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The cryptocurrency market has seen a rise in the number and variety of hardware wallets on the market, each promising to keep your digital assets safe and secure. It is the Ellipal wallet is the newest player in this field and is aiming to differentiate itself from its competitors by offering an entirely separate solution. In this article, we’ll take you on a more in-depth look at the Ellipal wallet and the business behind it, and the features it offers to help you determine whether it’s worth investing in.

The hardware wallet can be described as a gadget that stores the private key to your digital assets off-line and prevents hackers from taking your data remotely. The Ellipal wallet claims to be 100% secure as it is completely disconnected from any network or computer. This means that it is not wired or wireless connection and instead, it communicates with QR codes through an image camera at the rear of the wallet. The Ellipal wallet costs $149 and is fairly new to the market, meaning that it has not been battle-tested yet.

Ellipal, the company behind the wallet’s hardware component is a relatively young competitor in the market. They raised $55K in the course of an Indiegogo campaign to finance its development. The website of the company as well as reviews online claim the hardware wallet as 100% secure, but it’s important to note that the hardware wallets of rival firms like TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. In the event that, for instance, the TREZOR is connected TREZOR to a compromised device which is infected by viruses your private keys remain safe and secure.

Ellipal’s source code remains partially available, and, similar to Ledger the company has a Github repository available that shows their Cross-chain wallet framework aswell as their JS-Lib for any App developer to work with them. As a contrast, both of the leading hardware wallet companies today (TREZOR and Ledger) possess a significant amount of their code stored in public repositories, which makes it simple to understand the security measures they have implemented.

The Ellipal wallet is currently compatible with a limited number of coins that are supported, such as 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 of $149 to purchase the Ellipal wallet is comparable with the other wallets on the market, but it’s important to remember that it is a relatively new product that hasn’t been tested for battle. When compared to the TREZOR and Ledger wallets, which are on the market for longer and have a proven track history of security and reliability, the Ellipal wallet may not be the best value for cash.

In the end it is clear that the Ellipal wallet has been a brand new player on the market for hardware wallets and promises to be completely safe due to its total isolation from any network or computer. Its creators are new, and it hasn’t been test-driven yet. The Ellipal wallet currently supports a limited number of coins, and its price tag of $149 is on par with its competitors. While the idea of a totally isolated hardware wallet is intriguing, it’s important to consider the history and security measures of other wallets before making a choice. In the end, the decision on whether or not the Ellipal device is worthwhile for the price is up to the individual.