The ELLIPAL Hardware Wallet 2.0 is a new generation cryptocurrency hardware wallet created by ELLIPAL Limited, a Hong Kong-based company. How good is it? How does it fare when compared to Ledger or Trezor wallet? You’ll find the answers to these and many more in this article.
Overview of ELLIPAL
ELLIPAL is a new generation hardware wallet. It is the first hardware wallet to be fully isolated and has mobile phone App support. Private keys will never get to contact with any network while the App makes it suitable for everyday use.
ELLIPAL is an air-gapped device, it works flawlessly with ELLIPAL App via secure and verifiable QR codes. Without ever relying on USB cables or Bluetooth connection to work, ELLIPAL is the safest hardware wallet in the market. Users no longer require to operate on the PC.
ELLIPAL App provides all the functions users need. In the App, users can get market quotes, read the news, make exchanges and payments, and access DApps. Thanks to the App, ELLIPAL can supports users to manage their assets anytime and anywhere.
Company Profile
ELLIPAL Limited (2017) is a block-chain technology company with a focus on cryptocurrency users. ELLIPAL’s mission is to “Connect Everyone to the Block-chain safely and Conveniently” and build a community for block-chain users and projects.
ELLIPAL’s User Interface
The wallet design is similar to a touchscreen phone from 2012. However, this device houses all the circuitry you’ll expect in a cold storage hardware wallet, controlled using a color touchscreen and a single button by the side.
It doesn’t have any Wi-Fi, Bluetooth, or mobile connections. The Micro-USB port can only be used for charging the built-in battery which can last for 650 hours in standby mode.
The wallet currently supports 19 different coins such as BTC, ETH, XRP, DASH and more. It also supports all ERC20, TEC20 and TRC10 tokens. More coins are being regularly added each month through our updates. The update can be done easily offline by inserting a micro SD card into the wallet.
How to Setup ELLIPAL Wallet?
Setting up the ELLIPAL is incredibly simple. Just create your account, set up your password, note down the mnemonic words and choose which coins you would like to hold. Once done, just link the hardware wallet up with the App by scanning a QR code. This will take you less than five minutes
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Price of The ELLIPALHardware Wallet
The ELLIPALHardware Wallet 2.0 costs around $149 which are higher compared to other HD wallets like Trezor but you will be getting a wallet more useful.
Security
The wallet transfer coins by working with the companion mobile App by scanning QR codes. Through these QR codes, only transaction information is being transferred leaving your private keys safe and offline inside the wallet. Moreover, as QR codes are visual information, it does not need the internet or connections allowing the ELLIPAL to be completely isolated.
If someone steals your wallet. The wallet will erase all data after some incorrect password attempts. If you lose, damage the wallet or the data gets deleted, you can always get your account back by recovering with the account’s mnemonic on a new device or on another wallet.
Your private keys are internally encrypted; plus, multi-stage passwords ensure that no unauthorized individual would have access to your coins.
Supports New Coins Every Month
ELLIPAL provide new firmware updates to users once a month. The update contains new features and new coins for users to enjoy.
Currently supports 19 currencies and all ERC 20, TRC 20, and TRC 10 tokens.
All 19 currencies includes: BTC, XRP, ETH, XLM, USDT, LTC, DASH, ETC, DOGE, BTG, DGB, BTX, BCD, DCR, XZC, GRS, BCH, TRX, CMT.
Comparing ELLIPAL with Other Hardware Wallets
The smartphone-like device promises all the functionality of a Ledger or Trezor wallet, but without the need to ever connect to the internet.
Unlike the Trezor or Ledger Nano S, the ELLIPALCold Wallet isn’t designed like a USB device.
Up to this point, we can see that most of the Ledger’s function relies on PC to work. Operating with just two small buttons on the device can also take time to get used to. Moreover, the configuration process takes time and is difficult. These reasons made many cryptocurrency investors choose not to switch to a hardware wallet as it is inconvenient and complex.
ELLIPAL solves this dilemma between convenience and safety by creating a hardware wallet that works with a mobile phone App and requires no complex setting up thanks to its state of the art security system.
In conclusion, Ledger’s safety is well trusted and proven throughout the world. One major difference is that ELLIPAL has no physical connection to the network whatsoever while the Ledger is physically connected to the PC through the USB cable. This can protect the ELLIPAL from various forms of attacks that are possible through USB cables.
With its QR code technology and mobile App support, using ELLIPAL is fast, efficient, safe and easy. These, apart from safe, are qualities that are rarely thought about when thinking of the Ledger.
In Conclusion
The ELLIPAL Hardware Wallet 2.0 is a useful device. The hardware, App, and software interface are all well designed. Also, it is reasonably priced, and its QR-code security system makes it stand out from other wallet brands.
