Steps for Getting Started with Cryptocurrency Trading on ELLIPAL - ELLIPAL

Steps for Getting Started with Cryptocurrency Trading on ELLIPAL

Keeping your cryptocurrency safe from potential hackers and maintaining a secure transaction without falling victim to network corruption and malware are among the biggest concerns faced by crypto users these days. With newer coins which are often fraudulent and often advanced, choosing the reliable coins and tokens as well as storing them safely in any crypto cold storage is really important. Being the first of its kind in the world, the ELLIPAL cold wallet with its air-gapped and metal sealed body can be your one-stop solution for cryptocurrency trading without relying on any additional device or connection.

Starting ELLIPAL Wallet And Mobile App

From sending and receiving coins to checking market quotes, from connecting with the Apps to keeping abreast of latest crypto news –the ELLIPAL mobile app and wallet make everything possible.
  • Setting Up Account

  • You can download the ELLIPAL app by turning on the hardware wallet, selecting language followed by scanning the QR code with your mobile. Once you have downloaded the app, click ‘next’ and create your account by filling up the information regarding account name and password.
  • Backing Up Mnemonics

  • One of the most important tasks now is to create backup of your mnemonics of twelve words so that even though the wallet is stolen, you can recover your account and cryptocurrency. Jot down the mnemonics somewhere safe because you cannot afford to lose mnemonics –it means you would lose your account and coins permanently. Under no circumstance, forget creating backup of the mnemonics or put wrong words. Once back up is complete, select currencies to store in the account and get new addresses made for you.
  • Importing Account

  • On your altcoin and bitcoin cold storage, go to boot menu, select language and click on ‘import account’ in case you don’t have a crypto account. If you already have an account, click on the account name and select ‘add account’. You can import by private keys by putting your key in WIF format along with account name and password or by Keystore where you have to enter Keystore details, password and set account name. In case of XLM and XRP, you can import account by entering the sectret key along with account name and password.
  • Connecting ELLIPAL Wallet With ELLIPAL App

  • On your ELLIPAL cold wallet, you will find the option of ‘connect to app’ on account details page and on the ‘assets’ section of your mobile app, you will find the ‘add account’ option. Scan the wallet’s QR code wit mobile to synchronize the account information. From the settings, you can set languages, set screenlock pattern and screenlock time and also check the firmware version of the wallet from the about section.
  • Sending And Receiving Cryptocurrency

  • To send cryptocurrency, select account from the app, click on ‘send’, add amount to be transferred, recipient address and mining fee and submit the information to get QR code. On the cold storage wallet, sign in to your corresponding account, scan the code and confirm your information. Finally, on the ELLIPAL app, scan the new code from the wallet and complete transfer. Similarly, to receive cryptocurrency, get your account address by selecting account, your assets and currency from the app and then click on ‘receive’. Now, copy the address from QR code and get the coins.
  • Exchanging Cryptocurrency

  • Go to ‘Assets’ section on the app, choose the currency (for example, bitcoin), go to ‘exchange’ and fill the details before clicking on ‘submit’. After confirming transaction address, scan the QR code with the offline bitcoin wallet, confirm the details and get the new QR code to be scanned with the app. You can add tokens from the app and coins from assets section on the wallet.
With a secure QR technology, the ELLIPAL hardware wallet and mobile app maintain a secure crypto system where your blockchain information and the private keys are safe from any tampering and can be transferred seamlessly without dependence on any wired or wireless connection. Network and device isolation backed up by IP65 metal sealed body has made ELLIPAL convenient, portable and secured.
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