The cryptocurrency world has witnessed a rise in the number of physical wallets available on the market all promising to keep your digital assets safe and secure. The Ellipal wallet is a brand new player in this field and aims to stand out from the rest by providing a completely isolated solution. In this article, we’ll take a close look at the Ellipal wallet and its company that makes it, and its features to help you decide if it’s worth the investment.
The hardware wallet can be described as a gadget that keeps the private key for your personal digital accounts indefinitely, preventing hackers from stealing your data remotely. The Ellipal wallet claims to be 100% secure since it is completely unconnected to any computer or network. This means that it is not wired or wireless connection and instead communicates through QR codes via cameras on the rear of the wallet. The Ellipal wallet is priced at $149. It is relatively new on the market, meaning that it hasn’t been battle-tested yet.
Ellipal, the company behind the wallet’s hardware, is a relatively new player in the market. They raised $55K in an Indiegogo campaign to finance research and development for their products. The company’s website and online reviews state they are 100% safe, however it is important to keep in mind that hardware wallets of competing firms like TREZOR and Ledger are also designed in a way that no outside attacker can access your private keys. In the event that, for instance, it is possible to connect your TREZOR on a compromised computer that has been infected with viruses, your private keys remain safe and secure.
Ellipal’s source code remains partially available, and, as with Ledger, they have the Github repository that showcases their Cross-chain wallet framework aswell as their JS-Lib for any App developer to work with their framework. As a contrast, both of the leading hardware wallet companies today (TREZOR as well as 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, and ERC20 tokens. This is lower than the amount of coins supported by its competitors, TREZOR and Ledger.
The $149 price tag for this Ellipal wallet is comparable with the other wallets on the market, but it’s important to keep in mind that it is a relatively new product that hasn’t been tested in battle yet. In comparison to TREZOR and Ledger wallets, which are on the market longer and have an established track history of security The Ellipal wallet might not be the most value-for-money cash.
In the end it is clear that Ellipal wallet is a good choice. Ellipal device is an fresh competitor in the market for hardware wallets and promises to be completely safe due to its total separation from any computer or network. Ellipal is a company that’s new, and it hasn’t been tested in battle yet. The Ellipal wallet supports a limited number of coins and its price at $149 is comparable with other wallets. Although the concept of a totally separated hardware wallet sounds appealing but it’s crucial to look at the history and security features of other hardware wallets prior to making a decision. The final decision on whether or not the Ellipal wallet is worth the cost is entirely up to the user.