The cryptocurrency market has seen a rise in the number of physical wallets available on the market, each promising that your digital assets will be safe and secure. The Ellipal wallet is the newest competitor in this space It aims to stand out from the crowd by providing a completely isolated solution. In this article, we’ll take a close look at the Ellipal wallet as well as its company that makes it, and its features to help you decide whether it’s worth investing in.
The hardware wallet can be described as a gadget that keeps the private key of your financial assets offline and prevents hackers from taking them remotely. The Ellipal wallet claims to be 100% secure as it is completely unconnected to any computer or network. This means it does not have wireless or wired connectivity, but instead communicates via QR codes via a camera on the rear end. The Ellipal wallet costs $149 and is relatively new to the market, meaning it isn’t test-driven yet.
Ellipal, the company behind the wallet’s hardware is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to fund the development of their product. The website of the company and its reviews online claim they are 100% secure, however, it’s important to remember that hardware wallets of rival firms such as TREZOR and Ledger are made in a way that no attacker from outside is able to access your private keys. For example, even if it is possible to connect your TREZOR on a compromised system which is infected by viruses, your private keys will remain safe and secure.
Ellipal’s source code remains partially open, and similar to Ledger the company has the Github repository which demonstrates their Cross-chain wallet framework aswell the JS-Lib that allows any App developer to work with them. As a contrast, both of the leading hardware wallet manufacturers today (TREZOR as well as Ledger) are both able to have significant quantity of their software on public repositories, making it easy to see how they implement security measures.
The Ellipal wallet supports the following coins which include Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. This is fewer than the amount of coins that its competitors support, TREZOR and Ledger.
The $149 price tag to purchase this Ellipal wallet is comparable with its competitors, but it’s important to keep in mind that it’s a new product that has not been tested in battle yet. In comparison to TREZOR as well as Ledger wallets, which have been on the market for longer and have an established track record of security and reliability, the Ellipal wallet may not be the best value for your budget.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet is a new player in the market for hardware wallets that claims to be 100% secure because of its complete separation from any computer or network. The company behind it is relatively new, and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins and the price at $149 is comparable with other wallets. While the idea of a completely separated hardware wallet sounds appealing but it’s crucial to look at the track record and security measures of other wallet options before making a decision. In the end, the decision on whether the Ellipal wallet is worth the price is entirely up to the user.