The cryptocurrency world has witnessed an increase in the number of physical wallets on the market that promise that your digital assets will be safe and safe. The Ellipal wallet is the newest competitor in this space, and it aims to stand out from the rest by providing an unrivalled solution. In this post, we’ll look at a close review of the Ellipal wallet as well as its company that makes it, and the features it offers to help you determine if it’s worth the investment.
The hardware wallet can be described as a gadget that stores the private key for your personal digital accounts offline and prevents hackers from taking the funds remotely. The Ellipal wallet claims to be 100% secure since it is completely disconnected from any network or computer. This means it has no wired or wireless connectivity and instead, it communicates with QR codes through a camera on the rear of the wallet. The Ellipal wallet retails for $149 and is fairly new to the market, which implies it isn’t battle-tested yet.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. It raised $55K through an Indiegogo campaign to help fund its development. The website of the company and its online reviews state they are 100% secure, but it’s important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no outside attacker can access your private keys. For instance, even if you connect your TREZOR to a compromised computer that has been infected with viruses Your private keys remain safe and secure.
Ellipal’s source code is partially accessible, and is similar to Ledger, they have a Github repository that showcases their Cross-chain wallet platform as well as their JS-Lib for developers to develop apps with the framework. For comparison, both major hardware wallet makers today (TREZOR as well as Ledger) possess a large amount of their code stored in public repositories, which makes it simple to understand how they implement security measures.
The Ellipal wallet currently supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the number of coins that are supported by its rivals, TREZOR and Ledger.
The $149 price tag of Ellipal wallet is a bargain. Ellipal wallet is on par with its competitors, but 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 are on the market longer and have a proven track history of security and reliability, the Ellipal wallet isn’t the most value-for-money money.
In conclusion, the Ellipal wallet has been a fresh player in the hardware wallet market, promising that it is 100% secure due to its complete separation from any network or computer. Its creators are relatively new and the product has not been tested in battle 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 other wallets. Although the concept of a fully isolated hardware wallet is intriguing, it’s important to consider the security and track record measures of other hardware wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is worthwhile for the cost is entirely up to the user.