The cryptocurrency market has seen a rise in the number and variety of hardware wallets that are available, each promising to keep your digital assets safe and safe. Ellipal is one of them. Ellipal wallet is a brand new player in the field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. In this post, we’ll look at a closer review of the Ellipal wallet, the business behind it, and the features it offers to help you decide whether it’s worth investing in.
A hardware wallet is a device that keeps the private key of your financial assets off-line, preventing hackers from stealing the funds remotely. The Ellipal wallet claims to be 100% secure since it is completely isolated from any network or computer. This means that it does not have wireless or wired connectivity, but instead, it communicates with QR codes via a camera on the rear of the wallet. 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 hardware wallet is a relatively young company on the market. It raised $55K through an Indiegogo campaign to fund research and development for their products. The website of the company as well as online reviews claim that their hardware wallet is completely 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 outside attacker can access your private keys. For instance, even if it is possible to connect your TREZOR to a compromised computer that has been infected with viruses your private keys will remain safe and secured.
Ellipal’s source code is partially accessible, and is as with Ledger the company has the Github repository available that shows their Cross-chain wallet platform as well 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) have a significant quantity of their software on public repositories, making it easy to observe how they implement security measures.
The Ellipal wallet supports only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is lower than the amount of coins that its competitors support, TREZOR and Ledger.
The price of $149 for this Ellipal wallet is comparable with its competitors, but it’s important to keep in mind that it is a relatively new product that has not been tested in battle yet. In comparison to TREZOR and Ledger wallets that are available longer and have a long-standing track record of security and reliability, the Ellipal wallet isn’t the most value-for-money money.
In conclusion, the Ellipal wallet has been a fresh competitor in the hardware wallet market, promising to be completely safe due to its total inaccessibility to any network or computer. Ellipal is a company that’s new, and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price of $149 is on par with its competitors. While the idea of a completely isolated hardware wallet is intriguing, it’s important to consider the track record and security features of other hardware wallet options before making a decision. The final decision on whether or not the Ellipal wallet is worth the price is up to the individual.