Ellipal is perhaps one of the wallets that offer a wide range of cryptocurrency storage solutions. The 1st generation hardware wallet is manufactured by a company based in Hong Kong and was launched in 2018. Unlike the majority of hardware wallets, whose main aim is profit, Ellipal primarily focuses on security for its users’ funds. Over the years, it has grown its products catalog and features a cryptocurrency wallet app for desktop, iOS, and Android users.
Currently, Ellipal ships to over 70 countries, including the United Kingdom, Canada, and the United States. Its ability to feature a wide range of exceptional features makes it the go-to crypto wallet for anyone looking for top-notch security. However, what are some of its top features? How does it compare to some of the hardware wallets in the market? Read on as we have prepared a detailed insight into some of the critical things you need to know about it. But before we go into detail, let’s find out some of its key features.
Ellipal Wallet Key Features
4-inch touch screen: Ellipal’s huge screen capacity is perhaps one of the most notable features. It features a stunning 4-inch inbuilt touchscreen with amazing graphics. What’s more, it has high sensitivity, and it’s tough to scratch.
Air-gaping technology: One of the biggest concerns for the majority of crypto users is private key leaks. For this reason, it integrates a QR generation feature that is open-sourced and can guarantee that it will not leak.
Private keys import: Typically, the best way to guarantee the safety of your private keys is to store them yourself. Ellipal integrates a unique feature where users can import their private keys to their preferred storage.
IP65 rating: Ellipal is IP65 rated, which means that the device is limited ingress permitted, fully protected against dust or low-pressure jets. As a result, the device is one of the most damage-proof hardware wallets in the market.
Air-gapped transactions: The criterion incorporated in Ellipal’s mode of operations makes it one of the most secure hardware wallets. It features an Air-gap technology in its transactions, which ensures that it is physically isolated from other networks.
Tamper-proof: The majority of crypto wallet users lose their hardware wallet funds to hackers even before they start using the device. This is because the devices are compromised in the supply chain. Ellipal has designed their wallets with this in mind and has incorporated anti-tamper and anti-disassembly features to ensure that hackers do not get access to the devices.
Price and Unboxing
Regardless of where you are, you can get the complete package at $169, excluding shipping fees. Its packing contains 1 USB cable, 1Ellipal device, recovery sheet cards, and a getting started guide. Once you get your wallet, the next step is to set it up.
How to Set Up Your Ellipal Hardware Wallet
Besides its easy-to-use criterion, the Ellipan hardware wallet is quite easy to set up. Below is a detailed insight into how to go about setting up the device.
Step 1: Download Ellipal App
Start by turning on your Ellipal device, select your desired language, and then navigate to download the Ellipal page. After doing so, use your mobile phone to scan the Cold Wallet QR code and download the Ellipal App.
Step 2: Create a cold wallet account
After downloading the app, click next to begin your Ellipal journey. You will get a prompt to create a new account, recover vi1a mnemonics, or import your account.
- Create an account
When you choose to create an account, you will be redirected to a registration form where you will be required to fill in your details. Ensure you fill in the form with the correct details in the spaces provided.
- Back up mnemonic words
After successfully creating your account, click on “back up mnemonic words” and ensure you read the notes carefully. The backup phrase consists of 12 words and is used to restore your account in case your phone is lost or stolen. Ensure you write it down correctly and keep it in a safe place.
- Verify the mnemonic
After writing it down, enter the 12-word phrase to verify. This is to ensure that you have entered the correct details. Note that you might not be able to recover your funds if you lose your recovery phrase. For this reason, it is recommended to write it down on a piece of paper and keep multiple backups.
Step 3: Update hardware on a micro SD card
Go to https://www.ellipal.com/pages/update and download the latest firmware on external storage- preferably a micro SD.
Step 4: Insert the card to your device and complete the process
After downloading the firmware, you will be required to insert the card to the device to complete the setup. It will automatically detect the new firmware and start updating.
Sending and Receiving Crypto
Ellipal is designed with air-gapped technology for all its transactions. All its outgoing transactions have to be signed using a QR code that is generated on the hardware then scanned with the mobile app. You will be required to select the currency to be transferred and click “send.” After doing so, enter your desired amount and enter the recipient’s address. Finally, set the mining fee and scan the “signed data QR code” on the Ellipal.
Receiving funds is also quite easy. All you are required to do is select the account, assets, currency, click on “receive,” and copy the account address. Your funds should be available in your wallet almost immediately after they are sent to your account.
Undoubtedly, being able to store multiple currencies in a single wallet is every crypto wallet user’s wish. Ellipal has ensured its users get the best out of their hardware by providing their customers with the ability to store multiple cryptocurrencies. It provides support for over 31 native blockchains and support for TRC10, ERC20, and TRC20 tokens, which also makes it one of the most comprehensive crypto wallets in the world. Here is a list of some of its supported cryptocurrencies.
- Ethereum (ETC) and all ERC20 Tokens
- Bitcoin (BTC)
- Stellar Lumens (XLM)
- Binance Coin (BNB)
- Tron (TRX)
- XRP (XRP)
- Bitcoin Core (BTC)
- Icon (ICX)
- PalletOne (PTN)
- Bitcoin Cash (BTX)
- Tether (USDT)
Additionally, besides the fact that the website supports quite a myriad of currencies, it is always looking for ways to integrate even more cryptocurrencies in the months or years to come.
Ellipal Mobile App
Ellipal’s mobile app is available for both Android and iOS users. What’s more, it is also dual-purpose, meaning it can be used either as a hot wallet or a cold wallet. Typically, you can use it to store cryptocurrencies with or without the hardware.
The app lets you do pretty much everything, from sending and receiving multiple cryptocurrencies to storing them. Apart from that, you can also exchange cryptos natively and in a secure fashion within the app. You will notice that the app has a news section to provide users with updated prices from popular exchanges, quotes, and the latest news from the digital asset market.
Pros and Cons of Ellipal
- Its robust metal body offers protection against physical attacks
- Completely isolated from external attacks
- Features a sleek design
- Supports multiple cryptocurrencies
- Strong security
- A bit expensive for an emerging wallet
How Does it Compare to Competitors
So, what makes Ellipal unique? Although it has not gained recognition as the best crypto hardware wallet in the wallet, it features a dozen of amazing features. First, upon unboxing, the hardware is reminiscent of a premium cell phone. Its sleek design and presentation give a strong impression of a quality device. What’s more, it integrates a number of sophisticated security features, making it an incredible wallet to store your crypto assets.
Ellipal can be compared to a wallet such as Bitfi. They are quite similar in terms of physical appearance. However, Ellipal is a closed source and does not expose its private keys to public networks. Bitfi is an open-source and stores its user’s private keys externally.
Verdict: Is Ellipal Hardware Wallet Worth Your Money?
If you are looking for a hardware wallet that favors absolute security, usability, and portability, then Ellipal is your ideal option. It is a solid contender in today’s hardware wallet market. The device has an intuitive interface, large display, and reliable security features. What’s more, it allows users to store different cryptocurrencies in a single wallet, which is quite useful, especially for individuals looking for a reliable cryptocurrency wallet to conduct regular transactions.