The world of cryptocurrency has seen an increase in the number and variety of hardware wallets available on the market, each promising to keep your digital assets safe and secure. It is the Ellipal wallet is a brand new player in this field, and it will stand out from the crowd by providing a completely isolated solution. In this article, we’ll take a closer review of the Ellipal wallet and its company that makes it and the features it offers to help you decide whether it’s worth the money.
A hardware wallet is a gadget that keeps the private key of your financial assets offline, preventing hackers from stealing your data remotely. The Ellipal wallet is 100% secure because it is completely disconnected from any network or computer. This means it is not wired or wireless connection and instead communicates via QR codes using a camera on the back of the device. The Ellipal wallet costs $149 and is relatively new to the market, which implies it isn’t tested in battle yet.
Ellipal, the company that developed the wallet’s hardware is a relatively young company on the market. It raised $55K through an Indiegogo campaign to finance research and development for their products. The website of the company as well as online reviews claim that their hardware wallet is 100% secure, but it’s important to remember that hardware wallets from rival firms such as TREZOR as well as Ledger are also designed in a way that no outside attacker can view your private key. For example, even if you connect your TREZOR to a compromised device which is infected by viruses Your private keys will remain safe and secure.
Ellipal’s source code remains partially accessible, and is like Ledger the company has 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 amount of their code on public repositories, making it easy to observe the security measures they have implemented.
The Ellipal wallet currently supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The $149 price tag for the Ellipal wallet is comparable with its competitors, but it’s important to keep in mind that it’s a new product that hasn’t been tested for battle. In comparison to TREZOR and Ledger wallets that are on the market longer and have a proven track performance in security, the Ellipal wallet might not be the best value for budget.
In the end In conclusion, Ellipal wallet is a good choice. Ellipal wallet has been a fresh player in the market for hardware wallets that claims to be completely secure because of its complete inaccessibility to any network or computer. The company behind it is new and it hasn’t been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with the other options. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other hardware wallets prior to making a decision. Ultimately, the decision of whether the Ellipal device is worthwhile for the cost is entirely up to the user.