ELLIPAL Review: Is It Worth It?
ELLIPAL Review
Is ELLIPAL a trustworthy company? Is ELLIPAL Titan safe? In this ELLIPAL review, we'll go over all of ELLIPAL's features, we'll go into its history and background, we'll analyze its pros and cons, and we'll find out whether or not this is a serious contender for the best cold storage wallet in the crypto market today!
Background And History
ELLIPAL Limited is a blockchain technology company focused on cryptocurrency safety and blockchain service facilities founded in 2017 and headquartered in Hong Kong. ELLIPAL produces the most secure hardware wallets. The ELLIPAL Titan cold wallet is one of the world's leading Bitcoin (BTC) and crypto cold storage.
Since its founding, ELLIPAL has been developing and distributing software for payment solutions in addition to crypto wallets.
ELLIPAL is one of the biggest Indiegogo success stories in recent times with the brand being the first to create the very first completely isolated hardware wallet. ELLIPAL promises to offer best-in-class security to cryptocurrency holders who want to invest in hardware wallets.
ELLIPAL's cold wallet - the ELLIPAL Titan - is the world's first fully metal sealed and air-gapped cold wallet with mobile support. ELLIPAL's first-generation cold wallet. Released in 2018, it quickly received acclaim from many users worldwide.
Although it isn't as popular as Ledger and Trezor, ELLIPAL is quickly becoming a serious contender in the cold wallet market.
ELLIPAL Titan
The latest version of the ELLIPAL Titan is a huge upgrade from its previous version, the built quality is truly surprising and impossible to disassemble, as we've said, the ELLIPAL Titan is the first fully metal sealed and air-gapped cold wallet in the market.
Air-gapped cold wallet - Keep remote attacks away
- Complete network isolation offline cold storage
- Built with no online components or ports
- Can never be connected to the internet
- Absolute protection against remote and online attacks
- Private keys stored will never touch the internet
Anti-disassembly & Anti-tamper - Protection against physical and supply chain attacks
- Cannot be disassembled without leaving serious damages - the case made entirely out of metal
- The chip will delete every data when it detects a breach
- Dust and waterproof hardware
- Resistant to impact and crush
Full control - Sign what you see
- You don't have to trust ELLIPAL or anyone, but you can trust the cold wallet
- ELLIPAL's QR codes are open data format. It is public, verifiable, and offline
- Only QR codes are used to transfer data from the cold wallet, the QR code format is controlled, verifiable and transparent
- You can be sure that the private keys are never transmitted through the QR code
- Supports importing mnemonics and private keys from another wallet, you do not need to trust keys generated by ELLIPAL
- Advanced Features: passphrase support
Usability
We found the ELLIPAL Titan surprisingly easy to use, we were expecting the interface to be glitchy, slow, or non-responsive due to the fact that it is a cheap device when compared to the most advanced smartphones with the best touch screen technology, nonetheless, and despite using an iPhone 13 as a side-comparison, we were very surprised to find that the touch screen was responsive and worked flawlessly, it's obviously not as good as a high-end smartphone, but it's better than many cheap smartphones.
Setting up the ELLIPAL Titan was very easy, everything is straightforward and simple, connecting it to the iPhone was also a breeze.
Charging the device is easy and convenient, updating the firmware has been made easier in the new version of the Titan, all you need to do is download the latest version of the firmware from the ELLIPAL website, save it to the micro SD card that comes included with the ELLIPAL Titan, eject the micro SD from your computer, connect the adapter to the bottom of the ELLIPAL Titan, insert the micro SD in the adapter, and proceed with the firmware update.
Check out the video below and see for yourself how easy the whole process is.
Mobile App
ELLIPAL offers a one-stop crypto wallet App for all your Cryptocurrency needs, with it you can manage your accounts, make trades and exchanges through your smartphone while your coins remain safe in the cold wallet.
The app looks clean and is simple to use, that being said, there's still room for improvement, the overall interface is nice but could be nicer.
Below you'll find a list of some of its features.
- The ELLIPAL App works alone as a hot wallet. Pair it with the ELLIPAL Titan to manage your cold wallet
- The setup allows you to hold all supported coins under one account. You can open multiple accounts as you need
- View all of your balances in real-time prices
- ELLIPAL has a built-in coin conversion and Binance DEX to help users trade anytime they want
- Add up to 2 passwords in the App and add even more security layers by using it with ELLIPAL Titan
- Buy Bitcoin and other cryptos with any major Visa/Masters cards, and Apple Pay
- Through ELLIPAL's partner - MoonPay - it provides a secure platform for you to easily buy crypto directly to your wallet. Your coins will never go through any third party.
- Trade like a pro, wherever you go. ELLIPAL lets you follow the price across multiple markets directly on the App
- Keep up to date on the latest cryptocurrency news every day
Crypto Finance
The ELLIPAL Mobile App can do more than just securing your coins. It's aimed to become a versatile tool for investors to easily trade and invest.
Exchange Coins with ELLIPAL
ELLIPAL users can convert their coins to any supported currency right on the ELLIPAL without needing to transfer to an online exchange. Converting coins on the ELLIPAL is both quick and secure.
ELLIPAL has partnered up with both Changelly and SWFT to offer a faster conversion than before. The best rates, either from Changelly or SWFT, will also be applied.
Purchase Crypto with ELLIPAL
Powered by Simplex and MoonPay, users can buy cryptos on the ELLIPAL App and have them deposited directly to their address on the ELLIPAL.
ELLIPAL accepts Visa. Mastercard, and Apple Pay. Just do a simple identity verification and you are ready to buy.
