The cryptocurrency world has witnessed an increase in the number and variety of hardware wallets available on the market all promising to keep your digital assets safe and safe. It is the Ellipal wallet is a new competitor in this space and aims to stand out from the rest by providing a completely isolated solution. In this article, we’ll take a closer review of the Ellipal wallet as well as its company that makes it and the features that it has to offer to help you decide whether it’s worth investing in.
A hardware wallet is a device that keeps the private key to your digital assets offline to prevent hackers from stealing them remotely. The Ellipal wallet claims to be 100% secure since it is completely isolated from any network or computer. This means that it is not wired or wireless connectivity and instead communicates through QR codes using an image camera at the rear of the wallet. The Ellipal wallet is priced at $149. It is relatively new on the market, which implies that it hasn’t been battle-tested yet.
Ellipal, the company behind the hardware wallet, is a relatively new competitor in the market. The company raised $55K via an Indiegogo campaign to help fund its development. The website of the company and its reviews online claim they are 100% safe, however it is important to keep in mind that hardware wallets from rival firms such as TREZOR and Ledger are made in a way that no one outside can view your private key. In the event that, for instance, you connect your TREZOR with a compromised system which is infected by viruses your private keys will remain safe and secured.
Ellipal’s source code remains partially accessible, and is as with Ledger the company has the Github repository which demonstrates their Cross-chain wallet framework aswell the JS-Lib that allows developers to develop apps with them. For comparison, both major hardware wallet makers today (TREZOR and Ledger) are both able to have considerable amount of their code stored on public repositories, making it simple to understand how they go about implementing security measures.
The Ellipal wallet supports only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the amount of coins that its competitors support, TREZOR and Ledger.
The price tag of $149 to purchase Ellipal wallet is a bargain. Ellipal wallet is on par with its competitors, but it is important to note that it is a relatively new product that hasn’t been battle-tested yet. If you compare it to TREZOR or Ledger wallets that are available for longer and have a proven track history of security and reliability, the Ellipal wallet may not be the best value for cash.
In conclusion, it is clear that the Ellipal wallet is a fresh player on the market for hardware wallets that claims to be completely secure because of its complete inaccessibility to any computer or network. The company behind it is relatively new and the product has not been tested in battle yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with its competitors. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the security and track record measures of other hardware wallet options before making a decision. The final decision on whether the Ellipal wallet is worth the cost is up to the individual.