ELLIPAL is one of the biggest Indiegogo success stories in recent times with the brand being the first to create the very first completely isolated hardware wallet. ELLIPAL promises to offer best-in-class security to cryptocurrency holders who want to invest in hardware wallets.
We all know the impact cryptocurrency has had in recent times with a large number of investors deep-diving into digital currency. But how do you keep all of your digital purchases secured with no central entity to keep your investment protected?
There are third party online solutions that let you put all of your cryptocurrency into cloud storage but there have been quite a few horror stories with such services being hijacked. This is where hardware wallets come in. They are completely offline and let you keep your cryptocurrency with you instead of relying on third party services.
What’s New in ELLIPAL's Hardware Wallet?
ELLIPAL’s cold wallet offering lets you take all of your cryptocurrency offline. A crypto currency hardware wallet is ideal for holders and frequent investors alike as you do not have to worry about your investment being hijacked. One of the biggest drawbacks of traditional hardware wallets is that they are complicated to use. ELLIPAL simplifies hardware wallet usage by making both connectivity and transactions app-based.
You do not need to connect the wallet to a PC to get access to your cryptocurrency. You make use of QR codes to authorize transactions and transfer your cryptocurrency to and from your hardware wallet. Since the wallet does not communicate with a PC at all, there is no chance of your wallet being compromised.
Mobile App Overview
So, you might be wondering if the air gapped hardware wallet does not connect to a PC at all, how does it work? The answer is very simple, everything you do with your wallet is enabled through the use of QR codes. There is a camera on the device that lets you scan QR codes to communicate with the app. You can download the ELLIPAL app for any Android or iOS device to transact.
ELLIPAL also included a touchscreen on the device to help users set up the device. Even though from the outside the hardware may look bulky compared to other hardware wallets, it is definitely much simpler to use. The setup process is also more seamless than anything we have ever seen till date from other manufacturers.
You get access to a pattern lock, password protection and more. In case someone tries the forcefully unlock your device, incorrect passwords being entered 10 times in a row will trigger a lockdown to prevent further attempts. You can then use your seed phrase to unlock your wallet. The wallet makes use of 12-word seed phrases which makes it highly secure.
The firmware update process does not require a PC as well. You simply plug out the included SD card and download the firmware to it before reinstalling it back to the ELLIPAL wallet. This lets you avoid connecting your hardware wallet to the internet no matter what.