The cryptocurrency market has seen a rise in the number and variety of hardware wallets on the market all promising that your digital assets will be safe and safe. Ellipal is one of them. Ellipal wallet is the newest competitor in this space, and it aims to stand out from the crowd by providing an entirely separate solution. In this article, we’ll take a close review of the Ellipal wallet, the company behind it, and its features to help you determine whether it’s worth the money.
Hardware wallets are device that stores the private key to your digital assets indefinitely and prevents hackers from taking them remotely. The Ellipal wallet promises to be 100% secure as it is completely unconnected to any computer or network. This means that it is not wired or wireless connectivity and instead communicates through QR codes through an image camera at the back of the device. The Ellipal wallet costs $149 and is fairly new to the market, meaning it isn’t test-driven yet.
Ellipal, the company that developed the hardware wallet is a relatively new company on the market. They raised $55K in the course of an Indiegogo campaign to help fund the development of their product. The company’s website and online reviews state they are completely secure, however, it’s 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 outside attacker can see your private key. For instance, even if you connect your TREZOR on a compromised device which is infected by viruses, your private keys remain safe and secured.
Ellipal’s source code remains partially available, and, as with Ledger and Ledger, they have an Github repository that showcases their Cross-chain wallet framework 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 today (TREZOR and Ledger) have a significant quantity of their software on public repositories. This makes it easy to observe how they implement security measures.
The Ellipal wallet is currently compatible with only a few coins that are supported, such as 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 in line with the other wallets on the market, but it is important to note that it is a relatively new product and has not been battle-tested yet. In comparison to TREZOR and Ledger wallets that have been on the market longer and have a proven track history of security The Ellipal wallet isn’t the best value for money.
In conclusion, it is clear that the Ellipal device is an brand new player in the hardware wallet market and promises to be 100% safe due to its total separation from any network or computer. The company behind it is relatively new, and the product isn’t test-driven 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 fully isolated hardware wallet is intriguing however, you should consider the history and security measures of other wallets before making a choice. Ultimately, the decision of whether the Ellipal product is worthy of the price is entirely up to the person who purchases it.