The cryptocurrency world has witnessed an increase in the number of physical wallets that are available all promising to keep your digital assets safe and secure. Ellipal is one of them. Ellipal wallet is the newest player in this field and will stand out from the crowd by providing a completely isolated solution. In this post, we’ll look at a more in-depth review of the Ellipal wallet and the business behind it and the features that it has to offer to help you determine if it’s worth the investment.
The hardware wallet can be described as a device that stores the private key of your financial assets indefinitely and prevents hackers from taking your data remotely. The Ellipal wallet claims to be 100% secure as it is completely unconnected to any network or computer. It does not have wired or wireless connection and instead communicates via QR codes through a camera on the back of the device. The Ellipal wallet costs $149 and is relatively new on the market, which means it isn’t test-driven yet.
Ellipal, the company that developed the hardware wallet is a relatively young player in the market. They raised $55K in the course of an Indiegogo campaign to fund research and development for their products. The website of the company as well as reviews online claim the hardware wallet as 100% secure, however, it’s important to keep in mind that hardware wallets of rival businesses like TREZOR as well as Ledger are also designed in a way that no one outside can view your private key. For example, even if you connect your TREZOR with a compromised system which is infected by viruses, your private keys are still safe and secured.
Ellipal’s source code is only partially available, and, like Ledger the company has an Github repository which demonstrates their Cross-chain wallet framework aswell the JS-Lib that allows developers to develop apps with them. For comparison, both major hardware wallet manufacturers today (TREZOR as well as Ledger) possess a significant quantity of their software on public repositories, making it simple to understand the security measures they have implemented.
The Ellipal wallet is currently compatible with the following coins, including Bitcoin, Ethereum, Litecoin as well as ERC20 tokens. This is less than the number of coins that its competitors support, TREZOR and Ledger.
The price of $149 of this Ellipal wallet is on par with other wallets, however it’s important to keep in mind that it is a relatively new product that has not been tested for battle. In comparison to TREZOR or Ledger wallets that are on the market longer and have a proven track history of security The Ellipal wallet may not be the best value for cash.
In the end it is clear that it is clear that the Ellipal wallet has been a fresh competitor in the market for hardware wallets and promises to be 100% secure because of its complete isolation from any computer or network. Ellipal is a company that’s new and the product has not been 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 other wallets. Although the concept of a totally isolated hardware wallet is intriguing however, you should consider the security and track record measures of other wallets prior to making a choice. In the end, the decision on whether or not the Ellipal product is worthy of the price is entirely up to the user.