The cryptocurrency world has witnessed an increase in the number of physical wallets that are available that promise to keep your digital assets safe and secure. The Ellipal wallet is a new player in this field It is aiming to differentiate itself from the crowd by providing a completely isolated solution. In this article, we’ll take you on a more in-depth look at the Ellipal wallet as well as the company behind it and its features to help you decide whether it’s worth investing in.
A hardware wallet is a gadget which keeps the private keys to your digital assets indefinitely, preventing hackers from stealing the funds remotely. The Ellipal wallet claims to be 100% secure because it is completely unconnected to any computer or network. This means it has no wired or wireless connectivity and instead, it communicates with QR codes via a camera on the rear of the wallet. The Ellipal wallet retails for $149 and is relatively new to the market, meaning that it has not been tested in battle yet.
Ellipal, the company that developed the hardware wallet is a relatively new player in the market. It raised $55K through an Indiegogo campaign to finance its development. The website of the company as well as reviews online claim that their hardware wallet is completely secure, but it’s important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are constructed in a manner that no one outside can view your private key. For example, even if you connect your TREZOR to a compromised device that is infected with viruses your private keys remain safe and safe.
Ellipal’s source code remains partially accessible, and is similar to Ledger the company has the Github repository available that shows their Cross-chain wallet framework aswell the JS-Lib that allows any app developer to work with their framework. In comparison, both leading hardware wallet manufacturers currently (TREZOR as well as Ledger) possess a large amount of their code on public repositories, making it easy to observe how they implement security measures.
The Ellipal wallet is currently compatible with a limited number of coins, including Bitcoin, Ethereum, Litecoin, as well as ERC20 tokens. This is less than the number of coins supported by its competitors, TREZOR and Ledger.
The price tag of $149 for this Ellipal wallet is on par with other wallets, however it’s important to keep in mind that it’s a new product that has not been battle-tested yet. When compared to the TREZOR as well as Ledger wallets, which are on the market longer and have a proven track record of security and reliability, the Ellipal wallet might not be the most value-for-money budget.
In the end, it is clear that the Ellipal wallet has been a fresh player in the hardware wallet market, promising that it is 100% safe due to its total separation from any computer or network. The company behind it is relatively new and it hasn’t been test-driven yet. The Ellipal wallet supports a limited number of coins and the price of $149 is on par with other wallets. While the idea of a fully exclusive hardware wallet is appealing however, you should consider the security and track record features of other hardware wallets prior to making a decision. The final decision on whether the Ellipal device is worthwhile for the cost is up to the individual.