Ellipal Wallet Review: The Best Hardware Wallet in 2024?

Ellipal offers some of the top hardware wallets on the market today. Our Ellipal wallet review will uncover just what makes these wallets so good, including their industry-leading security standards and support for over 10,000 assets.

In this Ellipal cold wallet review, we go through the important features that make these the best hardware wallets you can get.

What Is Ellipal?

Ellipal is a Hong Kong-based company that has been building hardware wallets since 2019 when they created the “Cold Wallet 2.0”. This was an air-gapped cold wallet, meaning no wireless or wired connection could potentially be exploited.

Since then, the company has created two cutting-edge cold wallets: the Ellipal Titan 2.0 and the Ellipal Titan Mini. Both are non-custodial hardware wallets where you have full control over your private keys. Since 2022, Ellipal has been ranked as one of the top 3 hardware wallets by Forbes.

Use ELLIPAL&CLICKOUT code at checkout to get $20 off on all Titan series cold wallets, including bundles. Does not apply to accessories.

What Cryptos Does Ellipal Wallets Support?

Our Ellipal wallet review found that these two cold wallets support over 10,000 coins and tokens on 40+ blockchains, including the best cryptocurrencies like Bitcoin, Ethereum, and Solana. All the thousands of tokens created on these blockchains, such as PEPE, BONK, WIF, JTO, and JUP, are also supported.

Moreover, NFTs minted on these blockchains can be easily stored on the Ellipal crypto wallets. By connecting to NFT marketplaces, you can seamlessly trade these digital assets. And if for some reason you can’t connect your wallet via WalletConnect, add your hardware wallet in MetaMask to directly connect to DeFi apps.

Ellipal Wallet’s Pricing & Fees Explained

Ellipal has created two hardware wallets: the Titan 2.0 Cold Wallet and the Titan Mini Cold Wallet. Both serve the same purpose of protecting your digital assets, and both have the same features, including:

• Dual-layer defense with CC EAL 5+ Secure Element chip.
• Fully air-gapped without Bluetooth, WiFi, or USB connection.
• Anti-disassembly and anti-tamper technology.
• Supports 41 blockchains
• Over 10,000 coins and tokens are supported.
• Touchscreen and a companion mobile app.
• Offline firmware update via MicroSD card.
• Two-factor authentication and a secret secondary wallet option.

The main differences between the Titan 2.0 Cold Wallet and the Titan Mini Cold Wallet are the price – $169 vs $99 – and the screen size.

The Titan Mini is a smaller and more compact version that weighs 100 grams, and you can carry it easily in any pocket. However, the Titan 2.0 boasts a larger screen. The choice between the two boils down to both price and preference.

Is Ellipal a Safe Cold Wallet?

Even though crypto theft dropped by 50% in 2023 compared to the previous year, hacking remains a serious threat. Ellipal offers some of the safest cold wallets you can get. From anti-tampering to fully air-gapped, you’ll rest assured that no one can touch your digital assets without your approval.

Fully Air-Gapped

The Ellipal wallets are fully air-gapped, meaning no connection between the wallet and your smartphone or desktop can be exploited, such as Bluetooth, WiFi, USB, or other networks.

Other hardware wallet providers use either Bluetooth or USB connection to approve transactions. Ellipal uses a camera that scans QR codes to approve transactions. Here’s how it works:

1. You get a QR code on your smartphone app.
2. Scan the code with your Ellipal wallet to approve it.
3. Another QR code will appear on the Ellipal wallet screen.
4. Scan the QR code with your smartphone app.

With the touchscreen on both Ellipal wallets, you see the transaction details to ensure you’re sending funds to the right wallet address.

When you need to update the firmware, use a MicroSD card. This removes the need to connect to a computer to make the updates, which hackers could potentially exploit if they have malware installed on your computer.

Even the wallet charging doesn’t have a USB port. Instead, the Ellipal wallet charges its battery via a magnetic connector.

With hackers stealing over $1.7 billion in 2023, having an Ellipal wallet will keep you out of this statistic.

Anti-Disassembly and Anti-Tamper

Compared to the largest hardware wallet competitors, Ledger and Trezor, whose devices are made mostly of plastic, the two Ellipal Titan wallets are built like tanks. Being made of one solid piece of metal with the screen sealed with IP65-rated dust- and liquid-proof seal, it will be challenging for anyone to disassemble the devices.

If there is such an attempt, it will leave obvious scratches and cracks, showing someone attempted to open it – and you will know it.

The anti-tampering feature is unique, and it protects your Ellipal cold wallets against a Supply Chain attack. This can happen if someone gets their hands on your hardware wallet before you can get it – say, a handler in the shipping company.

Normally, in this situation, someone can get your hardware wallet, install malware, or modify the wallet to steal your crypto. The Ellipal wallets have no connection ports whatsoever, meaning they would have to find another way to access the wallet.

However, the Ellipal wallet automatically deletes the data on the device in case of a breach, making the wallet useless. When the tampered wallet reaches your hands it will be broken, thus protecting you from potential exploits.

