In my quest to test and try as many hardware wallets as possible, i stomped across the Ellipal wallet.
The idea behind this wallet is simple: to have a device connecting to an app through QR codes only.
Basically, it means your cold storage is isolated from any internet connection.
Another particularity is that you can track multiple exchange data and have access to real-time market information through the application.
A clean compact black cardboard box similar in size to iPhone’s packaging. Crypto companies are now looking after details and we appreciate it.
The box includes:
- usb power cord
- manual guide
- recovery sheet
How does it work?
The device will never be connected to the internet. Any single action that requires a confirmation will be processed with QR codes. Thus, there is no need to pair the app with the hardware wallet via Bluetooth or Wifi.
It supports many coins as listed below. In case your coin is not supported yet, you can still submit a request to customer support.
The app is compatible with IOS and Android.
Starting with the wallet
The first thing you have to do once you get your Ellipal is to set it up. You can follow the steps shown in this video.
Receiving funds is easy and requires 2 quick steps.
1) Select the coin you want to receive. You can do it either on the Ellipal device or using the app. Click on “Receive” to see your public key. You have now access to your public key and are able to share a QR code. If , for any reason, you need to copy paste the key to share it, using the app is the only option.
2) Once the transaction was processed and confirmed, you can check the balance of your account on the app. The amounth held in FIAT will be live-displayed and pegged to the exchange of your choice.
1) If you want to send funds, first, you need to select the coin you would like to transfer. Then, you have to select the “send option”. Fill the blanks (amount, recipient address, fees).
2) Something interesting with this app is that you can register a recipient address and create a contact so you won’t have to type it manually or scan it in the future.
3) The last part of the process is to submit the transaction. When choosing fees level, be aware that setting them too low might significantly extend the delay of transaction. In the case of an Ethereum transaction, it could run out of Gas if you select the lowest fees option
4) Good job! Your transaction is now confirmed.
The Ellipal wallet is a nice alternative to many other wallets. Since the device doesn’t have any physical connection to the internet, it is only used to hold the private keys and the synchronization with the app is made through QR codes. Level of security is pushed to another level.
The price for 1 wallet is $149 or you can get 2 for $248. For reference, it is positioning between the Trezor model one and Trezor model T.
If you need more info about the product, you can check the website here.
Disclaimer : this article is not a partnership. I asked the team if they could send me a piece so i could test it and give you my unbiased opinion. If i had to partner with anyone it would be disclosed.