Ellipal Review – Is This The Most Luxurious Crypto Wallet?
If you’ve kept up to date on our wallet reviews and other crypto guides, you’ll know the story already.
We have already gone on and on about the fact that your crypto is only as safe as you can keep it. Hackers and scammers are highly prevalent on the internet and they are out for your money, or in this case, crypto.
This is why we highly recommend that you keep your crypto safe and to yourself. The best way to do this is by using a wallet that provides you with control over your private keys.
If it is a crypto hardware wallet, even better! In the past, we’ve already covered a bunch of hardware wallets but today, we’re covering a new one with this Ellipal review.
This time we’ll be looking at the features that you can expect from Ellipal. We’ll also cover what makes this wallet stand out from the others and why you might want to consider it.
In general, when we’re looking at hardware wallets, we have a series of aspects that we like to go over. In this Ellipal review, we’ll be looking to answer the following questions:
- What is the Ellipal hardware wallet?
- Who is the manufacturer of the Ellipal wallet?
- What are the Ellipal wallet’s technical specifications?
- How does the Ellipal wallet work?
- What cryptocurrencies does the Ellipal wallet support?
- Does the Elliptical wallet charge fees?
- Does the Ellipal wallet offer good customer service?
- What features does the Ellipal wallet offer?
- Is the Ellipal wallet secure?
With all these concerns answered, you should be in a good state to see if Ellipal does meet your expectations. Is it able to compete with today’s hardware wallet market or should you be looking elsewhere? Let’s get this party started.
What is the Ellipal Titan Hardware Wallet?
The Ellipal Titan is the Hardware wallet designed by Ellipal. Now if you’re still unaware of what a hardware wallet is, you may feel like checking out this article. We will however be giving a quick rundown of the technology behind hardware wallets here in case you just need a refresher.
When you’re buying cryptocurrency, your crypto is stored on the blockchain. What does happen is that you own the private keys that make the crypto yours.
While an exchange will keep your keys safe for you, you are only in control of your crypto if you hold the keys yourself. An exchange’s wallet will not give you control over your private keys, while a third-party crypto wallet does.
While there are software devices that do this quite successfully, there is nothing better than a hardware wallet. The benefit of the latter is that they will keep your private keys offline. Thus nobody with an internet connection can even try stealing your crypto from you. If they can’t connect to it, they can’t take it.
The Ellipal Titan is one such hardware wallet. Although it’s a newer model compared to other wallets in the crypto space, it has quickly gotten a strong reputation.
What makes it different from other wallets is how secure it is from both physical and computational attacks. This is what makes the Ellipal Titan a true Cold storage option and not just any hardware wallet.
Ellipal, The Company
Now let’s look at who built the Ellipal Titan. One thing that has to be considered when looking at a wallet is who makes it. Your wallet is only as trustworthy as the manufacturers are, after all.
Unfortunately, the company does not seem to be too willing to share much information about itself.
What we know is that they are a Hong Kong-based company that started running in 2017. Their ‘About Me’ page is limited to one paragraph and they haven’t provided many details elsewhere.
Other resources you would usually look for such information also do not come up with much. Their LinkedIn is limited to a sample of the same generic paragraph that we found on the about me page.
This all does make the company seem a bit sketchy. Usually, you would be looking for a company that seems to be actively participating in the crypto community.
However, this does not seem to be much of a case here. That is a bit of a downside compared to the competition that is well known in the community.
That being said, the wallet itself is well known in the crypto community and seems to have provided most of its users with what it promises. We might not know much about the company… But we know its product.
Ellipal’s Technical Specifications
Now, company aside, let’s take a look at what you can expect when buying an Ellipal Titan?
Well, you’ll be happy to know that the hardware wallet is fully metal-made and air-sealed. This does give it a nice and solid feel when you’re handling it. The fact that it’s aluminum gives you the feeling that you’re holding something safe and secure. What can we say? We love great design!
Security is exactly what the company promises with the wallet.
The Ellipal Titan is built so that it cannot be disassembled or otherwise physically tampered with without leaving lasting damage. Should your device however somehow be broken into, then an anti-manipulation feature kicks in. This will destroy all your private keys as soon as the break-in is detected.
That means that your private keys would remain secure even if the device is tampered with.
In terms of size, the Ellipal Titan is a bit larger than the competition. The device measures 118 x 66 x 9.7 mm and weighs around 138 g. This does make it a little larger than the likes of the Ledger wallets but it’s still small enough to be able to fit in your pockets.
The screen, which covers the front of the device, is a 100 mm LCD screen. On the backside, you’ll be able to find a camera that’s used to read the QR codes. In terms of battery life, you’ll get a 1400 mAh battery in the device. According to the manufacturer, this should be good for 259 hours of standby usage.
Other things that you do get with the wallet are:
- A quick start guide to get you started
- A Security Adapter, that you need to connect the device for charging
- A memory card is used to update the firmware
- A USB charging cable to charge it
- Two Mnemonic Papers are used to write your recovery phrases on
How Does The Ellipal Work?
So now that we’ve gotten our wallet, let’s take a look at the set-up process.
Using your Ellipal Titan does require that you get the Ellipal app for your smartphone. Once you’ve downloaded the application, you’ll have to create your account. This is done over the wallet itself. You hit “create account” which will prompt you for an account name and a password.
As it creates the account, you’ll then be presented with your mnemonic words. These words are crucial for the recovery of the account should your wallet be lost or destroyed. Remember to back these up and store them in a safe place.
Once you’ve confirmed the mnemonic words, you need to pair the app with your hardware wallet. This is done by scanning a bunch of QR codes displayed on the wallet and should pair the devices. The app can then be used as a hot wallet with your Ellipal Titan as the cold storage.
