The cryptocurrency market has seen a rise in the number and variety of hardware wallets available on the market that promise that your digital assets will be safe and secure. The Ellipal wallet is the newest player in this field and will stand out from the crowd by providing an entirely separate solution. In this article, we’ll take a closer review of the Ellipal wallet, the business behind it and its features to help you determine whether it’s worth investing in.
The hardware wallet can be described as a gadget that stores the private key of your financial assets off-line to prevent hackers from stealing them remotely. The Ellipal wallet claims to be 100% secure because it is completely isolated from any network or computer. This means that it does not have wired or wireless connectivity and instead communicates via QR codes through an image camera at the rear of the wallet. The Ellipal wallet retails for $149 and is fairly new to the market, which implies that it hasn’t been test-driven yet.
Ellipal The company behind the wallet’s hardware is a relatively new company on the market. They raised $55K in an Indiegogo campaign to finance its development. The website of the company and its reviews online claim that their hardware wallet is completely secure, however, it’s important to keep in mind that hardware wallets of rival businesses such as TREZOR as well as Ledger are constructed in a manner that no outside attacker can access your private keys. For example, even if you connect your TREZOR to a compromised device that is infected with viruses Your private keys are still safe and secured.
Ellipal’s source code is only partially open, and similar to Ledger, they have the Github repository available that shows their Cross-chain wallet platform as well the JS-Lib that allows developers to develop apps with them. For comparison, both major hardware wallet manufacturers today (TREZOR and Ledger) possess a large amount of their code stored in public repositories, which makes it easy to see how they go about implementing security measures.
The Ellipal wallet is currently compatible with the following coins which include Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is lower than the number of coins supported by its competitors, TREZOR and Ledger.
The price of $149 for Ellipal wallet is a bargain. Ellipal wallet is comparable with the other wallets on the market, but it is important to note that it is a relatively new product that hasn’t been tested in battle yet. If you compare it to TREZOR or Ledger wallets that are on the market for longer and have a long-standing track performance in security, the Ellipal wallet may not be the best value for money.
In the end it is clear that Ellipal wallet is a good choice. Ellipal wallet has been a brand new player on the hardware wallet market and promises to be 100% secure because of its complete isolation from any network or computer. Ellipal is a company that’s new and the product has not been test-driven yet. The Ellipal wallet supports the use of a small number of coins and the price of $149 is on par with other wallets. Although the concept of a completely separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other hardware wallet options before making a choice. In the end, the decision on whether the Ellipal device is worthwhile for the cost is entirely up to the person who purchases it.