The cryptocurrency world has witnessed an increase in the number of hardware wallets available on the market, each promising to keep your digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the newest player in the field, and it is aiming to differentiate itself from the crowd by providing an unrivalled solution. In this article, we’ll take a more in-depth review of the Ellipal wallet, its company that makes it and its features to help you decide whether it’s worth investing in.
Hardware wallets are gadget that stores the private key to your digital assets offline to prevent hackers from stealing your data remotely. The Ellipal wallet promises to be 100% secure since it is completely disconnected from any network or computer. This means it is not wired or wireless connectivity and instead, it communicates with QR codes through an image camera at the back of the device. The Ellipal wallet costs $149 and is fairly new to the market, which implies that it has not been battle-tested yet.
Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The website of the company as well as online reviews claim the hardware wallet as 100% secure, however, it’s important to remember that hardware wallets of rival firms such as 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 with a compromised computer that has been infected with viruses your private keys are still safe and safe.
Ellipal’s source code is only partially accessible, and is like Ledger, they have the Github repository which demonstrates their Cross-chain wallet framework aswell in their JS-Lib, which is available to any app developer to work with the framework. As a contrast, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) possess a considerable amount of their code stored in public repositories, which makes it easy to see how they implement security measures.
The Ellipal wallet currently supports the following coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger.
The $149 price tag for the Ellipal wallet is in line with other wallets, however it’s important to keep in mind that it is a relatively new product that has not been tested for battle. If you compare it to TREZOR and Ledger wallets that have been on the market longer and have an established track performance in security and reliability, the Ellipal wallet might not be the most value-for-money budget.
In the end, the Ellipal wallet has been a new player in the market for hardware wallets, promising to be completely secure because of its complete inaccessibility to any computer or network. Its creators are relatively new and the product isn’t battle-tested yet. The Ellipal wallet currently supports a limited number of coins and the price of $149 is on par with the other options. Although the concept of a fully isolated hardware wallet is intriguing however, you should consider the track record and security measures of other wallet options before making a decision. The final decision on whether or not the Ellipal wallet is worth the price is entirely up to the person who purchases it.