The cryptocurrency world has witnessed an increase in the number and variety of hardware wallets available on the market that promise to keep your digital assets safe and secure. The Ellipal wallet is a brand new competitor in this space and is aiming to differentiate itself from the rest by providing a completely isolated solution. In this post, we’ll look at a more in-depth review of the Ellipal wallet, the business behind it, and the features it offers to help you determine whether it’s worth the money.
The hardware wallet can be described as a gadget that keeps the private key for your personal digital accounts offline, preventing hackers from stealing your data remotely. The Ellipal wallet claims to be 100% secure since it is completely isolated from any computer or network. It has no wired or wireless connectivity and instead communicates through QR codes through cameras on the back of the device. The Ellipal wallet retails for $149 and is relatively new to the market, which means that it hasn’t been tested in battle yet.
Ellipal, the company that developed the hardware wallet is a relatively young company on the market. It raised $55K through the course of an Indiegogo campaign to help fund the development of their product. The website of the company as well as reviews online claim they are completely secure, but it’s important to keep in mind that hardware wallets of rival firms such as TREZOR as well as Ledger are made in a way that no attacker from outside is able to see your private key. For instance, even if you connect your TREZOR on a compromised device that is infected with viruses, your private keys will remain safe and safe.
Ellipal’s source code remains partially open, and like Ledger and Ledger, they have a Github repository that showcases their Cross-chain wallet platform as well as their JS-Lib for any app developer to work with their framework. In comparison, both leading hardware wallet manufacturers currently (TREZOR and Ledger) possess a considerable amount of their code stored on public repositories, making it simple to understand how they go about implementing security measures.
The Ellipal wallet is currently compatible with the following coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is less than the amount of coins that its competitors support, TREZOR and Ledger.
The price tag of $149 to purchase Ellipal wallet is a bargain. Ellipal wallet is on par with the other wallets on the market, but it is important to note that it is a relatively new product that hasn’t been tested in battle yet. If you compare it to TREZOR as well as Ledger wallets, which are on the market for longer and have a long-standing track history of security, the Ellipal wallet might not be the best value for your cash.
In the end In conclusion, it is clear that the Ellipal wallet has been a brand new player on the hardware wallet market that claims to be 100% secure due to its complete separation from any computer or network. Its creators are new and the product has not been battle-tested yet. The Ellipal wallet currently supports only a few coins and its price of $149 is in line with the other options. While the idea of a fully exclusive hardware wallet is appealing but it’s crucial to look at the history and security measures of other wallet options before making a choice. The final decision on whether or not the Ellipal product is worthy of the price is entirely up to the user.