ELLIPAL Titan 2.0 Review 2023
Founded in 2018 and based in Hong Kong, ELLIPAL is at the forefront of Web3 security hardware and has been promoting air-gapped wallet technology since 2019. The 100% offline ELLIPAL crypto hardware wallets have already been delivered to over 140 countries. ELLIPAL was also voted one of the top 3 safest and best cold wallets in the world by Forbes in 2022. Now they have launched a new hardware wallet at the end of 2023: the ELLIPAL Titan 2.0.
In this review, I will take a detailed look at the hardware wallet and see how it differs from its predecessor, the ELLIPAL Titan.
Buy the hardware wallet online
The ELLIPAL Titan 2.0 hardware wallet can currently be ordered directly from the manufacturer at a price of 169,00 $ (click here to check the current price). There are currently two colors to choose from. If more than one item is ordered, shipping anywhere in the world is free of charge. The product MNEMONIC Metal, for example, is recommended for safe storage of recovery seeds. You can choose PayPal or a large number of cryptocurrencies as a payment service provider.
Hardware Wallets should preferably be ordered directly from the manufacturer or official resellers if possible. Dubious stores or private sellers on platforms like ebay or amazon could manipulate the devices for their own purposes or trick the buyer. This way, the thieves can steal all the coins from your hardware wallet at a later time. Unfortunately, there have already been such cases in the past.
Unboxing of the new ELLIPAL Titan 2.0
The device is sent in a small white box that is shrink-wrapped.
The main advantages of the Hardware Wallet are highlighted on the back of the box. The color of the hardware wallet ordered is marked on the underside. When you open the box, the ELLIPAL Titan 2.0 hardware wallet is waiting for you. It is packed in a small bag for protection. The other accessories are located behind it.
In addition to the hardware wallet itself, a screen protector is also included. In addition, a 16GB MicroSD card for updating the firmware and the stand-up charger with matching USB-C cable. The documents are quick reference guides in many different languages, including German and English. Also included are two cards for noting the recovery seed that is generated during setup.
First impression of the ELLIAPL Titan 2.0
The Hardware Wallet itself has hardly changed externally compared to its predecessor. It is still 118 × 66 × 9.7 mm and weighs 135 grams. Just like its predecessor, it is completely sealed with metal and the display is particularly strongly bonded.
The frame of the camera lens has changed. This is now wider and gold. There have also been major changes on the inside. The ELLIPAL Titan 2.0 now has a secure element and the overall performance of the hardware wallet has been improved. The display has also been upgraded to a Full HD IPS screen.
Setting up the ELLIPAL Wallet
Never use a hardware wallet that is already set up. You must choose your own PIN code or password and do the backup yourself. This is not given by anyone!
To start setting up, switch on the Hardware Wallet using the power button. The setup begins with the selection of a suitable language. In addition to English, numerous other languages are also available here, including German.
You will first be asked to download the ELLIPAL mobile app. This is available for iOS and Android. Then you can continue with the setup and add an account.
Add an account
You now have the option of adding an account. You can either import an existing account using a 12, 15, 18, 21 or 24 word recovery seed or create a new one. When creating a new account, you choose an account name and password.
Your Recovery Seed is the backup key to all your cryptocurrencies and apps. The Recovery Seed (backup) can only be viewed once. Never make a digital copy of the Recovery Seed and never upload it online. Keep the Recovery Seed in a safe place, ideally also safe from fire and water. Special backup products, for example Billfodl are suitable for this.
No one but yourself can be held liable for any financial losses caused by improper handling of sensitive data.
The recovery seed will then be displayed, which you should make a note of. Here, 24 words are now also supported as an export. It is also subsequently checked on a random basis. Then you select the coins you want to store securely and the first account is created.
Connect your account to the app
To be able to carry out transactions, a link to the app is required. To do this, open the app you have just downloaded and click on the connect symbol in the top right-hand corner of the ELLIPAL Titan 2.0 Wallet. The hardware wallet then displays a series of QR codes that can be scanned with the app. Once the process is complete, the wallet is linked to the app. You can now initiate transactions via the app, which of course still have to be signed by the ELLIPAL Titan 2.0.