Two-Factor Authentication and Secret Second Wallet

These two features are crucial in protecting your wallet against theft because for someone to steal your assets they will first need to pass through the 2FA protection.

Your options include a PIN and password entry to unlock your device. But let’s say you’re somehow forced to unlock your cold wallet so that the attackers can see your funds and transfer them to their wallets.

In that case, you can use a secret second wallet. This alternative account appears on the screen when you unlock your wallet with an alternative password. You can store a small amount there, and the attackers won’t know that this is not your primary wallet where you store all of your digital assets.

All of this should put the question “Is Ellipal safe?” to rest.

Is Ellipal Wallet User-Friendly?

Our Ellipal Titan review found that the two wallets boast an intuitive user interface – almost like a smartphone – catering to novice and experienced cryptocurrency users. Setting up the wallet and signing transactions is a straightforward process where you simply follow the instructions (connect to a cold wallet or add a hot wallet) on the screen.

The Ellipal Titan Mini Cold Wallet has a smaller touchscreen than the Titan 2.0. But that shouldn’t be an issue, given that you can connect to the ELLIPAL APP and manage your account from there, using the physical wallet to approve transactions. Also, regardless of having a smaller screen, the keypad is of the same size as the Titan 2.0 Cold Wallet.

There are over 280 5-star customer Ellipal wallet reviews on the Ellipal website where satisfied customers praise the Ellipal cold wallets for their simplicity and safety.

Main Features of the Ellipal Wallet

The Ellipal hardware wallets pride themselves on their security features. When a competitor hardware wallet suffered a hack, Ellipal users had no issues. However, other features are worth mentioning in any Ellipal wallet review, such as the companion mobile app, integration with DeFi apps, and its main feature – safely storing your crypto assets.

Cold Storage

The main feature of the Titan wallets is the cold storage. This means the keys to access your wallet are held offline, making it impossible for hackers to steal your assets if they compromise your desktop computer or smartphone.

Because the private keys, also known as a seed phrase, are the only way to access your assets if your wallet is damaged or stolen – you must write them down on paper and keep them safe. Never take pictures of your private keys, and never write them down on your computer.

If you lose your Ellipal device or if it’s damaged, buy another Ellipal wallet and import the seed phrase to regain access to your cryptocurrencies.

Companion Mobile App

To seamlessly interact with smart contracts and decentralized apps, you need the companion app called ELLIPAL APP. Our Ellipal review found that with the app, you can:

• Buy crypto via third-party providers like Moonpay, Simplex, and Banxa through Visa, Mastercard or Apple Pay.
• Switch between asset address types according to your needs.
• Swap coins from various blockchains, say BTC for ETH and vice versa, via Changely.
• Stake ADA, ATOM, XTZ, DOT, and KSM coins to earn passive income.
• Connect to dApps via WalletConnect or MetaMask to swap tokens, yield farm, stake, play games, trade NFTs, and more – QR scan connecting is enabled as well for ease of use.

Your ELLIPAL APP can also serve as a hot wallet if you don’t want to connect your Ellipal hardware wallet. Or you can use both hot and cold wallets – one as a burner wallet to interact with various dApps and the other as a safe for storing your valuable assets.

The app is needed for signing transactions. It will show a QR code on the screen that you need to scan with your Ellipal wallet. The wallet will show another QR code after you sign the transaction, and then you scan the new QR code with your smartphone.

Multi-Chain Support

Unlike some hardware wallets that support only Bitcoin, the Ellipal Titan wallets support over 10,000 coins and tokens on various blockchains.

This means you need only one Ellipal wallet to store your Bitcoin, Ethereum, Solana, Cardano, or store meme coins and play-to-earn gaming tokens all in a single wallet.

By using the ELLIPAL APP you can directly swap your tokens from various blockchains with competitive fees. If you think you’ll find a better conversion rate, connect your wallet to a DeFi app like Uniswap for Ethereum tokens, PancakeSwap for BNB Chain tokens, or Jupiter for Solana tokens, and make the token swap yourself.

Ellipal’s Customer Support

Ellipal boasts efficient customer support that you can reach via email at [email protected]. For any questions you have about orders, shipping, returns, account help, and products, this is the best way to contact the team.

Otherwise, there is a support center with resources and answers to commonly asked questions.

On Trustpilot, customer Ellipal reviews praise Ellipal’s customer support and how they efficiently solved their issues, such as recovering lost coins, recovering an account from a forgotten password, and more.

How to Get Started with Ellipal Wallet

After you’ve purchased and received your Ellipal device, setting up your hardware wallet is a straightforward process. Our Ellipal wallet review shows how:

Step 1: Download the ELLIPAL APP

Download the app from the Ellipal’s download page or scan the code below to take you to the download page.

Note: If you are already a user of the Ellipal app and want to upgrade it to the latest V4.0.0 version, follow the update guide at the bottom of the article.