Cold Staking with ELLIPAL
Users can take advantage of both their ELLIPAL Titan and Staking feature by choosing cold staking.
While your coins are being staked with a delegate and earning rewards, they are kept securely inside the ELLIPAL Titan under an air-gapped environment.
Staking allows you to lock funds inside the ELLIPAL wallet and earn interest as rewards for doing so. Your locked coins will help support the operation of the coin’s blockchain network hence giving you back rewards. How much reward you will receive depends on which delegates you will choose to stake your coins to.
Below are some of the advantages of staking using ELLIPAL.
- Earn your passive income while still holding your coins securely on the air-gapped ELLIPAL Titan
- A simple and clear interface to get rid of the complexity
- ELLIPAL is a one-stop hub on ELLIPAL where you can see all your earning possibilities open for you and the crypto funds you hold. You can find alternative crypto earning options if you are a HOLDER
At the time of writing, the available coins for staking are Cosmos (ATOM), Tezos (XTZ), Polkadot (DOT), and Kusama (KSM).
Connect Cold wallet to Dapps
WalletConnect is an integration platform that connects wallets/exchanges with Dapps, it is a third-party platform that users can access with QR code scanning. Connecting your account with WalletConnect and using Dapps is now available on the ELLIPAL wallet.
There are ETH DeFi added on the [DApp] page, with Finance, Mining, and Trade as its branches. You can search the name or scan the QR code to connect with a Dapp.
You can search the name or scan the QR code to connect with a Dapp. Click the Dapp icon and confirm the connection, Click [Connect Wallet], and choose [WalletConnect].
Note: Please be aware that your operations on the third-party will be governed by the platform, and the third-party platform will be directly and solely liable to you.
Supported Coins
The ELLIPAL Titan really shines in this department, the cold wallet supports more blockchains and tokens than any of Trezor's or Ledger's wallets.
In total, ELLIPAL supports 40 blockchains and more than 10,000 tokens, among the supported blockchains, is the ever more popular Binance Smart Chain (BSC), which means that you can store your BEP-20 tokens using the ELLIPAL Titan.
For the complete and latest list of all supported blockchains and tokens, follow the link below.
Mnemonic Metal
One of our favorite products in the cryptoverse is ELLIPAL's Mnemonic Metal!
This accessory is a great product and definitely a much better option to store your seed phrases than a piece of paper.
If you ever lose access to your hardware wallet or hot wallet, you can use the mnemonics to recover your existing account easily on another wallet.
The ELLIPAL Mnemonic Metal is a solid and strong metal device used to store the important 12/15/18/21/24 words mnemonics and make sure your wallet’s backup lasts forever.
Below are some of the advantages of ELLIPAL's Mnemonics Metal.
- Fireproof, waterproof, mold-proof, insect-proof, can survive in extreme conditions; you can hold on to it for a lifetime
- Easy to set up and use. It keeps your mnemonics easily readable for a very long time
- It is light and pocket-sized, easy for you to take it around if necessary
- You can easily put a lock on the mnemonics metal to add more security and privacy
The ELLIPAL Mnemonics Metal strictly follows the BIP39 standard mnemonics allowing users to store 12/15/18/21/24 words mnemonics. It is compatible with most hardware wallets and hot wallets on the market, like Trust Wallet, Ledger Wallet, and Trezor Wallet, this means that you don't necessarily need to use it with your ELLIPAL Titan.
ELLIPAL Pros & Cons
ELLIPAL: Pros
- Fully metal sealed and air-gapped cold wallet with mobile support
- Anti-disassembly & Anti-tamper
- It has introduced many improvements since its launch in 2017
- An original and revolutionary concept
- Crypto exchange and staking included
- Supports 40 blockchains and more than 10,000 tokens
- The Mnemonic Metal is great
- Great design
ELLIPAL: Cons
- Relatively new company
- Social media presence needs to be better
- Customers have reported delays in delivery
- The founders should be more public to build trust
- The user-interface isn't great
ELLIPAL Review: Verdict
After our ELLIPAL review, we found the company to be one of the most promising in the whole cryptoverse, we love the Mnemonic Metal and think it is a must-have for anyone who's looking to seriously securing its mnemonics, having them wrote down on a piece of paper will eventually become a thing of the past.
We were also pleasantly surprised with the ELLIPAL Titan, the company has done some huge improvements in what design and built quality is concerned, the latest model of the Titan looks, feels, and works great.
The fully metal sealed and air-gapped cold wallet is revolutionary and it feels great to know that the wallet is anti-disassemble and anti-tamper.
ELLIPAL has also worked hard to support as many blockchains and tokens as possible, and, at the time of writing, it supports 40 blockchains (including the ever more popular Binance Smart Chain - BSC) and more than 10,000 tokens, in this department, the ELLIPAL Titan really outshines both Trezor's and Ledger's wallets.
All these facts make us believe that ELLIPAL really has the potential to overtake the crypto wallet market and become the most popular supplier in the near future.
For this to happen, however, some improvements are still due, the fact that the company is relatively recent is an undeniable fact that makes some users suspicious, that being said, that suspicion can be diminished if the company takes some measures, we believe that ELLIPAL's social media presence should be much stronger, it needs a better strategy, another very important measure would be to have its founders be more public - give more interviews, interact with customers, etc - this would definitely grow confidence in the company.
There have also been some reports from customers about delays in delivery and slow customer support, all these are to be expected in a relatively new company but should be addressed and improved as soon as possible.
The user interface isn't great, and the overall design of the app could also be much better.
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