The world of cryptocurrency has seen an increase in the number and variety 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 and will stand out from its competitors by offering a completely isolated solution. In this article, we’ll take you on a closer review of the Ellipal wallet as well as the business behind it, and its features to help you decide 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 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 it is not wireless or wired connectivity, but instead, it communicates with QR codes through a camera on the back of the device. The Ellipal wallet costs $149 and is fairly new to the market, which means that it hasn’t been tested in battle yet.
Ellipal, the company that developed the wallet’s hardware component is a relatively new competitor in 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 online reviews state that their hardware wallet is 100% secure, however, it’s important to note that the hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no one outside can view your private key. For instance, even if you connect your TREZOR to a compromised device which is infected by viruses Your private keys remain safe and secure.
Ellipal’s source code is only partially open, and as with Ledger, they have an Github repository that showcases their Cross-chain wallet framework aswell in their JS-Lib, which is available to any app developer to work with their framework. In comparison, both leading hardware wallet companies currently (TREZOR and Ledger) have a significant amount of their code on public repositories. This makes it simple to understand how they implement security measures.
The Ellipal wallet supports the following coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the amount of coins supported by its competitors, TREZOR and Ledger.
The $149 price tag for Ellipal wallet is a bargain. Ellipal wallet is in line with the other wallets on the market, but it’s important to keep in mind that it’s a new product that hasn’t been tested in battle yet. In comparison to TREZOR or Ledger wallets, which have been on the market longer and have a long-standing track history of security, the Ellipal wallet isn’t the most value-for-money cash.
In conclusion it is clear that the Ellipal wallet is a new player on the market for hardware wallets that claims to be completely secure due to its complete isolation from any network or computer. Ellipal is a company that’s relatively new, and the product isn’t test-driven yet. The Ellipal wallet is currently compatible with a limited number of coins, and its price tag of $149 is on par with other wallets. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security measures of other hardware wallets before making a decision. Ultimately, the decision of whether the Ellipal product is worthy of the cost is entirely up to the user.