The world of cryptocurrency has seen a rise in the number and variety of hardware wallets available on the market all promising that your digital assets will be safe and safe. The Ellipal wallet is a brand new competitor in this space, and it aims to stand out from the crowd by providing an entirely separate solution. In this post, we’ll look at a close review of the Ellipal wallet and its company that makes it and the features that it has to offer to help you decide whether it’s worth the money.
A hardware wallet is a device which keeps the private keys to your digital assets offline and prevents hackers from taking the funds remotely. The Ellipal wallet promises to be 100% secure since it is completely isolated from any computer or network. It is not wireless or wired connectivity, but instead, it communicates with QR codes via cameras on the rear end. The Ellipal wallet retails for $149 and is fairly new to the market, meaning it isn’t battle-tested yet.
Ellipal, the company that developed the wallet’s hardware, is a relatively new competitor in the market. It raised $55K through the course of an Indiegogo campaign to finance the development of their product. The company’s website and reviews online claim they are completely safe, however it is important to remember that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For example, even if you connect your TREZOR to a compromised system that is infected with viruses, your private keys will remain safe and secured.
Ellipal’s source code remains partially open, and similar to Ledger the company has an Github repository that showcases their Cross-chain wallet platform as well the JS-Lib that allows any app developer to work with their framework. In comparison, both leading hardware wallet makers currently (TREZOR as well as Ledger) are both able to have large amount of their code stored in public repositories, which makes it easy to see how they implement security measures.
The Ellipal wallet supports only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger.
The price of $149 to purchase this Ellipal wallet is comparable with other wallets, however it is important to note that it is a relatively new product that has not been battle-tested yet. If you compare it to TREZOR or Ledger wallets, which are available for longer and have a proven track record of security, the Ellipal wallet isn’t the most value-for-money budget.
In conclusion In conclusion, it is clear that the Ellipal wallet is a brand new competitor in the hardware wallet market and promises to be completely secure because of its complete isolation from any network or computer. The company behind it is relatively new, and the product has not been tested in battle yet. The Ellipal wallet currently supports the use of a small number of coins and its price at $149 is comparable with its competitors. Although the concept of a completely exclusive hardware wallet is appealing however, you should consider the history and security measures of other wallets prior to making a decision. Ultimately, the decision of whether or not the Ellipal device is worthwhile for the cost is entirely up to the user.