The cryptocurrency world has witnessed an increase in the number of hardware wallets on the market, each promising that your digital assets will be safe and secure. Ellipal is one of them. Ellipal wallet is a brand new player in this field It is aiming to differentiate itself from the rest by providing a completely isolated solution. In this article, we’ll take you on a more in-depth review of the Ellipal wallet, its company that makes it, and the features it offers to help you determine whether it’s worth investing in.
A hardware wallet is a gadget that keeps the private key for your personal digital accounts offline, preventing hackers from stealing your data remotely. The Ellipal wallet is 100% secure since it is completely isolated from any computer or network. It does not have wired or wireless connectivity and instead, it communicates with QR codes using cameras on the back of the device. The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it has not been tested in battle yet.
Ellipal The company behind the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance research and development for their products. The company’s website and reviews online claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets of rival companies such as TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For instance, even if you connect your TREZOR to a compromised computer that is infected with viruses Your private keys remain safe and secure.
Ellipal’s source code remains partially available, and, like Ledger and Ledger, they have an Github repository available that shows their Cross-chain wallet framework aswell in their JS-Lib, which is available to developers to develop apps with the framework. As a contrast, both of the leading hardware wallet makers currently (TREZOR as well as Ledger) possess a significant quantity of their software on public repositories. This makes it simple to understand the security measures they have implemented.
The Ellipal wallet currently supports the following coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger.
The price of $149 of this Ellipal wallet is comparable with the other wallets on the market, but it’s important to remember that it is a relatively new product and has not been tested for battle. When compared to the TREZOR as well as Ledger wallets that are available longer and have a proven track history of security and reliability, the Ellipal wallet might not be the best value for money.
In the end In conclusion, the Ellipal wallet has been a new competitor in the hardware wallet market and promises to be 100% secure due to its complete isolation from any network or computer. Its creators are relatively new, and the product isn’t battle-tested yet. The Ellipal wallet is currently compatible with the use of a small number of coins and its price of $149 is on par with the other options. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the track record and security measures of other wallets prior to making a decision. Ultimately, the decision of whether the Ellipal product is worthy of the cost is up to the individual.