ELLIPAL Titan has been awarded as the best cold wallet of 2022, by Forbes Advisor

Which cold hardware wallet is better? In accordance with the multi-factor comparison methodology, Forbes Advisor has identified the 4 best cold hardware wallets in 2022.  In comparison with the wallets Trezor, Ledger, SafePal - ELLIPAL received the highest rating.  Air-gapped ELLIPAL Titan Cold Wallet has never been hacked.


Cryptocurrency is more popular than ever, with a global user base numbering more than 290 million people. When you buy crypto, you need a safe place to store the digital keys that secure your assets. Crypto wallets are the best tool for the job, although they work differently than tucking cash into a billfold.

With countless options, selecting the right type of crypto wallet for your needs is the first step. Crypto wallets support different types of coins - most hold Bitcoin (BTC), some only handle Ethereum (ETH) - and they come in two main flavors: Hot wallets are connected to the internet, while cold wallets live offline.

If you need to store multiple cryptocurrencies in one place, it’s best to shop around. To help you choose, Forbes Advisor has combed through the leading players to determine the best crypto wallets. We’ve separated our list into the best cold wallets to aid your search further.

TOP 4 Best Cold Wallets of December 2022 by Forbes Advisor

Cold wallets are physical gadgets designed to store crypto in a format that is not connected to the internet, enhancing security. They are typically hardware devices, and some even look like USB sticks.

Whatever their form factor, a cold wallet provides cold storage for your crypto keys. This greatly reduces risks associated with hacking, but cold wallets lack many of the additional trading and integration features prevalent among hot wallets.

LogoCold WalletImageRankingLearn more
ELLIPAL
Ledger
Trezor
SafePal

Forbes Advisor has also included the SafePal hardware wallet in the section "The Best Cold and Hot Wallets in 2022".


Which cold hardware wallet is better?

Ellipal Titan Cold Wallet: Air Gap Technology

ELLIPAL Titan Hardware Wallet vs SafePal, vs Trezor and vs Ledger

ELLIPALLedgerTrezor and SafePal hardware wallets are among the most popular hardware wallet users. However, in addition to the general property - reliable protection of your crypto assets (first of all), these wallets have some differences. Let's compare their main parameters and consumer properties.

Which cold hardware wallet is better?

In accordance with the multi-factor comparison methodology, Forbes Advisor has identified the 4 best cold hardware wallets in 2022.  In comparison with the wallets Trezor, Ledger, SafePal - ELLIPAL received the highest rating.  Air-gapped ELLIPAL Titan Cold Wallet has never been hacked.


In the hardware wallet market, there are several dozen hardware wallet offers from both leading manufacturers and promising start-up companies. The leaders among hardware wallets are:

Which of these wallets to choose, which parameters should be taken into account when choosing a wallet that is right for you and provides maximum protection for your crypto assets? It is also important to take into account the price of the device.

When choosing a hardware wallet, it is recommended to consider the following parameters by which you should compare hardware wallets and choose the most acceptable option for you:

1. Supported Currencies, Coins.
2. How you actually access your crypto.
3. Ease of Use & User Suitability
4. Supported Operating systems
5. Wallet Backup and restore coins
6. Security Features
7. Manufacturer’s Credibility & Reputation
8. Portability
9. Costs and Prices; Discounts and Codes
10. Independent reviews; consultations with experts, professionals, and experienced users of hardware wallets.

Compare the models of hardware wallets from leading manufacturers according to various technical and functional characteristics and choose the best option for yourself.

By considering these important features, you'll have a much better idea of which hardware wallet is right for you.

Use a comparison table:

 COMPARISON TABLE OF HARDWARE  WALLETS * 
Logo
Model Ledger Nano X TREZOR Model T ELLIPAL Titan SafePal S1
Image
PlatformWindows, MacOS, Linux, Android, Chrome OS, iOSWindows, Mac, Linux, AndroidAndroid, iOSAndroid, iOS
BrandLedgerSatoshiLabsELLIPALSafePal
Altcoin SupportYesYesYesYes
FIDO U2F AuthenticatorYesYesYes-
Supported Coins90+5133+32+
Open SourceNoYesNoYes
 Weight34g16g138g28g
InterfacesBluetooth,   USB-CmicroSD,
USB-C
CameraCamera 
Size, mm72x19x1264x39x10119,4x64x9,9119x65x10
Screen 2FAYesYesYesYes
Exchange integration   Direct swap between   crypto
integration into the software 
Yes.
Buy and Sell Crypto
Yes.
Buy and Sell Crypto
YesYes
Integrated exchange   platforms;
Fiat-to-Crypto Gateways
Changelly, Coinify
Wyre
Changelly,
ChangeNow,
CoinSwitch,
ChangeHero,
Fox.Exchange, MorphToken
Changelly
Simplex
MoonPay
Simplex
Sale Price (Official online store):
Tax and duty not included
$149.00€219.00ELLIPAL Titan
$139.00
ELLIPAL Titan Mini
$79.00
$49.99
Sales, discounts, coupon codesYesYesYesYes
Online Store
Learn More 

