The cryptocurrency world has witnessed a rise in the number and variety of hardware wallets available on the market, each promising that your digital assets will be safe and secure. The Ellipal wallet is a brand new player in this field and is aiming to differentiate itself from its competitors by offering a completely isolated solution. In this article, we’ll take you on a more in-depth review of the Ellipal wallet, 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 gadget that stores the private key of your financial assets indefinitely to prevent hackers from stealing your data remotely. The Ellipal wallet claims to be 100% secure since it is completely isolated from any network or computer. It does not have wired or wireless connectivity and instead communicates via QR codes via cameras on the rear end. The Ellipal wallet costs $149 and is relatively new on the market, meaning that it has not been battle-tested yet.
Ellipal, the company behind the hardware wallet is a relatively young player in the market. They raised $55K in an Indiegogo campaign to help fund its development. The website of the company and its online reviews state that their hardware wallet is 100% secure, but it’s important to keep in mind that hardware wallets of competing firms such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to see your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device that is infected with viruses Your private keys remain safe and safe.
Ellipal’s source code is only partially accessible, and is as with Ledger and Ledger, they have the Github repository which demonstrates their Cross-chain wallet framework aswell as their JS-Lib for developers to develop apps with them. For comparison, both major hardware wallet makers today (TREZOR as well as Ledger) possess a significant amount of their code in public repositories, which makes it easy to see how they implement security measures.
The Ellipal wallet is currently compatible with a limited number of coins, including Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is lower than the coins that its competitors support, TREZOR and Ledger.
The price of $149 for this Ellipal wallet is comparable with its competitors, but it is important to note that it is a relatively new product and has not been tested in battle yet. When compared to the TREZOR as well as Ledger wallets, which have been on the market for longer and have an established track record of security The Ellipal wallet might not be the best value for budget.
In conclusion, it is clear that the Ellipal device is an new player on the market for hardware wallets and promises to be completely safe due to its total inaccessibility to any network or computer. Its creators are new, and the product isn’t tested in battle yet. The Ellipal wallet is currently compatible with the use of a small number of coins and the price at $149 is comparable with other wallets. While the idea of a fully isolated hardware wallet is intriguing but it’s crucial to look at the security and track record measures of other hardware wallet options before making a decision. In the end, the decision on whether the Ellipal product is worthy of the price is up to the individual.