The cryptocurrency market has seen a rise in the number and variety of hardware wallets on the market, each promising to keep your digital assets safe and secure. It is the Ellipal wallet is the newest player in this field, and it will stand out from the crowd by providing 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 that it has to offer to help you decide if it’s worth the investment.
The hardware wallet can be described as a gadget which keeps the private keys for your personal digital accounts off-line to prevent hackers from stealing them remotely. The Ellipal wallet is 100% secure since it is completely isolated from any computer or network. This means that it has no wired or wireless connection and instead, it communicates with QR codes through a camera on the rear end. The Ellipal wallet is priced at $149. It is relatively new to the market, which means it isn’t test-driven yet.
Ellipal, the company behind the wallet’s hardware component is a relatively new player in the market. It raised $55K through the course of an Indiegogo campaign to fund its development. The company’s website and online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets of competing companies such as TREZOR as well as Ledger are also designed in a way that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system that has been infected with viruses, your private keys remain safe and secure.
Ellipal’s source code is only partially available, and, like Ledger the company has the Github repository available that shows their Cross-chain wallet platform as well in their JS-Lib, which is available to any App developer to work with their framework. In comparison, both leading hardware wallet makers currently (TREZOR and Ledger) possess a significant amount of their code on public repositories. This makes it easy to observe how they go about implementing security measures.
The Ellipal wallet supports only a few coins which include Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is less than the amount of coins supported by its competitors, TREZOR and Ledger.
The price tag of $149 to purchase the Ellipal wallet is in line with other wallets, however it’s important to keep in mind that it is a relatively new product and has not been tested for battle. In comparison to TREZOR as well as Ledger wallets, which have been on the market longer and have a proven track history of security The Ellipal wallet might not be the best value for your money.
In conclusion it is clear that the Ellipal wallet has been a brand new competitor in the market for hardware wallets and promises that it is 100% secure due to its complete separation from any computer or network. Ellipal is a company that’s relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports a limited number of coins, and its price tag of $149 is in line with its competitors. While the idea of a fully separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallets before making a choice. Ultimately, the decision of whether or not the Ellipal wallet is worth the cost is up to the individual.