The cryptocurrency world has witnessed a rise in the number of hardware wallets that are available all promising that your digital assets will be safe and secure. The Ellipal wallet is a brand new competitor in this space, and it aims to stand out from its competitors by offering a completely isolated solution. In this post, we’ll look at a closer look at the Ellipal wallet, the company behind it and the features that it has to offer to help you determine if it’s worth the investment.
A hardware wallet is a gadget which keeps the private keys to your digital assets offline and prevents hackers from taking the funds remotely. The Ellipal wallet is 100% secure because it is completely disconnected from any computer or network. It is not wireless or wired connectivity, but instead communicates through QR codes through an image camera at the back of the device. The Ellipal wallet costs $149 and is relatively new to the market, which means that it hasn’t been tested in battle 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 finance its development. The company’s website and online reviews claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR on a compromised system which is infected by viruses your private keys are still safe and secure.
Ellipal’s source code is partially accessible, and is similar to Ledger and Ledger, they have an Github repository that showcases their Cross-chain wallet framework aswell in their JS-Lib, which is available to any App developer to work with them. As a contrast, both of the leading hardware wallet companies currently (TREZOR and Ledger) possess a considerable quantity of their software in public repositories, which makes it easy to observe the security measures they have implemented.
The Ellipal wallet supports only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is lower than the number of coins that its competitors support, TREZOR and Ledger.
The $149 price tag of Ellipal wallet is a bargain. Ellipal wallet is on par with other wallets, however it is important to note that it is a relatively new product and has not been battle-tested yet. If you compare it to TREZOR or Ledger wallets that are on the market for longer and have a long-standing track performance in security and reliability, the Ellipal wallet might not be the best value for money.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh competitor in the hardware wallet market and promises to be 100% secure because of its complete inaccessibility to any computer or network. Its creators are relatively new and the product isn’t test-driven yet. The Ellipal wallet supports a limited number of coins and its price of $149 is on par with the other options. While the idea of a totally isolated hardware wallet is intriguing but it’s crucial to look at the history and security features of other hardware wallets prior to making a choice. Ultimately, the decision of whether or not the Ellipal product is worthy of the cost is entirely up to the person who purchases it.