The cryptocurrency world has witnessed a rise in the number of hardware wallets that are available, each promising that your digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a new player in this field and will stand out from the crowd by providing a completely isolated solution. In this article, we’ll take you on a close review of the Ellipal wallet as well as the business behind it and the features that it has to offer to help you determine if it’s worth the investment.
A hardware wallet is a gadget that stores the private key of your financial assets offline to prevent hackers from stealing the funds remotely. The Ellipal wallet is 100% secure since it is completely isolated from any computer or network. This means that it does not have wired or wireless connection and instead communicates through QR codes using a camera on the rear of the wallet. The Ellipal wallet costs $149 and is relatively new to the market, which implies it isn’t test-driven yet.
Ellipal The company behind the wallet’s hardware component is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state the hardware wallet as completely safe, however it is important to remember that hardware wallets of competing companies such as TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, the TREZOR is connected TREZOR on a compromised system that is infected with viruses your private keys remain safe and secure.
Ellipal’s source code is only partially available, and, similar to Ledger the company has a Github repository that showcases their Cross-chain wallet framework aswell in their JS-Lib, which is available to developers to develop apps with them. In comparison, both leading hardware wallet manufacturers currently (TREZOR as well as Ledger) have a large amount of their code stored on public repositories, making it simple to understand the security measures they have implemented.
The Ellipal wallet is currently compatible with only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger.
The price of $149 for the Ellipal wallet is in line with other wallets, however it is important to note that it is a relatively new product and has not been tested in battle yet. When compared to the TREZOR as well as Ledger wallets that are available longer and have a long-standing track history of security, the Ellipal wallet might not be the most value-for-money cash.
In conclusion In conclusion, the Ellipal device is an fresh competitor in the market for hardware wallets, promising to be 100% secure due to its complete isolation from any network or computer. Its creators are 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 tag of $149 is on par with its competitors. While the idea of a fully isolated hardware wallet is intriguing, it’s important to consider the track record and security measures of other wallets before making a decision. Ultimately, the decision of whether or not the Ellipal wallet is worth the price is up to the individual.