What is Ellipal?
The Ellipal EC-01 is a cold hardware wallet which enables users to store and manage a variety of cryptocurrencies. What sets apart Ellipal from other hardware wallets is that it lacks Wi-Fi, 4G, Bluetooth, USB ports or any other form of connectivity.
The Ellipal hardware wallet actively blocks the device form connecting to a network. The only way it is able to communicate with a blockchain is via the use of QR codes. You will be required to download the app on your smartphone and then scan the QR code using your wallet in order to move your funds.
The wallet is based on a universal protocol called Open Cross Chain Wallet (OCCW) which enables it to support various cryptocurrencies and blockchains.
The Ellipal hardware wallet supports BTC, ETH, XRP, DGB, DASH, LTC, ETC, USDT, CMT, and a long list of ERC-20 tokens, with new cryptos being constantly added to the list. The wallet can be updated by using a microSD card slot located beneath the rear case.
Ellipal can be installed on mobile devices that run on Android and iOS operating systems.
The device itself looks like an older version of a smartphone. Its measurements are 119x64x10mm and features a 4-inch color touchscreen, a 5MP camera on its back for scanning the QR codes, and a power switch its right side. The battery is said to last 650 hours in standby mode and can be fully charged in 90 minutes.
The USB port on the top is only for loading the battery, and a microSD card slot for updates is located on the back under the cover.
In addition to transacting to and from the wallet, there are other useful features available. The app allows you to view the market situation of various coins, read current crypto-related news and events, or manage addresses by using the profile tab.
You can also generate new accounts directly on your smartphone. The Ellipal hardware wallet also allows the direct exchange of cryptocurrencies due to its Shapeshift integration. This feature will enable you to convert all supported cryptocurrencies without having to leave your wallet.
Ellipal puts great emphasis on security which it achieves by employing a unique security framework which keeps the device and its funds isolated from any hacking attempts by using only QR connectivity.
By not having any kind of connection to the Internet, this prevents any hackers from infiltrating and having access to your crypto. The only way data can be transferred is via the microSD card slot.
Security is also enhanced through the implementation of multiple verification steps. In addition to the account password, you can also opt to set up a gesture password.
A recovery seed consisting of 12 random words, will be automatically generated during the registration process. This code will be used to backup the account in case you lose or damage your device.
- First, hold down the power button for several seconds.
- Select your language. English and other Asian languages are available.
- You will be asked to download the app for your system. Scan the displayed QR code or enter the following page http://wallet.ellipal.com/downapp.
- You will now be able to generate a new wallet, import an old one via a backup, or import only a private key.
- Select your account type based on the cryptos of choice.
- Set an account name and a password. Your password is required to be long and to contain both numbers and letters.
- The mnemonic seed of 12 words will be generated at this point. Write it down and store it somewhere safe.
- Link the app by scanning the QR code.
How much does it cost?
The Ellipal EC-01 can be purchased from its official website, Amazon and other retailers for $149 USD.
All wallets come with a 1-year warranty for subscriber units in addition to a 6-month warranty for its battery. The warranty can be claimed by contacting the company.
The Ellipal hardware wallet is a new breed of cold crypto wallets which completes all data transfers without the use of wireless or wired technologies. The wallet has no Bluetooth, Wi-Fi, or mobile network connectivity relying exclusively on the use of QR codes to connect it to another device.
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Source From : Coindoo News