*) - An interim change of product specifications, prices, delivery time and costs is possible.


Ledger Nano S

Ledger Nano S

Ledger is one of the most well-known brands in the hardware wallet market thanks to it being one of the first brands to establish itself. Users like the Ledger Nano S for its affordable price and simple design that looks like a USB. To use the Ledger Nano S, the user must download a Ledger Live App to their PC and set up the wallet through the PC. The Ledger Nano S has 2 buttons and a small screen on the device that is used for authorization during wallet creation and transactions. However, some users may find the small buttons and screens difficult to navigate. 

Although the Ledger Live App is well-made and simple to use, there is one major issue with the Nano S that users may find frustrating. To store a certain coin on the Nano S, users must manually install an APP for that coin from the Ledger Live App into the Nano S. Only 5 Apps can fit into the Nano S at a time meaning the Nano S can only hold 5 currencies at a time. This means you will need multiple Nano S if you are holding many currencies. 

Ledger Live App
  • Pros: Popular brand, affordable price, small size, Ledger Live App is simple to use.
  • Cons: Must be used with PC through USB cord, must keep installing and uninstalling Apps, small buttons and screen.
  • One drawback of this cryptocurrency hardware solution is it experienced a hack in July 2020, in which 1 million email addresses were leaked. The shipping information required to purchase an item was stolen. Ledger hired a new chief information security officer in response to the hack.
  • While there are many plus points with Ledger, customer service is limited to submitting an online ticket and scrolling through a FAQs page.

Ledger Nano X

Ledger Nano X

Ledger Nano X The upgrade for the Ledger Nano S but also comes with a bigger price tag. It also comes with a larger data storage so more Apps can be installed inside the Nano X at once and some major currencies are already pre-installed. The biggest change of all is that you can now access your coins through the Ledger Live smartphone App instead of your PC and it works with the Nano X through Bluetooth. Being able to use the Ledger wallet through their smartphone is a big plus for many users. 

  • Pros: Support smartphones users.
  • Cons: Data storage is still limited, Bluetooth connection can be a security risk.
  • One drawback of this cryptocurrency hardware solution is it experienced a hack in July 2020, in which 1 million email addresses were leaked. The shipping information required to purchase an item was stolen. Ledger hired a new chief information security officer in response to the hack.
  • While there are many plus points with Ledger, customer service is limited to submitting an online ticket and scrolling through a FAQs page.

ELLIPAL Titan Cold Wallet

ELLIPAL is a cryptocurrency wallet start-up that started selling its hardware wallets in 2018. It quickly gained popularity among hardware wallet experts because it came with a new and effective security design not used before in hardware wallets - true air-gapped security.

Air-gapped refers to a device that cannot be connected to any online networks or any devices - this includes WiFi, Bluetooth, USB, Cellular connections, and so on. This means the ELLIPAL Titan is protected from every type of online attack which makes it incredibly secure compared to other hardware wallets. While the Ledger may carry risks when it connects with Ledger Live App through USB or Bluetooth, the ELLIPAL Titan eliminates that risk.

ELLIPAL Titan: Air-Gapped Cold Wallet
ELLIPAL Titan: Air-Gapped Cold Wallet

ELLIPAL Titan is known for using a technical solution to ensure the security of a hardware wallet - an air gap. The air gap isolates your hardware wallet physically, electromagnetically, and electronically.


Another big plus for the ELLIPAL Titan is that its frame is completely made out of a single piece of metal making it incredibly strong. If a hacker tries to crack it open, it will inevitably leave obvious damages. It also has anti-tamper capability, meaning the device can automatically delete every data when it detects a breach. This is huge security plus compared to other wallets as it can protect you against actual thief and supply chain attacks.

Last but not least, the ELLIPAL Titan also pinpoints one pain point Ledger users have which is not being able to access many currencies at once. On the ELLIPAL Titan, you can create multiple accounts on one device and each account can hold every coin that the ELLIPAL supports. No need to install anything which is very convenient.

