.
The $149 price tag of the Ellipal wallet is comparable with other wallets, however it’s important to remember that it’s a new product that has not been tested in battle yet. In comparison to TREZOR or Ledger wallets that are available longer and have a proven track performance in security and reliability, the Ellipal wallet isn’t the most value-for-money money.
In conclusion, the Ellipal device is an fresh player in the market for hardware wallets, promising to be completely safe due to its total isolation from any network or computer. Its creators are new and the product has not been tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with the other options. Although the concept of a fully exclusive hardware wallet is appealing, it’s important to consider the security and track record features of other hardware wallets before making a decision. Ultimately, the decision of whether or not the Ellipal device is worthwhile for the cost is entirely up to the person who purchases it.