ELLIPAL Titan Wallet Review: The Best Cold Storage in 2022?
With legends such as the Trezor Model T and Ledger Nano X dominating the cold storage hardware wallet space, is there room for the Ellipal Titan Wallet?
In this article, we’ll be reviewing the ELLIPAL Titan wallet and seeing how well it holds up against the options already available.
What is the ELLIPAL Titan wallet?
The ELLIPAL Titan Wallet is an air-gapped hardware wallet that is safe from online and remote attacks. So what exactly is air-gapped. It basically means that there’s no network connecting the wallet with your device. All you do is scan the QR codes to approve transactions.
In the unlikely event that a breach is discovered, the private data in the cold wallet is automatically erased.
To sign all transactions, secure and verifiable offline QR codes are used. What’s more, you can import the private keys and accounts you have on other wallets.
Further Reading: ZenGo Wallet Review: Is Zengo Crypto Wallet Safe [2022]
Physical Dimensions of Wallet
Making the wallet safe from physical assaults is the IP65 dust and waterproofing. There is no way you can cause the wallet any harm without causing irreparable damage to its well-sealed metal shell.
The wallet boasts a 3.97-inch color touchscreen with superb graphics and high sensitivity. A side button can be used to turn it on.
The 118 x 66 x 9.7 mm cold wallet has an inbuilt 5mp camera and a 1400 mAh battery with a 259-hour standby duration.
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Which cryptocurrencies does the ELLIPAL Titan wallet support?
The ELLIPAL Titan wallet supports over 10,000+ coins and tokens. So, pretty much any coin you can think of is supported by the wallet. Find the complete list here.
What are some interesting features of the ELLIPAL Titan Wallet?
While the cold wallet has a lot of interesting features, here are some that make it worth considering:
Staking
By staking Tezos (XZT), Cosmos (ATOM), Polkadot (DOT), Cardano (ADA), and Kusama (KSM) from the app, you can generate passive income. In exchange for assisting the network’s functionality, the locked coins earn interest for you. The delegate you select for staking your coins with will determine how much interest you will earn.
Additionally, it enables cold staking, which lets you earn interest while keeping your funds secure in an ELLIPAL cold wallet.
Earning Interest
With the recently introduced Earning feature, you can earn from your ELLIPAL wallet. All you need to do is purchase finance products (which come at high annualized rates). Once it reaches the value date, you will start earning interest. You have the option of re-investing the principal amount automatically. But if you don’t select this option, you can have the principal amount sent back to the payment address. As of now, only USDT investment is available for this feature, but there are plans for expansion.
You can accrue interest with the following two options:
- 7 percent yearly return if you invest for 15 days
- 10 percent yearly return if you invest for 90 days
Exchanging Coins
Coins can also be exchanged for any cryptocurrency that is accepted. To give you the best prices and secure conversion, ELLIPAL has partnered with SWFT and Changelly. You must carry out these three easy steps:
- Select the crypto you want to trade
- Validate the transaction address
- Use a QR code to verify the transaction
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Buy Crypto
By collaborating with MoonPay and Simplex, ELLIPAL enables users to purchase cryptocurrencies directly from the app. To purchase crypto, you must confirm your identity. You can use Apple Pay, Visa, or Mastercard to make a purchase.
Is the ELLIPAL Titan Wallet secure?
ELLIPAL has no access to the internet at all. This alone safeguards the device from most attacks. There’s a microSD card slot provided for transferring data, and you can check every transaction that happens on the device. You can also create numerous passwords and passphrases to further bolster security.
If your wallet’s mnemonics are leaked, people can access it. So you need to store the mnemonic seedphrase safely. And that’s where the ELLIPAL Metal Mnemonics comes in.
Related Reading: Long Term Cryptocurrency Predictions
What is the ELLIPAL Metal Mnemonics Case?
The ELLIPAL Metal Mnemonics case is like a metallic suitcase measuring 86x60x8mm in size that you can use to store your hardware wallet’s mnemonics. It is mold-proof, insect-proof, fireproof, and waterproof.
