The cryptocurrency world has witnessed an increase in the number of physical wallets on the market all promising to keep your digital assets safe and secure. The Ellipal wallet is a new player in the field and is aiming to differentiate itself from the crowd by providing an unrivalled solution. In this article, we’ll take you on a closer review of the Ellipal wallet as well as the business behind it, and its features to help you decide whether it’s worth investing in.
The hardware wallet can be described as a gadget which keeps the private keys for your personal digital accounts indefinitely to prevent hackers from stealing them remotely. The Ellipal wallet is 100% secure because it is completely isolated from any computer or network. This means that it has no wired or wireless connection and instead, it communicates with QR codes via an image camera at the back of the device. The Ellipal wallet is priced at $149. It is relatively new to the market, which means that it has not been test-driven yet.
Ellipal, the company behind the wallet’s hardware component is a relatively young player in the market. It raised $55K through the course of an Indiegogo campaign to finance its development. The website of the company and its online reviews claim the hardware wallet as completely secure, however, it’s important to note that the hardware wallets of rival companies such as TREZOR and Ledger are constructed in a manner that no one outside can see your private key. In the event that, for instance, you connect your TREZOR on a compromised device that is infected with viruses, your private keys remain safe and safe.
Ellipal’s source code is partially accessible, and is similar to Ledger the company has an Github repository that showcases their Cross-chain wallet framework as well in their JS-Lib, which is available to developers to develop apps with them. In comparison, both leading hardware wallet companies currently (TREZOR as well as Ledger) have a significant amount of their code stored on public repositories. This makes it easy to see how they implement security measures.
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 that its competitors support, TREZOR and Ledger.
The $149 price tag of this Ellipal wallet is comparable with other wallets, however it’s important to remember that it is a relatively new product and has not been tested for battle. In comparison to TREZOR or Ledger wallets that have been on the market for longer and have a long-standing track history of security, the Ellipal wallet might not be the best value for your budget.
In the end it is clear that the Ellipal wallet has been a fresh competitor in the hardware wallet market and promises that it is 100% secure due to its complete inaccessibility to any network or computer. Ellipal is a company that’s relatively new and the product has not been battle-tested yet. The Ellipal wallet supports only a few coins, and its price tag of $149 is in line with other wallets. Although the concept of a fully separated hardware wallet sounds appealing, it’s important to consider the history and security measures of other wallet options before making a choice. The final decision on whether the Ellipal wallet is worth the price is entirely up to the person who purchases it.