The world of cryptocurrency has seen an increase in the number of hardware wallets on the market, each promising that your digital assets will be safe and secure. The Ellipal wallet is the newest player in the field, and it aims to stand out from the rest by providing an entirely separate solution. In this post, we’ll look at a close review of the Ellipal wallet and the business behind it and the features that it has to offer to help you decide whether it’s worth investing in.
Hardware wallets are gadget which keeps the private keys 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 network or computer. This means that it does not have wireless or wired connectivity, but instead, it communicates with QR codes using cameras on the rear end. The Ellipal wallet retails for $149 and is relatively new on the market, meaning it isn’t tested in battle yet.
Ellipal, the company that developed the wallet’s hardware component, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund the development of their product. The website of the company and its online reviews claim the hardware wallet as 100% secure, however, it’s important to note that the hardware wallets from rival firms like TREZOR as well as Ledger are made in a way that no outside attacker can access your private keys. For example, even if you connect your TREZOR with a compromised device that has been infected with viruses your private keys remain safe and secure.
Ellipal’s source code remains partially available, and, similar to Ledger, they have an Github repository available that shows their Cross-chain wallet framework as well as their JS-Lib for any app developer to work with the framework. For comparison, both major hardware wallet companies currently (TREZOR and Ledger) have a significant amount of their code on public repositories, making it simple to understand how they go about implementing security measures.
The Ellipal wallet currently supports the following coins which include Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the coins that are supported by its rivals, TREZOR and Ledger.
The $149 price tag for the Ellipal wallet is in line with the other wallets on the market, but it’s important to keep in mind that it is a relatively new product that has not been tested for battle. If you compare it to TREZOR and Ledger wallets that have been on the market for longer and have a long-standing track performance in security The Ellipal wallet might not be the best value for your budget.
In conclusion In conclusion, the Ellipal wallet is a fresh player in the market for hardware wallets, promising that it is 100% secure because of 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 supports the use of a small number of coins and the price of $149 is in line with other wallets. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the history and security features of other hardware wallets prior to making a decision. In the end, the decision on whether the Ellipal product is worthy of the cost is entirely up to the user.