The hardware wallet has support for both 12-word and 24-word mnemonics strictly adhering to BIP39 standard mnemonics. All you need to do is keep track of the first four letters of each word since they’re never the same. The BIP39 list can then be used to find out the remaining characters. So, keep the key safe and simply pull the letters together.
In which countries is the ELLIPAL Titan wallet available?
The ELLIPAL Titan wallet ships its products to all countries apart from the Democratic Republic of Congo, Brazil, Lebanon, Paraguay, Uruguay, Ukraine, Argentina, North Korea, Saudi Arabia, Central African Republic, Eritrea, Iraq, Libya, Iran, Sudan, Syria, Yemen, and Somalia.
What is the price of the ELLIPAL Titan Wallet?
The ELLIPAL Titan wallet retails at 169 USD but you can grab it for 112 USD on the official website. It’s not the cheapest cold wallet out there but if it meets your needs, it’s definitely something to consider.
If you’re looking forward to buying the ELLIPAL Mnemonic Metal as well (it doesn’t come with the wallet), you would be looking at shelling out an extra 49 USD.
Pros & Cons
Pros:
- It is user-friendly
- Transactions are air-gapped
- The hardware and software are secure
- Communication is done with QR codes (added security)
- It supports a lot of cryptocurrencies
- There’s no need for KYC
Cons:
- It is relatively new compared with the market-dominating products from Trezor and Ledger
- It is a bit on the expensive side
ELLIPAL Titan wallet vs. Trezor Model T
Priced at almost 300 USD, the Trezor Model T is definitely a lot more expensive than the ELLIPAL Titan wallet. The price is somewhat justified considering the fact that it has a touch screen and is developed by a high-profile team that has a remarkable history in the crypto space. That said, it is neither wireless nor resistant to physical attacks—both of which are features the ELLIPAL Titan wallet has to offer.
That said, the Trezor Model T does have a few features of interest that the ELLIPAL Titan wallet lacks. Its software is open-source and even has a dedicated desktop app. Moreover, it can be used for multi-sig wallets and can act as a password manager. It doesn’t rely on battery power and is relatively lighter and smaller.
ELLIPAL Titan wallet vs. Ledger Nano X
While Ledger and Trezor products clearly dominate the cold wallet market right now, ELLIPAL has a few cards up its sleeve.
The Ledger Nano X sports a 128 x 64px OLED screen compared to the ELLIPAL Titan’s 3.97″ color LCD touchscreen. The touchscreen on the ELLIPAL makes it considerably simpler to use and easy to read any necessary information, giving it a significant advantage over the Ledger. Naturally, it also enables your mobile device to display and scan QR codes. It takes longer to enter a PIN on the Ledger Nano X because you have to scroll through options using the two buttons.
Moreover, it supports almost twice the number of cryptocurrencies Ledger Nano X does.
Where the ELLIPAL Titan wallet lacks is the support for desktop PCs. While the Ledger Nano X can connect to Mac, Windows, and Linux PCs using a USB-C cable, the ELLIPAL Titan wallet simply can’t. There’s no way to connect it to your mobile phone via Bluetooth either (it can be a bummer for some).
Security is where the ELLIPAL Titan wallet wins—not only with the air-gapped connections but also with resistance to many physical accidents. Even if there’s brute force, your data is safe (more like wiped out, but at least not in the wrong hands). Ledger Nano X is built to the highest security standards as well but the ELLIPAL Titan wallet does better in this area.
They’re both priced the same, so it all comes down to your preference.
Related: Ledger vs Trezor
Conclusion
The ELLIPAL Titan wallet is one of the most secure cold storage hardware wallets for your crypto. But it comes at the price of the trusted and renowned Ledger Nano X. At that price, it all comes down to the features necessary for you to trade safely and easily.
With this article, we’ve reviewed the ELLIPAL Titan wallet. Happy trading!
