The world of cryptocurrency has seen an increase in the number and variety of hardware wallets that are available that promise to keep your digital assets safe and safe. It is the Ellipal wallet is a brand new player in this field, and it is aiming to differentiate itself from the rest by providing an entirely separate solution. In this article, we’ll take a more in-depth review of the Ellipal wallet, its company that makes it, and the features that it has to offer to help you decide whether it’s worth the money.
Hardware wallets are 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 as it is completely isolated from any network or computer. It is not wired or wireless connection and instead communicates through QR codes through a camera on the rear of the wallet. The Ellipal wallet costs $149 and is fairly new to the market, which implies that it hasn’t been battle-tested yet.
Ellipal, the company that developed the wallet’s hardware, is a relatively new competitor in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The website of the company as well as reviews online claim they are completely safe, however it is important to keep in mind that hardware wallets from rival businesses like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. For instance, even if the TREZOR is connected TREZOR with a compromised device which is infected by viruses Your private keys are still safe and secured.
Ellipal’s source code is only 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 the framework. For comparison, both major hardware wallet makers currently (TREZOR and Ledger) are both able to have considerable quantity of their software on public repositories. This makes it easy to see how they go about implementing security measures.
The Ellipal wallet is currently compatible with only a few coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is lower than the number of coins supported by its competitors, TREZOR and Ledger.
The price of $149 to purchase Ellipal wallet is a bargain. Ellipal wallet is in line with its competitors, but it’s important to keep in mind that it’s a new product that has not been tested for battle. In comparison to TREZOR or Ledger wallets that are available longer and have a proven track history of security and reliability, the Ellipal wallet might not be the best value for your budget.
In conclusion it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market and promises to be 100% safe due to its total separation from any computer or network. Ellipal is a company that’s relatively 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 its price of $149 is on par with the other options. While the idea of a completely exclusive hardware wallet is appealing, it’s important to consider the history and security measures of other hardware wallets prior to making a choice. The final decision on whether or not the Ellipal product is worthy of the price is entirely up to the user.