The world of cryptocurrency has seen a rise in the number of hardware wallets that are available, each promising that your digital assets will be safe and secure. The Ellipal wallet is a brand new player in the field It is aiming to differentiate itself from its competitors by offering a completely isolated solution. In this post, we’ll look at a close review of the Ellipal wallet as well as its company that makes it and the features it offers to help you decide if it’s worth the investment.
The hardware wallet can be described as a gadget that keeps the private key of your financial assets indefinitely, preventing hackers from stealing them remotely. The Ellipal wallet claims to be 100% secure as it is completely unconnected to any network or computer. This means it has no wired or wireless connection and instead communicates via QR codes using a camera on the rear of the wallet. The Ellipal wallet is priced at $149. It is fairly new to the market, which implies that it has not been test-driven yet.
Ellipal The company behind the wallet’s hardware component, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to help fund research and development for their products. The website of the company and its online reviews claim the hardware wallet as completely secure, but it’s important to keep in mind that hardware wallets from rival businesses such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For example, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses, your private keys will remain safe and secured.
Ellipal’s source code remains partially available, and, similar to Ledger, they have an Github repository which demonstrates 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) have a large amount of their code on public repositories. This makes it easy to see how they implement security measures.
The Ellipal wallet is currently compatible with a limited number of coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins that its competitors support, TREZOR and Ledger.
The price of $149 for the Ellipal wallet is on par with the other wallets on the market, but it is important to note that it’s a new product that hasn’t been tested for battle. When compared to the TREZOR and Ledger wallets, which are available for longer and have a long-standing track history of security and reliability, the Ellipal wallet isn’t the best value for your money.
In conclusion In conclusion, the Ellipal wallet is a brand new player in the market for hardware wallets, promising to be completely safe due to its total inaccessibility to any computer or network. Its creators are relatively new and the product isn’t battle-tested yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with its competitors. Although the concept of a totally exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other wallets before making a decision. The final decision on whether the Ellipal device is worthwhile for the cost is entirely up to the user.