ELLIPAL Titan Review 2021
ELLIPAL Titan is the world’s first fully metal-made, air sealed hardware wallet. It promises special security against physical attacks. In addition, it is still designed for mobile use like its predecessor and completely dispenses with network connections. The hardware wallet exchanges its data with the smartphone via QR codes. You can read more about how this works and more in the following review.
The Hardware Wallet ELLIPAL Titan can currently be ordered at a price of 169,00 $ (click here to check the current price) directly from the manufacturer. Shipping to the the whole world is free of charge. As a payment option, all common ones are available via PayPal, as well as cryptocurrencies.
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 been cases like this in the past.
The device is sent in a small black box, which is welded in foil. If you would like to, you can also order the product MNEMONIC Metal. This allows you to safely store the backup key (recovery seed) generated during setup.
Contents of the Package
In addition to the ELLIPAL Titan hardware wallet the package also includes a quick start guide, a congratulatory card, two stickers and a note to write down the recovery key. Also included is the Ellipal safety adapter. This can be connected to the connectors on the bottom of the ELLIPAL Titan and offers a micro-USB port for charging the device. For this purpose, you can use the short USB-A to Micro-B charging cable, which is also attached. In addition, the adapter has an input for a Micro SD card, which allows to update the firmware. However, the SD card required for this is not included in the scope of delivery.
With the hardware wallet itself, a lot has been improved to the predecessor. The housing is much more robust and valuable due to the aluminium alloy used compared to the previously used plastic. This fully air-encapsulated design also has the advantage that it is resistant to dust and water. The case measures 118x66x9.7mm and weighs 138g, includes a 1400mAh battery with a standby battery life of 259 hours according to the manufacturer.
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!
First, download the ELLIPAL app from the store of your smartphone. Then you turn on the ELLIPAL Titan and start creating an account. For this purpose, you set both an account name and a password. Then the hardware wallet generates the seed, which is used for generating the addresses of the cryptocurrencies This can be backed up once via the recovery key in order to be able to restore your account.
Your Recovery Seed is the backup key to all your cryptocurrencies and applications. 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 Cryptosteel Capsule or Billfodl are suitable for this.
No one but yourself can be held liable for any financial losses caused by improper handling of sensitive data.
Of course, instead of creating a new account, you can restore an existing one. ELLIPAL accepts a security key in the form of 12, 15, 18, 21 or 24 words. Finally, the “Connect” icon connects to the app using QR codes.
The hardware wallet is always necessary if you want to send cryptocurrencies or make changes to your accounts. Otherwise, the accounts can be viewed via the app without the hardware wallet In addition, the app offers other features such as live tickers of various coins and current news
A transaction can be easily created via the interface in the ELLIPAL app. Then a QR Code is generated, which has to be scanned by the camera of the hardware wallet. This sends all necessary information to the hardware wallet, which can then sign the transaction. This in turn generates a QR code that is scanned by app. Then the transaction is sent via the app to the corresponding network.
Update of the Firmware
To update the firmware you have to download the current version as a ZIP archive from the ELLIPAL homepage. The archive is then copied to a micro-SD card and then inserted into the ELLIPAL security adapter. Only cards with a maximum of 32GB are supported.
Now you turn off the device, connect the adapter to the device and also connect it to the computer to charge the battery. If you turn on the hardware wallet again, you can start the update process in the settings. It is important not to interrupt the update process by disconnecting the adapter. Because it is not very tight due to the magnets, one has to pay special attention here. The update process may take more than five minutes.
Since Ellipal is a mobile oriented hardware wallet, it can be used on the following platforms:
The following cryptocurrencies are currently supported, with continuous work on additional coins:
- ERC-20 Tokens
- Bitcoin Gold
- TRC20 Tokens
- TRC10 Tokens
Here at Inivty you can see all Bitcoin and Altcoin prices from many exchanges in real time, compare rates and buy instantly. You can then easily send the purchased cryptocurrencies to your hardware wallet: compare prices here.
Documentation and Support
ELLIPAL comes with a small manual that guides you through the most important steps in English. There is also a small knowledge base on the official homepage that answers the frequently asked questions. If you have further questions, you can also reach the support team via the homepage.
The app as well as the hardware wallet is available in English.
