The world of cryptocurrency has seen an increase in the number of physical wallets that are available that promise that your digital assets will be safe and secure. It is the Ellipal wallet is a brand new competitor in this space, and it is aiming to differentiate itself from the rest by providing a completely isolated solution. In this article, we’ll take you on a close review of the Ellipal wallet and the business behind it and the features it offers to help you decide whether it’s worth the money.
The hardware wallet can be described as a device which keeps the private keys to your digital assets off-line, preventing hackers from stealing them remotely. The Ellipal wallet is 100% secure because it is completely unconnected to any computer or network. This means it is not wired or wireless connection and instead, it communicates with QR codes through a camera on the rear end. The Ellipal wallet is priced at $149. It is relatively new to the market, which implies it isn’t tested in battle yet.
Ellipal, the company that developed the wallet’s hardware component, is a relatively new competitor in the market. It raised $55K through an Indiegogo campaign to fund the development of their product. The company’s website and online reviews claim the hardware wallet as completely safe, however it is important to keep in mind that hardware wallets from rival firms such as TREZOR as well as Ledger are constructed in a manner that no attacker from outside is able to view your private key. For instance, even if the TREZOR is connected TREZOR on a compromised system which is infected by viruses your private keys are still safe and secure.
Ellipal’s source code is only partially accessible, and is as with Ledger and Ledger, they have an Github repository available that shows their Cross-chain wallet platform as well as their JS-Lib for any app developer to work with the framework. As a contrast, both of the leading hardware wallet makers today (TREZOR as well as Ledger) possess a considerable amount of their code stored on public repositories. This makes it simple to understand how they implement security measures.
The Ellipal wallet is currently compatible with only a few coins that are supported, such as Bitcoin, Ethereum, Litecoin along with ERC20 tokens. This is fewer than the number of coins supported by its competitors, TREZOR and Ledger.
The $149 price tag of the Ellipal wallet is on par with other wallets, however it is important to note that it is a relatively new product and has not been tested for battle. In comparison to TREZOR as well as Ledger wallets, which have been on the market for longer and have an established track record of security and reliability, the Ellipal wallet isn’t the best value for budget.
In the end In conclusion, it is clear that the Ellipal device is an brand new player in the market for hardware wallets that claims to be 100% secure due to its complete separation from any network or computer. Ellipal is a company that’s relatively new, and the product has not been tested in battle yet. The Ellipal wallet supports only a few coins and the price of $149 is on par with the other options. While the idea of a completely exclusive hardware wallet is appealing but it’s crucial to look at the track record and security features of other hardware wallets prior to making a decision. In the end, the decision on whether or not the Ellipal device is worthwhile for the cost is entirely up to the user.