Probably a lot of our readers have heard of the ELLIPAL hardware wallet. SmartCash is available on this wallet and users can also pay for it in SMART coins, which is great news! Let’s find out what is unique about this wallet and what features each crypto user will find useful for themselves.
First, tell us about the Ellipal mobile app, which is available for Android users. This is a non-custodial wallet that offers an increased level of security for users (since users save the mnemonic phrase during registration; and in addition, users can easily export private key). What features are available in the mobile application? Users who want to use the passive income function, for example, may not buy a hardware wallet, but simply use the app, right?
The mobile App itself is a mobile wallet. The features are the same just that your keys are not kept offline like in the ELLIPAL Titan Cold Wallet. Users are free to use passive income function on the App.
What’s unique about the Ellipal’s hardware wallet?
It can be concluded in a few main points:
- ELLIPAL is 100% air-gapped. It has no ports or connection components. Therefore, It can never be connected to any network or device. When your keys are inside the ELLIPAL, you know for sure that it will stay inside and isolated forever.
- ELLIPAL is built to resist against physical attacks. The system is built within a full metal casing which is strongly sealed to resist both dust and water. Due to how strongly it is put together, hackers will have a hard time getting inside the device. It’s not possible to break it open without leaving any scars on the device. Most importantly, it has Anti-tamper feature meaning once the system detects a breach, all information will be deleted. Your keys will be safe even if it gets stolen.
- ELLIPAL allows private keys import and mnemonics import from any of your other wallets. Very few wallets allows this. It totally understandable not to trust a wallet’s generated private keys, so we allow user to import their own trusted private keys.
- As you know, ELLIPAL uses QR codes. The QR codes are verifiable to not contain any important information. We have an open-source code on Github to prove this.
- Last but not least, it’s easy to use and full of features. It is mobile supported, big screen, allows exchange, hold all currencies under one account and so on. Users will have a great time using it. If they have issues, just shoot us an email or ping us on social media.
What are its advantages over other hardware wallets like Ledger or Trezor?
- Firstly, it’s connection free unlike others that still need USB or Bluetooth. This eliminates all security risks that comes with the connection despite having or not having secure element.
- All blockchains that we support are natively supported. No need to install any other software.
- Store all 32 currencies (as of Jan 2020) under one account and open multiple accounts. Things like this would require user to have multiple Ledgers wallet.
- Import your own private keys or accounts from other wallets. Other wallets doesn’t allow freedom to import like us.
- Resistant against physical attack. ELLIPAL Titan is made out of metal and physically very durable. It also has anti-tamper feature to protect you against hackers.
- It is true mobile/cold wallet solution. All coins and functions are supported on mobile. For Ledger X, only some coins can be used with the phone.
- If users lose their device, they can recover immediately to the ELLIPAL App which will recover your account as a hot wallet account. The recovery phrase system is the same so it will be seamless and you can easily send your coins to a new account. For other wallets, you will need to have a replacement and that takes time.
- Large screen makes it easier to double check your transaction, input longer passwords, enter recovery phrase and all the other good things that come with a nice, large touch screen.
- QR code makes things easy. It also allows users to scan and check the contents every time to make sure it’s not corrupted. For other wallets, the transaction is sent through the wire of bluetooth. One has no way to tell if its corrupted or not. The scanning process is manual too. The confirmation has to be done manually and never remotely.
Which features of your wallet are the most popular?
The main points in which people buy the ELLIPAL Titan are that it is 100% air-gapped, strong like metal and easier to use than other wallets.
You have the passive income function in Eliipal mobile app . Tell us more about it and why it is one of the actual functions in your wallet.
We aim to be more than just a wallet by adding decentralized finance functions. We want to make it like a personal bank that is not only safe but has all the functions you need. Right now, we only offer USDT products in which we hold on to your USDT and give interest in return. Soon, we will join hands with Celcius and provide a more complete list of products to our users.
After the release of version 1.3, SmartCash will also be available in the passive income section because of the SmartRewards feature. Can you tell us more about the integration plans, how easy it will be to activate this and earn passive income?
We are currently discussing with SmartCash team on how we will plan this out and make the process as seamless as possible for the users. Most likely, users will only need to send a small SMART transaction to activate the rewards feature and rewards will come automatically.
Thus, it will be a very attractive opportunity for users. Are you planning something “special” for the future?
As mentioned, we will be adding earning products from Celcius on to the ELLIPAL on top of the new SmartRewards feature. As for other things, we will keep focusing on adding more security features and optimizing our solution to be as seamless as possible. Apart from that, we are planning to launch our own line of POS soon. Our POS will accept both crypto and fiat and will be targeted towards shop owners worldwide. Currently we are looking for partners who want to hit the market with us and anyone is welcomed.