The world of cryptocurrency has seen a rise in the number and variety of hardware wallets available on the market, each promising to keep your digital assets safe and secure. The Ellipal wallet is a new player in this field and aims to stand out from its competitors by offering an entirely separate solution. In this article, we’ll take you on a closer review of the Ellipal wallet, the business behind it and the features that it has to offer to help you decide whether it’s worth investing in.
Hardware wallets are device that keeps the private key of your financial assets indefinitely to prevent hackers from stealing them remotely. The Ellipal wallet claims to be 100% secure because it is completely disconnected from any network or computer. It is not wired or wireless connectivity and instead communicates via QR codes through an image camera at the rear of the wallet. The Ellipal wallet is priced at $149. It is fairly new to the market, meaning that it hasn’t been test-driven yet.
Ellipal The company behind the hardware wallet, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to fund research and development for their products. The company’s website and online reviews claim the hardware wallet as 100% safe, however it is important to keep in mind that hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no attacker from outside is able to 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 will remain safe and safe.
Ellipal’s source code is only partially open, and as with Ledger the company has the Github repository available that shows their Cross-chain wallet platform as well as their JS-Lib for any App developer to work with them. As a contrast, both of the leading hardware wallet makers currently (TREZOR and Ledger) have 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 a limited number of coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the coins that its competitors support, TREZOR and Ledger.
The price tag of $149 of Ellipal wallet is a bargain. Ellipal wallet is on par with the other wallets on the market, but it is important to note that it is a relatively new product and has not been tested for battle. When compared to the TREZOR and Ledger wallets, which are available for longer and have a long-standing track record of security and reliability, the Ellipal wallet isn’t the best value for your cash.
In the end it is clear that the Ellipal wallet is a brand new player in the market for hardware wallets and promises to be 100% safe due to its total isolation from any network or computer. Ellipal is a company that’s new, and the product isn’t battle-tested yet. The Ellipal wallet supports only a few coins and its price of $149 is on par with other wallets. While the idea of a totally exclusive hardware wallet is appealing however, you should consider the security and track record measures of other hardware wallets prior to making a decision. The final decision on whether the Ellipal wallet is worth the cost is up to the individual.