The cryptocurrency world has witnessed an increase in the number of physical wallets available on the market that promise that your digital assets will be safe and secure. It is the Ellipal wallet is the newest player in this field, and it is aiming to differentiate itself from its competitors by offering a completely isolated solution. In this article, we’ll take a closer review of the Ellipal wallet, its company that makes it, and its features to help you determine whether it’s worth the money.
The hardware wallet can be described as a gadget that keeps the private key of your financial assets off-line, preventing hackers from stealing the funds remotely. The Ellipal wallet is 100% secure since it is completely isolated from any network or computer. This means that it is not wireless or wired connectivity, but instead communicates via QR codes via an image camera at the rear of the wallet. The Ellipal wallet costs $149 and is relatively new to the market, which implies that it hasn’t been test-driven yet.
Ellipal, the company that developed the wallet’s hardware component, is a relatively new company on the market. It raised $55K through an Indiegogo campaign to help fund its development. The company’s website and reviews online claim they are 100% secure, but it’s important to note that the hardware wallets from rival firms such as TREZOR and Ledger are also designed in a way that no one outside can view your private key. For example, even if the TREZOR is connected TREZOR with a compromised system that has been infected with viruses your private keys remain safe and secured.
Ellipal’s source code is only partially open, and like Ledger the company has the Github repository that showcases their Cross-chain wallet framework aswell as their JS-Lib for any app developer to work with their framework. For comparison, both major hardware wallet manufacturers today (TREZOR and Ledger) possess a large amount of their code in public repositories, which makes it easy to observe how they go about implementing security measures.
The Ellipal wallet is currently compatible with the following coins that are supported, such as Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is fewer than the coins supported by its competitors, TREZOR and Ledger.
The $149 price tag of the Ellipal wallet is on par with the other wallets on the market, but it is important to note that it’s a new product that has not been battle-tested yet. In comparison to TREZOR and Ledger wallets that have been on the market for longer and have an established track record of security and reliability, the Ellipal wallet might not be the best value for your budget.
In conclusion In conclusion, Ellipal wallet is a good choice. Ellipal wallet is a fresh player in the market for hardware wallets, promising that it is 100% safe due to its total isolation from any network or computer. Its creators are relatively new, and the product isn’t tested in battle yet. The Ellipal wallet currently supports only a few coins and the price of $149 is in line with its competitors. While the idea of a fully exclusive hardware wallet is appealing, it’s important to consider the track record and security features of other hardware wallet options before making a decision. Ultimately, the decision of whether the Ellipal device is worthwhile for the price is entirely up to the person who purchases it.