The world of cryptocurrency has seen a rise in the number and variety of hardware wallets that are available all promising that your digital assets will be safe and safe. The Ellipal wallet is a new player in the field, and it will stand out from the crowd by providing an entirely separate solution. In this post, we’ll look at a more in-depth review of the Ellipal wallet as well as the business behind it and the features that it has to offer to help you determine whether it’s worth the money.
A hardware wallet is a device that stores the private key to your digital assets off-line to prevent hackers from stealing them remotely. The Ellipal wallet promises to be 100% secure because it is completely isolated from any network or computer. This means it is not wired or wireless connectivity and instead, it communicates with QR codes via a camera on the rear of the wallet. The Ellipal wallet costs $149 and is relatively new on the market, which implies it isn’t tested in battle yet.
Ellipal The company behind the hardware wallet is a relatively young competitor in the market. They raised $55K in an Indiegogo campaign to fund the development of their product. The website of the company as well as online reviews state the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are made in a way that no one outside can see your private key. In the event that, for instance, it is possible to connect your TREZOR to a compromised device that is infected with viruses your private keys remain safe and secured.
Ellipal’s source code remains partially accessible, and is similar to Ledger the company has a Github repository that showcases their Cross-chain wallet platform as well as their JS-Lib for any App developer to work with the framework. In comparison, both leading hardware wallet makers currently (TREZOR and Ledger) have a considerable amount of their code in public repositories, which makes it easy to observe how they go about implementing security measures.
The Ellipal wallet supports a limited number of coins which include Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is less than the coins supported by its competitors, TREZOR and Ledger.
The $149 price tag for Ellipal wallet is a bargain. Ellipal wallet is on par with the other wallets on the market, but it’s important to keep in mind that it’s a new product that hasn’t been tested in battle yet. In comparison to TREZOR or Ledger wallets, which are on the market longer and have a long-standing track record of security, the Ellipal wallet may not be the best value for your money.
In conclusion, Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the hardware wallet market that claims to be completely secure due to its complete isolation from any network or computer. The company behind it is new and the product has not been battle-tested 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 totally exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets before making a choice. In the end, the decision on whether the Ellipal device is worthwhile for the cost is entirely up to the user.