The world of cryptocurrency has seen a rise in the number and variety of hardware wallets on the market all promising to keep your digital assets safe and secure. It is the Ellipal wallet is a brand new competitor in this space, and it is aiming to differentiate itself from the rest by providing a completely isolated solution. In this article, we’ll take a close review of the Ellipal wallet and the company behind it, and the features it offers to help you determine whether it’s worth the money.
The hardware wallet can be described as a gadget that keeps the private key to your digital assets off-line and prevents hackers from taking the funds remotely. The Ellipal wallet promises to be 100% secure as it is completely disconnected from any network or computer. This means it has no wired or wireless connection and instead communicates via QR codes through cameras on the back of the device. The Ellipal wallet costs $149 and is fairly new to the market, which implies that it hasn’t been test-driven yet.
Ellipal, the company behind the hardware wallet, is a relatively new player in the market. They raised $55K in the course of an Indiegogo campaign to help fund its development. The website of the company and its online reviews state the hardware wallet as 100% secure, but it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no one outside can view your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised system that has been infected with viruses your private keys are still safe and safe.
Ellipal’s source code is only partially accessible, and is similar to Ledger the company has a Github repository that showcases their Cross-chain wallet platform as well in their JS-Lib, which is available to developers to develop apps with them. As a contrast, both of the leading hardware wallet makers today (TREZOR as well as Ledger) have a significant amount of their code on public repositories, making it simple to understand how they implement security measures.
The Ellipal wallet currently supports only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 for this Ellipal wallet is in line with other wallets, however it’s important to remember that it’s a new product that hasn’t been tested in battle yet. When compared to the TREZOR and Ledger wallets, which are available longer and have a long-standing track performance in security and reliability, the Ellipal wallet might not be the most value-for-money money.
In the end, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the market for hardware wallets, promising that it is 100% secure because of its complete separation from any network or computer. Its creators are new and the product isn’t test-driven yet. The Ellipal wallet is currently compatible with the use of a small number of coins, and its price tag at $149 is comparable with the other options. Although the concept of a completely isolated hardware wallet is intriguing but it’s crucial to look at the track record and security measures of other wallets before making a choice. The final decision on whether the Ellipal device is worthwhile for the cost is up to the individual.