Ellipal Hardware Wallet Review

  • mobile mobile oriented hardware wallet, no computer required
  • user-friendly operation thanks to the color touch screen
  • supports various cryptocurrencies
  • smartphone app with additional useful features

 

ELLIPAL Review 2019

ELLIPAL is a mobile oriented hardware wallet that works completely isolated from the Internet. All you need is a smartphone with the ELLIPAL app and the device itself. How accurate and how good this works, you will find in the following review.

First Impression

The hardware wallet is available at a price of 149,00 $ (click here to check the current price) directly at the manufacturer. There are additional charges for shipping. Paypal and various cryptocurrencies are currently available as payment options.

The device is sent in a small black box, which is sealed in foil and is protected by two seals. If these seals are already broken, you should not use the hardware wallet and contact the support team! The wallet may have been tampered with.

Contents of the Package

In addition to the hardware wallet, a USB charging cable, a guide, a warranty card, two stickers and a note for writing down the backup are included in the scope of delivery. All parts are surrounded by a layer of foam, so everything is securely packed for delivery.

ELLIPAL looks like a cheap smartphone: It is 119x64x10mm large and has a 4 inch large color touchscreen. The casing is grey plastic. According to the manufacturer, the battery inside should hold 650 hours in standby mode and is fully charged in 90 minutes. On the back there is a 5MP camera for scanning the QR codes and a power switch on the right side. The USB port on the top is intended for loading only and data exchange is not possible. However, on the back under the cover is a microSD card card slot to perform updates.

Setting up the ELLIPAL Wallet

Thanks to the relatively large colour touch screen and the intuitively designed surface, the set up is very straightforward. To set it up, you start the hardware wallet by holding down the power button for a few seconds. The process begins with the selection of the language. In addition to English, there are some Asian languages available. Next you will be asked to download the iOS or Android app. To do this, either scan the displayed QR code or visit the page: http://wallet.ellipal.com/downapp. You can then create a new wallet, import an old one via a backup, or import only a private key. Since this device is to receive a new wallet, a new account will be created. You will then be asked for the account type, where you can choose from different cryptocurrencies. After the selection of the coins you set an account name and a password. A sufficient long password with numbers and letters is required.

Finally, the backup of the account is followed by 12 words, the so-called recovery seed. For each account – with the latest version – you only need one recovery seed. Before the process starts, you have to confirm by selecting three checkboxes that you have understood what the backup is for. Then you will see 12 words that you have to copy. A bit annoying is that every 15 seconds the display switches off automatically, which interrupts the copy over and over again. This time can be changed later in the settings.

After that, all the words are displayed again, which must then be placed in the correct order. This ensures that the backup is correct. This means that the account is available on the hardware wallet. But to be able to use all the features, the account must now be linked to the app.

To do this, select the account and click on “Connect App”. A QR code is displayed, which is scanned with the app on the smartphone. This makes it possible to display the balance of the wallet on the mobile phone.

Handling

For everyday use, both the hardware wallet and the app are required on the smartphone. Because the ELLIPAL hardware wallet now securely contains the private keys of the accounts, while the app has access to the Internet. The exchange between the two devices takes place exclusively via the camera by scanning each other’s QR codes.

For example, to send a transaction out of this hardware wallet, the transaction must be ordered through the smartphone app. The app then generates a QR code that contains all the information of the transaction. Now you have to select the appropriate account on the ELLIPAL hardware wallet and select the Sign button. After entering the account password you have the possibility to scan the QR code from the app. The hardware wallet signs this transaction with the private key and also generates a QR code, which in turn needs to be scanned by the app. This allows the app to send the transaction to the appropriate network.

More Features of the App

In addition to executing transactions through the hardware wallet, the app also supports other useful functions.

In this way you can view the market situation of various coins directly in the app, read current news from the area of cryptocurrencies or manage addresses via the profile tab. In addition, you can manage not only accounts of the hardware wallet, but also create accounts directly on the smartphone. Of course, these are less secure than those of the hardware wallet, but you avoid the scanning of the QR codes. Another feature of the app is the direct exchange of cryptocurrencies. This feature allows you to swap all supported cryptocurrencies directly within the app. The fees are directly included in the exchange rate and the exchange is settled according to ELLIPAL via Shapeshift.

Compatibility

Since Ellipal is a mobile oriented hardware wallet, it can be used on the following platforms:

  • Android
  • iOS

The following cryptocurrencies are currently supported, with continuous work on additional coins:

  • Bitcoin
  • Dogecoin
  • Ethereum Classic
  • Bitcoin Gold
  • Stellar
  • Zcoin
  • Tron
  • Decred
  • Bitcore
  • Bitcoin Diamond
  • Groestlcoin
  • TRC20 Tokens
  • TRC10 Tokens
  • Litecoin
  • Dash
  • Ripple
  • DigiByte
  • Tether
  • CyberMiles
  • Ethereum
  • Bitcoin Cash
  • ERC-20 Tokens
Firmware Update

In order to always be up to date with the hardware wallet, an update of the firmware is possible. This ensures compatibility with the latest cryptocurrencies. Since the only data interface is the microSD card slot, the current firmware must be downloaded from the manufacturer’s page and copied to the SD card. A firmware update can be made via the settings of the ELLIPAL hardware wallet. The firmware 1.5.2 is up-to-date at the time of testing, but a new version with more cryptocurrencies and better account management is already being worked on.

Documentation and Support

ELLIPAL comes with a small manual that guides you through the most important steps in English. There is also a small knowledge base on the official homepage that answers the frequently asked questions. If you have further questions, you can also reach the support team via the homepage.

Security

As a hardware wallet manufacturer, ELLIPAL naturally places great value on security. To achieve this, ELLIPAL has developed a unique security system that protects the user from hacking attempts while also providing mobile support.

An essential part of this is that ELLIPAL does not have any physical connection to the Internet. The only data transfer interface is the microSD card slot. Another point is the multiple verification steps. In addition to the account password, there is also the possibility to set up a gesture password. However, ELLIPAL is still a new company, which does not yet have any analysis of the hardware and software.

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