ELLIPAL Hardware Wallet provides you up to 3 levels of security for your Bitcoin and other cryptocurrencies. This includes the screen lock password on the ELLIPAL device, the account password also on the ELLIPAL hardware wallet and the 2-factor identification QR code scan that you do with the APP.
Upon setting up the ELLIPAL hardware wallet, users who create a new account and set up a password will be given a set of recovery phrase consisting of 12 words (mnemonic words). The recovery phrase, as the name suggests, allow users to recover their account any time on the wallet.
Investing in cryptocurrency comes with great responsibility and you have made a good choice choosing the ELLIPAL hardware wallet. Here is a checklist to keep your ELLIPAL and your coins secure at all times.
Good Security Practice
- It is important to create a new account every time- Do not use an account somebody give to you. If an account already exists on the ELLIPAL that you do not know of, do not use it.
- Stay is a safe place when unlocking your ELLIPAL - Screen lock is the primary access to the ELLIPAL, don’t let someone see you unlocking your ELLIPAL easily.
- Make sure your password is hard to guess - Passwords give access to your accounts, be sure to use a password that only you know and do not tell anyone.
- Keep your ELLIPAL safe, away from thieves - If someone knows the access to your account, they will aim for the ELLIPAL. Keep the device safe from people you don’t trust. Consider using accessories like (https://thecryptocloak.com/product/ellipal/)
- Use Passphrase - pass phrases adds an extra layer of security to your account. Will be talked in more detailed in a future article.
Take care of your Mnemonics
- Never take a photo or screenshot your mnemonics - This is very important for every wallet users that come across mnemonics. Taking a photo or saving a screenshot means adding possible channels for getting hacked. With the addition of cloud back-up on every phone nowadays, it is easy for hackers to steal your mnemonics in your photo album. Always write it down, or if possible, memorize it all. A memorizing technique was mentioned in one of our last year’s reviews here: (https://news.bitcoin.com/review-ellipals-the-cold-wallet-2-0/)
- Double check what you wrote down! - Yes, this is indeed a common mistake that anyone can make. Writing down the wrong mnemonics can lead being unable to recover your account!
- Keep your mnemonics secure at all times - Don’t let anyone know about your mnemonics or where you keep them. We recommend using secure steel wallets like the ELLIPAL Metal Mnemonics to safely store your mnemonics. It is waterproof, fire proof, decay proof and with a lock, your mnemonics won’t be stolen easily. You won’t need to worry about it for a long time.