The world of cryptocurrency has seen a rise in the number and variety of hardware wallets on the market all promising to keep your digital assets safe and safe. It is the Ellipal wallet is a brand new competitor in this space and aims to stand out from the crowd by providing a completely isolated solution. In this article, we’ll take you on a more in-depth review of the Ellipal wallet as well as the company behind it and the features it offers to help you decide whether it’s worth the money.
A hardware wallet is a gadget which keeps the private keys of your financial assets offline, preventing hackers from stealing your data remotely. The Ellipal wallet claims to be 100% secure because it is completely isolated from any computer or network. This means that it has no wireless or wired connectivity, but instead communicates through QR codes through cameras on the back of the device. The Ellipal wallet retails for $149 and is relatively new to the market, meaning it isn’t tested in battle yet.
Ellipal, the company that developed the wallet’s hardware, is a relatively new company on the market. The company raised $55K via an Indiegogo campaign to finance the development of their product. The website of the company as well as reviews online claim they are 100% secure, however, it’s important to remember that hardware wallets of rival businesses such as TREZOR and Ledger are constructed in a manner that no outside attacker can view your private key. For example, even if you connect your TREZOR with a compromised system that is infected with viruses your private keys are still safe and secured.
Ellipal’s source code is partially open, and similar to Ledger and Ledger, they have a Github repository available that shows their Cross-chain wallet framework aswell in their JS-Lib, which is available to any app developer to work with them. As a contrast, both of the leading hardware wallet manufacturers today (TREZOR and Ledger) have a large amount of their code on public repositories. This makes it easy to see the security measures they have implemented.
The Ellipal wallet is currently compatible with the following coins, including Bitcoin, Ethereum, Litecoin and ERC20 tokens. This is lower than the coins that its competitors support, TREZOR and Ledger.
The price tag of $149 of this Ellipal wallet is on par with its competitors, but it’s important to remember that it is a relatively new product that has not been battle-tested yet. When compared to the TREZOR or Ledger wallets that have been on the market longer and have an established track history of security The Ellipal wallet may not be the most value-for-money cash.
In the end, it is clear that the Ellipal device is an new player in the hardware wallet market, promising to be 100% secure because of its complete separation from any computer or network. Its creators are new, and the product has not been test-driven yet. The Ellipal wallet is currently compatible with a limited number of coins and its price of $149 is on par with its competitors. 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. Ultimately, the decision of whether or not the Ellipal device is worthwhile for the cost is entirely up to the person who purchases it.