The world of cryptocurrency has seen a rise in the number and variety of hardware wallets that are available all promising that your digital assets will be safe and secure. It is the Ellipal wallet is a new competitor in this space and aims to stand out from the crowd by providing an unrivalled solution. In this post, we’ll look at a closer review of the Ellipal wallet, the business behind it, and the features that it has to offer to help you decide whether it’s worth the money.
The hardware wallet can be described as a gadget which keeps the private keys of your financial assets offline, preventing hackers from stealing them remotely. The Ellipal wallet is 100% secure as it is completely unconnected to any network or computer. This means that it has no wired or wireless connectivity and instead, it communicates with QR codes via a camera on the back of the device. The Ellipal wallet costs $149 and is relatively new to the market, which means that it has not been tested in battle yet.
Ellipal, the company that developed the wallet’s hardware component is a relatively young competitor in the market. It raised $55K through the course of an Indiegogo campaign to help fund its development. The company’s website and online reviews state they are 100% safe, however it is important to keep in mind that hardware wallets of competing businesses like TREZOR as well as Ledger are also designed in a way that no one outside can see your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised computer that has been infected with viruses Your private keys are still safe and safe.
Ellipal’s source code is partially open, and like Ledger, they have a Github repository which demonstrates their Cross-chain wallet framework aswell as their JS-Lib for any app developer to work with them. In comparison, both leading hardware wallet makers today (TREZOR as well as Ledger) possess a considerable quantity of their software in public repositories, which makes it easy to see the security measures they have implemented.
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 $149 price tag of this Ellipal wallet is on par with the other wallets on the market, but it’s important to remember that it is a relatively new product that has not been tested for battle. In comparison to TREZOR and Ledger wallets that are available longer and have an established track history of security and reliability, the Ellipal wallet might not be the best value for your budget.
In the end, the Ellipal device is an new player on the market for hardware wallets that claims to be completely safe due to its total inaccessibility to any computer or network. Its creators are relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is in line with other wallets. Although the concept of a completely separated hardware wallet sounds appealing but it’s crucial to look at the history and security measures of other wallets prior to making a choice. Ultimately, the decision of whether the Ellipal device is worthwhile for the cost is up to the individual.