The ELLIPAL is also very easy to use for every age group as it got a large touch screen. You will need to download the ELLIPAL App for your mobile phone. It works similarly to the Ledger and the Ledger Live but the main difference is that ELLIPAL uses QR code to communicate with the App instead of USB or Bluetooth. 

  • Pros: Very high-security thanks to being air-gapped, Protects against physical attacks, can store many currencies under one account. 
  • Cons: Priced a little higher than the Ledger, has some weight to it as it is made out of metal.

ELLIPAL Titan: Get a discount of $ 5

Use the Coupon Code "178490" and get a discount of $ 5 when buying an ELLIPAL Titan hardware wallet in the official ELLIPAL online store.

Trezor Model T

Trezor Model T

Trezor is the first company to sell hardware wallets and is loved by early adopters of cryptocurrency. It is created by Satoshi Labs - a very capable development team and the software is open-sourced. The Trezor is used more by experts in comparison to beginners as it is not as simple to set up. However, the software gives you plenty of freedom, for example, you can connect it to other wallets such as Mycelium, Metamask, meaning it is not bound only to the Trezor App.

The Trezor Model T comes at a high price but it does have a small touch screen to input digit pins and a USB port to connect with a PC or phone.

Every Trezor has a PIN code that never leaves the wallet. It makes sure that if the PC or phone the wallet is using is compromised, the PIN will not get stolen. The PIN system in Trezor also has an inbuilt system that prevents any brute-force attempts. After each incorrect guess, the waiting time between the guesses is raised by a power of two. Making 30 guesses will take as much as 17 years. This makes it very difficult to hack the Trezor without knowing the PIN code. 

  • Pros: High-profile development team, has a strong history in the crypto space, touch screen. 
  • Cons: High price, not wireless, not resistant to physical attacks.
  • Security flaws identified in 2019
  • Despite its reputable brand, Kraken claimed that its labs identified a critical security flaw with two Trezor models in a January 2020 announcement.

ELLIPAL Titan vs SafePal S1

ELLIPAL hardware wallets and the SafePal are among the most popular among hardware wallet users. However, in addition to the general property - the presence of an air gap, these devices have some differences. In addition, they are strong competitors to the industry leaders - Ledger and Tresor hardware wallets. Let's compare the main parameters and consumer properties of ELLIPAL and SafePal.

SafePal is also a hardware wallet company that launched its first model, Safepal S1 in 2020. There are many similarities between these wallets but there are also strong differences that pull them apart. In this article, we will compare the two hardware wallets on the points that matter to you, as a trader.

Air-gapped Security

What the ELLIPAL Titan and SafePal S1 have in common is that both works without needing to physically connect to a computer via a USB cord or to a mobile phone via Bluetooth. This makes the system air-gapped because it will never get a chance to connect with anything online and risked getting hacked. This can be compared to other hardware wallets such as Ledger or Trezor that have to be linked with a PC to use. In this case, both Ledger and Trezor are not air-gapped. 

Nonetheless, hardware wallets still need to be able to transfer data to an online proxy to allow the user to access their crypto. Instead of USB or Bluetooth connections, hardware wallets like ELLIPAL and SafePal use the QR codes scanning method and uses.

Being air-gapped brings many security benefits including it being impossible to be hacked through any online means. For example, if your computer is hacked, connecting a hardware wallet to access your funds via the computer may lead to your wallet being hacked and crypto being stolen. This is because the hacker can find a way to access your hardware wallet the moment the connection with the computer is established. For wallets like ELLIPAL, there is no connection so hackers can't gain access.

Hardware Security

The hardware is where the ELLIPAL Titan and SafePal S1 see a lot of differences. The ELLIPAL's system is placed inside a strong, 100% one-piece metal frame. A touch screen is then placed on top and sealed tightly to create a strong seamless piece of hardware. On the other hand, the SafePal S1's is made out of plastic and has a small screen and navigation buttons. Both devices have batteries inside for charging and a camera for QR code scanning. 

A special feature about the ELLIPAL that many other hardware wallets don't have is its anti-tamper and anti-disassembly features. If a hacker or a thief tries anything to access the system such as prying it open, the ELLIPAL's system will detect it and automatically deletes every data on the wallet and make the wallet unusable. This protects the data of the user and also prevents crimes like supply-chain attacks. Users who received an ELLIPAL can always be sure that the wallet is safe to use because if it has been hacked or modified before, it won't be usable the moment you received it.