Do note that you also have the option of recovering an old account with an old mnemonic. You can set up multiple different accounts on the same wallet. This allows you to have different accounts for different uses all on the same device.
As we previously mentioned, the Ellipal is fully air-gapped. While other wallets like the Ledger have you connecting your device via USB or Bluetooth, the Ellipal does not.
The wallet relies entirely on QR codes to transfer data. You can’t connect it via USB or Bluetooth which ultimately are ways of attack.
When you create a transaction, you will generate a QR code that is displayed on the Ellipal App. This is then scanned by the wallet which can then sign the transaction. After that is done, the wallet generates another QR code that you need to scan with your cell phone.
This additional step gives the wallet an added measure of security. Any person that tries to make a transaction would need access to both your phone and the hardware wallet in order to complete it.
What Cryptocurrencies Does Ellipal Support?
When looking at supported currencies, we’re not left lacking. We’re happy to see that you can hold most of your cryptocurrencies on the same device. At this time, Ellipal supports 41 different blockchain networks and over 10,000 different cryptocurrencies.
Among these are the big names like Bitcoin and Ethereum to smaller market cap coins you may be holding.
You can see the full list of supported coins by visiting https://www.ellipal.com/pages/coin-list.
This means that even if you’re holding some niche altcoin, you should be able to have it in your Ellipal. On top of that, even if your niche coin isn’t held at this time, you can just wait and see as new assets are added every week.
Does Ellipal Charge Fees?
Just like any other hardware wallet, you do need to pay to use the device’s features.
At this time, you can buy one for $169.00 which is on the higher end of the spectrum. While it’s not as cheap as some, the price is what you can expect at the higher end of the market. The variety of different features that it provides and the solid aluminum frame do justify the cost.
Making transactions on the app will cost you the standard network fees that you always have to pay with any crypto wallet. These are however not charged by Ellipal but by the network itself. When making a transaction you are suggested a gas fee to pay.
Depending on how quick you want the transaction to go through, you can modify this accordingly if the network supports such a feature.
Ellipal does also offer the option of buying crypto directly on the application through their partners Simplex and MoonPay. This service will cost you a fee as is usually the case and can be quite significant.
As the fee depends on the provider and the count, you will need to check it out at the time of using the feature. However, it may be worth it to check out a more dedicated exchange for the lowest fees.
Is Ellipal’s Customer Support Good?
If you are having issues with your Ellipal, you may need to check out their support page. This comes with a user’s manual that adresses the most basic concerns regarding shipping and warranty.
The site also has a basic FAQ page that addresses the most basic questions that you may have.
That being said, they do offer customer support over chat and email over email@example.com. In terms of customer outreach, they are on all social media and have a blog page that is regularly updated with interesting information.
The support page that they provide does seem a little lacking when compared to the rest of the wallet space. This does mean that you do need to rely on other sources for help if your issue goes beyond the basic concerns and you don’t want to go straight for the chat or email option.
What Features Does The Ellipal Offer?
Now that we’ve addressed the customer experience, let’s go to the next section of the Ellipal review. Let’s take a look at what features we can expect from the Ellipal wallet.
For one, the hardware wallet is an excellent place to store your cryptocurrency offline and inaccessible.
On top of that, you can find other features available to you. The Ellipal wallet supports cold staking. This lets you earn interest simply for having the coins you would already be holding. All this is done, while still stored securely in an air-gapped environment.
Another option available to Ellipal owners is WalletConnect. This is in essence an integration platform that connects your wallet with Dapps. This gives Ellipal users the ability to interact with the DeFi world directly with their Ellipal wallet.
The Ellipal application also provides other options to its users. For one, the same provides real-time charts and prices across multiple markets. Additionally, you can convert coins directly on the same platform thanks to the partnership with both Changelly and SWFT.
Lastly, as we previously mentioned, you can buy crypto directly over the application. Do note that we usually recommend that you check the fees beforehand. You may find better deals elsewhere.
Is the Ellipal Secure?
Moving to the main selling point of the Ellipal wallet, let’s cover its security in finishing this Ellipal Review.
First things first, the Ellipal is a fully tamper-proof hardware wallet. It cannot be opened or otherwise broken into without suffering significant damage. Even if that happens, the device has a security feature that wipes the private keys should tampering be detected.
On top of that, the Ellipal is fully air-gapped. As previously mentioned, the device never has a connection with the internet and can thus not be accessed by malicious hackers. Even updating the firmware is done entirely over an SD card.
Now if you do not trust the Ellipal company, rest assured. They follow the ‘Trustless trust’ policy. Ellipal’s QR codes are open data format. These are entirely public, verifiable, and offline. This means that you can verify what is being transferred through the QR codes. No need to trust, you can check the security yourself.
This all makes Ellipal one of the more secure wallets out there. The fact that it’s air-gapped makes it a great option for the more security-conscious traders.
We’ve come to the end of our Ellipal review. A hardware wallet is an excellent option for any trader that is looking to keep their coins in cold storage.
There are some places where the wallet does find itself lacking though compared to other offerings. For one, the price. Paying $169 for a hardware wallet is on the steeper side. This will shy away those that are not going to be holding that much in their wallet.
You would not spend that much if you’re just looking to store a few hundred in crypto. Other cheaper options would be the Ledger Nano S or the ShapeShift KeepKey.
The second aspect of concern is the lack of documentation. While this is not necessarily a deal-breaker, you would want to be assured that you can find help if needed.
An Ellipal wallet is a great option if your main concern is security without compromising on coins held. It’s a great option for you should you be looking for long-term storage.
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