Step 2: Create or Connect to Wallet

You will initially be greeted with two options, namely:

• Connect to Cold Wallet: use this option if this is your first time using an Ellipal wallet. Fill out the required information, such as account name and password.Setting up your passphrase at this point is optional; however, we recommend you set it to active for added protection. You’ll need this phrase to recover your account, so don’t forget it.

  You’ll also now receive your seed phrase. These 12 randomly generated words are required to regain access to your account if your wallet breaks or is lost. Write them down on paper and keep them somewhere safe.

• Add Hot Wallet: use this option if you want to add a hot wallet to your Ellipal.

Step 3: Verify Your Private Keys

Enter the private keys to verify that you have written them correctly. This will create your account and you can now start using it.

From the dashboard, you can click the pairing icon to pair the Ellipal APP with your Ellipal device. On the Ellipal device, you can select “Assets” and then “Add Account” or “+.” You’ll be guided through the pairing process. This will require you to use the app and the device to scan QR codes on each other.

Step 4: Select Coins

Select which coins you would like to store in your wallet. You can select all, but it will only clog up your screen if you don’t use them.

Step 5: Buy Crypto

If you don’t have any cryptocurrencies, you can buy them directly on the app. Select the “Trade” tab at the bottom and then select “Buy.”

Step 6: Swap and Stake

Within the same “Trade” tab, you can also stake and swap cryptocurrencies from various blockchains.

Alternatively, use the “Discover” tab to see supported apps and use other swapping and staking services. There’s also the option to use WalletConnect or MetaMask to connect to other DeFi apps that aren’t directly supported within the app.

Updating Ellipal App to V4.0.0

As mentioned above, active Ellipal users may be looking to update their app to the latest V4.0.0. Read below for an in-depth, step-by-step process.

Step 0: Before Updating

Check the version of your Ellipal cold wallet:

1. Select the “gear icon” for “Settings.” 
2. Select “About.”
3. Check ELLIPAL’s version.

Titan 2.0 versions begin with “Titan 2.0,” Titan’s begin with “EC02,” and Mini’s begin with “MINI.”

Step 1: Format Micro SD Card

In order for the update to work, your Micro SD card must be formatted to FAT32: 

1. Prepare a card reader and an SD card (8/16/32GB).
2. Make sure you’re using a desktop/laptop computer connected to a card reader.
3. Download or copy the zipped update file directly to the SD card and ensure only one zipped file with its name unchanged is kept on the SD card.

Important Notes:

• It is crucial to keep the zipped file’s name unchanged: Ellipal_titanplus_v4.0.0.
• Be vigilant, as your system might automatically alter the file name by adding “(1)” if the file is downloaded more than once by mistake.
• For Mac OS users, we recommend using Google Chrome to download the upgrade file and make sure it stays unzipped. The preferences within your browser (Safari, Chrome, etc) must be set to “stop automatically unzipping downloaded zip files” for the updated file to be extracted properly.

Step 2: Insert the SD Card and Plug in the Adapter

1. With just the adapter, insert the SD card into it.
2. Plug the original charging cable into the adapter (ensuring it is connected directly to a power outlet, not a computer).

Important Notes:

The adapter light must be blue after inserting the SD card to indicate it has read the card properly. If the light is green, try removing and reinserting the SD card repeatedly, or try another SD card or adapter.

Step3: Update the Software

1. Turn off your Ellipal device.
2. Put it on the charged adapter, and the device will be turned on automatically.
3. Select “gear icon” for “Settings.”
4. Select “Update.” The Ellipal Titan 2.0 should recognize the update file on the SD card, and the blue light will start flashing.
5. It will automatically extract the update file. Please wait and never disconnect the adapter. This process may take up to 1 minute.
6. Once extraction is complete, a new interface will appear. Select “Start Update.”
7. Wait about 2 minutes for the update to finish.

Important Notes:

The Ellipal Titan 2.0 may turn on and off during the process. Please don’t worry and do not touch it.

Step 4: Double-Check to Prevent Upgrade Failures

1. Format the SD card to FAT32 (Allocation unit size to 32kb).
2. Ensure the SD card is emptied and contains only one zipped update file.
3. Fully insert the SD card into the adapter and check that the light turns blue.
4. Charge the ELLIPAL device with a power outlet during the update.
5. Insert the prepared SD card first, then plug in the adapter, and finally, place the turned-off device on the adapter.
6. Download the correct update file.

Conclusion

So, is Ellipal a good wallet? Our Ellipal hardware wallet review found that it offers some of the best hardware wallets you can get in 2024. Whether you choose the Ellipal Titan 2.0 Cold Wallet or the Titan Mini, you get fully air-gapped operations, anti-tamper and anti-disassemble features, a secure chip to keep your seed phrase offline, and a two-factor authentication to unlock your device.

The Titan 2.0 costs $169, and the Titan mini costs $99. However, you get $20 off with the code ELLIPAL&CLICKOUT at checkout. The discount applies to Titan wallets and bundles but does not apply to accessories.

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