The cryptocurrency world has witnessed an increase in the number and variety of hardware wallets that are available, each promising to keep your digital assets safe and secure. Ellipal is one of them. Ellipal wallet is a new player in this field and will stand out from its competitors by offering a completely isolated solution. In this article, we’ll take you on a close review of the Ellipal wallet and the business behind it, and the features it offers to help you decide whether it’s worth the money.
A hardware wallet is a device 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 because it is completely isolated from any computer or network. This means that it has no wireless or wired connectivity, but instead communicates through QR codes via an image camera at the back of the device. The Ellipal wallet retails for $149 and is relatively new to the market, which means it isn’t test-driven yet.
Ellipal, the company behind the wallet’s hardware is a relatively young company on the market. They raised $55K in the course of an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews state the hardware wallet as 100% safe, however it is important to remember that hardware wallets of competing businesses 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 example, even if you connect your TREZOR on a compromised device which is infected by viruses your private keys remain safe and safe.
Ellipal’s source code is only partially available, and, similar to Ledger and Ledger, they have an 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. In comparison, both leading hardware wallet manufacturers today (TREZOR as well as Ledger) are both able to have large amount of their code stored on public repositories. This makes it easy to observe how they implement security measures.
The Ellipal wallet supports a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is fewer than the amount of coins that its competitors support, TREZOR and Ledger.
The $149 price tag to purchase the Ellipal wallet is in line with its competitors, but it is important to note that it is a relatively new product that hasn’t been tested for battle. In comparison to TREZOR as well as Ledger wallets that are on the market for longer and have a proven track performance in security The Ellipal wallet isn’t the most value-for-money money.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player in the hardware wallet market that claims that it is 100% 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 supports only a few coins and the price at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a choice. The final decision on whether or not the Ellipal product is worthy of the cost is up to the individual.