The world of cryptocurrency has seen an increase in the number of hardware wallets that are available, each promising that your digital assets will be safe and secure. The Ellipal wallet is a brand new player in this field It aims to stand out from its competitors by offering an unrivalled solution. In this article, we’ll take you on a more in-depth review of the Ellipal wallet and the business behind it, and the features that it has to offer to help you decide whether it’s worth investing in.
A hardware wallet is a device which keeps the private keys of your financial assets indefinitely, preventing hackers from stealing them remotely. The Ellipal wallet is 100% secure as it is completely isolated from any network or computer. This means that it does not have wireless or wired connectivity, but instead communicates through QR codes through a camera on the rear of the wallet. The Ellipal wallet retails for $149 and is relatively new to the market, which implies it isn’t battle-tested yet.
Ellipal, the company that developed the wallet’s hardware component is a relatively new competitor in the market. They raised $55K in the course of an Indiegogo campaign to fund its development. The company’s website and online reviews claim they are completely safe, however it is important to keep in mind that hardware wallets of competing firms such as TREZOR and Ledger are constructed in a manner that no attacker from outside is able to access your private keys. For instance, even if it is possible to connect your TREZOR with a compromised system which is infected by viruses your private keys remain safe and secured.
Ellipal’s source code remains partially accessible, and is as with Ledger and Ledger, they have an Github repository available that shows their Cross-chain wallet platform as well as their JS-Lib for any App developer to work with the framework. For comparison, both major hardware wallet makers today (TREZOR and Ledger) possess a considerable quantity of their software in public repositories, which makes it easy to see the security measures they have implemented.
The Ellipal wallet currently supports only a few coins, including Bitcoin, Ethereum, Litecoin, and ERC20 tokens. This is fewer than the coins that are supported by its rivals, TREZOR and Ledger.
The price tag of $149 for Ellipal wallet is a bargain. Ellipal wallet is on par with the other wallets on the market, but it’s important to remember that it is a relatively new product that hasn’t been tested in battle yet. If you compare it to TREZOR or Ledger wallets, which are available longer and have a long-standing track record of security, the Ellipal wallet isn’t the most value-for-money budget.
In conclusion In conclusion, the Ellipal wallet is a fresh player on the hardware wallet market that claims that it is 100% safe due to its total isolation from any computer or network. Ellipal is a company that’s new and the product isn’t battle-tested yet. The Ellipal wallet supports the use of a small number of coins, and its price tag of $149 is on par with the other options. 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 wallet options before making a decision. In the end, the decision on whether or not the Ellipal device is worthwhile for the price is up to the individual.