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 fully airtight hardware wallet that relies only on QR code 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 publicly put its open source QR code on GitHub.
When you play this YouTube video, data is transmitted to Google.
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 leaving any lasting damage. The anti-manipulation feature also deletes all keys as soon as a break-in is detected, protecting the wallet from physical attacks and hacks.
FAQ 7Ask your own question
That is not a problem. You can restore your accounts to a new hardware wallet using the recovery key you wrote down when you set it up.
Most wallets support more than just one cryptocurrency, but only generate one backup. Nevertheless, this one backup is sufficient to restore all cryptocurrencies as all private keys of the different wallets result from the seed that is backed up as a backup during setup.
Hardware Wallets such as the Ledger Nano X, TREZOR Model T, BitBox02 or KeepKey all work according to the same principle. They are a special form of a so-called wallet, which is used to manage cryptocurrencies. A hardware wallet is a physical device that securely and inisolationly generates the private keys to the cryptocurrencies. Due to the extra hardware, they have some advantages over software wallets:
- Private keys are often stored in a protected area of a microcontroller and cannot be transferred out of the device in clear text.
- Hardware wallets are immune to computer viruses that steal from software wallets.
- They can be used securely and interactively, private keys never need to come into contact with potentially vulnerable software.
- The software is in most cases open source, so that the user or professionals can validate the entire operation of the device.
However, it is important to understand that hardware wallets are an attractive target for attackers and depend on several assumptions to maintain security. They are not a miracle weapon, and there are several realistic ways to hack a hardware wallet Especially if someone has physical access to the device.
A new cryptocurrency is rarely supported directly by a hardware wallet at the beginning. However, most providers such as Ledger or TREZOR are constantly working to support new cryptocurrencies. Therefore, it is often worth waiting until the desired currency is supported by your hardware wallet.
I would like to give a hardware wallet as a birth gift. Do I need this every time I want to deposit coins or is there another way?
No, you don’t need the hardware wallet every time you want to make a deposit. It is only necessary to set up the hardware wallet and generate an address of the corresponding cryptocurrency.
Cryptocurrency can now be sent to this address on the desired cycle on a regular basis without the need for the hardware wallet. The address does not expire.
Are my cryptocurrencies stored in the hardware wallet, or where exactly are they? This is a very good question because the answer defines what your wallet actually needs to protect.
Cryptocurrencies are so named because they are secured by cryptography. For this you need a set of digital keys, for example your (very secret) private key. With this key you can encrypt and digitally sign things.
Let’s take Bitcoin as an example (other cryptocurrencies work in a similar way). The entire Bitcoin network is kept up to date by a common data structure called the blockchain. It contains records of all transactions ever made and is publicly accessible online, so anyone can read it. When you receive some bitcoins, say 0.1 BTC, you see them in your bitcoin wallet, listed under a bitcoin address.
At the same time, the bitcoins are not actually stored in the wallet, they are just an entry in the public blockchain. What the wallet stores is your secret private key that belongs to that address. Since you control that private key, you can spend those Bitcoins again: that’s how “Bitcoin ownership” is defined. Anyone can see these bitcoins, but only you can spend it, so they are yours. But that also means that *anyone* with the right private key can spend those bitcoins. Therefore, it is very important to keep this key secret.
What stops the manufacturer of your hardware from using a backdoor and simply stealing your cryptocurrencies? How much do you have to trust hardware wallet manufacturers?
While a completely “trustless” solution is probably not possible, manufacturers are doing everything they can to minimize the need to trust them.
Most of the software code of many hardware waller manufacturers is open source, i.e. publicly available. Anyone can check how the device works and how secrets are handled. Of course, not everyone has the ability to review code: that’s why independent researchers are often encouraged to analyze, and are often rewarded by bug bounty programs when they find something. This does not limit their ability to publish a full independent report without permission.
The essentials to go: A wallet manages your secret private keys and requires full access to them. You can and should demand full transparency about how a wallet works and ensure that independent public audits are encouraged.
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|Cryptocurrencies||Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, Ripple, ERC-20 Tokens, Bitcoin Gold, Stellar, DigiByte, EOS, Cardano, Tether, TRC20 Tokens, TRC10 Tokens|
|FIDO U2F Authenticator|
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