The cryptocurrency world has witnessed an increase in the number and variety of hardware wallets that are available all promising to keep your digital assets safe and safe. It is the Ellipal wallet is a brand new player in this field, and it aims to stand out from the crowd by providing an unrivalled solution. In this article, we’ll take a closer review of the Ellipal wallet as well as the business behind it, and its features to help you decide if it’s worth the investment.
A hardware wallet is a device that stores the private key of your financial assets off-line to prevent hackers from stealing them remotely. The Ellipal wallet promises to be 100% secure because it is completely unconnected to any computer or network. It is not wireless or wired connectivity, but instead communicates via QR codes through cameras on the back of the device. The Ellipal wallet retails for $149 and is fairly new to the market, meaning that it hasn’t been tested in battle yet.
Ellipal The company behind the wallet’s hardware component is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund research and development for their products. The website of the company and its reviews online claim that their hardware wallet is 100% secure, however, it’s important to keep in mind that hardware wallets from rival companies such as TREZOR as well as Ledger are constructed in a manner that no one outside can access your private keys. For instance, even if it is possible to connect your TREZOR on a compromised system that is infected with viruses, your private keys remain safe and secure.
Ellipal’s source code remains partially open, and as with Ledger, they have an Github repository available that shows their Cross-chain wallet framework as well as their JS-Lib for developers to develop apps with them. In comparison, both leading hardware wallet companies today (TREZOR as well as Ledger) possess a significant amount of their code in public repositories, which makes it easy to see how they go about implementing security measures.
The Ellipal wallet supports only a few coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the amount of coins that are supported by its rivals, TREZOR and Ledger.
The price of $149 of the Ellipal wallet is comparable with the other wallets on the market, but it is important to note that it is a relatively new product and has not been tested for battle. If you compare it to TREZOR as well as Ledger wallets, which are on the market for longer and have an established track performance in security and reliability, 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 player in the hardware wallet market that claims to be completely safe due to its total inaccessibility to any network or computer. Its creators are relatively new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag at $149 is comparable with other wallets. Although the concept of a fully exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether or not the Ellipal device is worthwhile for the price is entirely up to the user.