But more on this in the next section of this test report.
To transfer coins to yourself or to another person, you must submit a transfer request in the ELLIPAL app and sign it with the ELLIPAL Cold Wallet.
To do this, select the currency you want to send in the ELLIPAL app. A transaction is created by pressing “Send”. The ELLIPAL app generates an unsigned data QR code for the transaction, which is waiting to be signed.
Then select the same account and currency in the ELLIPAL Cold Wallet that you have just synchronized with the app. Then click on the “Sign” button. After you have entered the password, a camera opens on the wallet. Use it to scan the unsigned data QR code in the app.
After the scan, the wallet returns a signed data QR code. This is then scanned by the app and the transaction is completed.
Select the currency you want to receive. Press “Receive” to display a receiving address and the QR code. This can be done both in the app and on the hardware wallet itself.
Update of the Firmware
To update the firmware, the current version must also be downloaded as a ZIP archive from the ELLIPAL homepage, as with the predecessor. The archive is then copied as it is onto the enclosed MicroSD card and inserted into the charger. Now switch off the ELLIPAL Titan 2.0 and place it on the charger.
The status LED on the underside of the charger indicates the status of the MicroSD card:
- Blue: MicroSD card is inserted
- Green: MicroSD card is not inserted
- Flashing: A data transfer is taking place with the SD card
The update process can then be started on the hardware wallet. It is important that the battery is charged to at least 50% and that the device is not switched off during the update. The update now only takes around 2 minutes and is therefore much faster than the previous model.
The ELLIPAL Titan 2.0 is also fully designed for mobile use and is therefore compatible with Android and iOS.
10.000+ Coins are supported. However, further coins are also being worked on continuously. Supported are among others:
- ERC-20 Tokens
- Bitcoin Gold
- TRC20 Tokens
- TRC10 Tokens
It also supports a large number of DApps as well as direct trading and staking of cryptocurrencies.
Documentation and Support
ELLIPAL comes with an instruction manual that guides you through operation in several languages. There is also a Help Center on the official homepage, which provides answers to frequently asked questions. If you have further questions, you can also reach the support team via the homepage. Both the hardware wallet software and the app can be used in several languages.
As a hardware wallet manufacturer, ELLIPAL naturally places great value on security. To achieve this, ELLIPAL has developed a security system that protects the user from hacking attempts while providing mobile support.
A hardware wallet is the most secure way to store cryptocurrencies. This is because these devices store the private keys that provide access to your cryptocurrencies. Only a hardware wallet can effectively protect private keys through numerous security measures. Even though all hardware wallets are considered very secure, there are small differences between each model. In addition, even with a hardware wallet, it cannot be 100% ruled out that a hacker can extract information with physical access with great effort.
An essential part of this is that ELLIPAL does not have any physical connection to the Internet. ELLIPAL is a completely airtight hardware wallet that only relies on QR codes to transfer data. It cannot be connected to connections such as USB, Wifi or Bluetooth. All transactions are only securely signed with QR codes. All QR codes are verifiable and secure, which is why ELLIPAL has made its open source QR code publicly available on GitHub. The microSD card interface for the firmware update only allows a one-way transfer and therefore does not pose a security risk. A new feature of the ELLIPAL Titan 2.0 is the built-in CC EAL 5+ safety element.
In addition, the ELLIPAL Titan is robustly made of metal and sealed in a dust and water resistant way. It is impossible to break open the wallet without causing permanent damage. The anti-tampering function also deletes all keys as soon as an intrusion is detected, thus protecting the wallet from physical attacks and hacks. This already makes a large proportion of hacker attacks, supply chain attacks or Evil Maid attacks impossible.
With ELLIPAL, two-factor authentication is also possible by securing both the hardware wallet with an access code and the individual accounts once again.
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|Compatibility||NFT, DApp, Staking|
|Cryptocurrencies||Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, Ripple, ERC-20 Tokens, Bitcoin Gold, Stellar, DigiByte, EOS, Cardano, Tether, TRC20 Tokens, TRC10 Tokens|
|Display as 2FA|
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