In top of that, the ELLIPAL is already very difficult to pry open thanks to how it is manufactured. If a hacker successfully pries it open, it will leave serious physical damage; and as you may know, nobody uses a damaged wallet. 

Coin Support

ELLIPAL currently supports 40+ blockchains and all of their tokens while Safepal supports 20 blockchains and all of their tokens. ELLIPAL is now supporting more coins than SafePal.

SafePal S1

ELLIPAL Titan vs SafePal S1: Conclusion

The ELLIPAL Titan and SafePal S1 are both very secure considering their air-gapped protection. In terms of protection from online attacks, they are more secure than both the Ledger and Trezor. They are also easy to use as users only need to download an APP on their phone and use it by only scanning QR codes.

However, the ELLIPAL Titan stands out due to its solid metal build that makes it strong against physical attacks and supply chain attacks as well. It is easy to not worry about dropping the ELLIPAL or damaging the ELLIPAL compared to the SafePal. ELLIPAL also has double the coin support as SafePal meaning users will have more choices if they use the ELLIPAL.

On the downside, customer service on SafePal is limited. Users have to fill out a “submit a request” form for support. Not intuitive for beginners.


ELLIPAL Titan Mini Cold Wallet

Note: Keep in mind the following tips that will help ensure the security of your hardware wallet, and therefore your crypto coins and tokens:

  • No wallet is 100% secure. If you want to ensure the safety of your funds, the buck stops with you. The most secure wallet in the world is useless unless you properly follow wallet setup or security instructions, so exercise caution at all times.
  • Only buy from a reputable seller. Only buy hardware wallets direct from the manufacturer or an authorised reseller since buying a second-hand wallet puts you at risk of hacking and theft. The list of official online stores of leading manufacturers of hardware wallets can be found here.
  • Keep private details private. You should never disclose your hardware wallet's secure PIN and your crypto private keys to anyone.
  • Don't lose your recovery seed. You need your recovery seed to access your crypto coins if your wallet is lost or stolen, so make sure you write this seed on a piece of paper and keep it safe. Better yet, write it on several pieces of paper and keep them all in separate but secure places. Consider purchasing a recovery phrase backup device like CRYPTOTAG for even greater peace of mind. CRYPTOTAG provides you with a safe way to save your hardware wallets recovery seed. The letters of the individual words of the Recovery Seed can be embossed into extremely resistant titanium with a single hammer blow. This keeps your backup much safer than on simple paper. You can find out in detail how this works in the review.
CRYPTOTAG Zeus - #1 Best-selling backup worldwide. We have devoted our time and resources to create the best backup in the world. No compromises made here. CRYPTOTAG high-end products enable people around the world to be their own bank. Secure your financial freedom with your own CRYPTOTAG today. Compatible with Ledger, Trezor, KeepKey Hardware Wallets

Bottom Line

ELLIPAL Titan is known for using a technical solution to ensure the security of a hardware wallet - an air gap. The air gap isolates your hardware wallet physically, electromagnetically, and electronically.

While most hardware wallets use USB or Bluetooth, ELLIPAL Titan with its ELLIPAL app only uses QR codes to sign transactions. ELLIPAL Titan is incompatible with Wi-Fi, Bluetooth and cellular, blocking all physical connections.

This feature is the main feature of the wallet and its main competitive advantage over some other hardware wallets (Ledger Nano S, Ledger Nano X, Trezor Model T).

Thus, it protects your device from network and remote attacks, and using a self-destruct mechanism - from unauthorized access during possible autonomous attacks. If he finds a serious violation, he will delete all information (private keys) stored inside. You always have the seed to rebuild your wallets, if that happens, of course.

The ELLIPAL Titan has a 4-inch color touchscreen, so you can easily customize it and see clearly all the transactions you sign.


Methodology by Forbes Advisor

Forbes Advisor performed an in-depth assessment of the features and options offered by the leading crypto wallets. The data was collected between Aug. 1 and Oct. 7, 2022. From the data gathered, each wallet was scored and assessed based on seven key variables:

  • Stablecoins. The number of popular stablecoins supported, with particular emphasis on Tether, USDC, Dai, TrueUSD and Paxos Standard.
  • Top cryptocurrencies. The number of supported major cryptocurrencies by market capitalization. We put a specific focus on the availability of the most popular 20 cryptocurrencies.
  • Usability. The approach for this metric differed for Best Exchange/Hot Wallets and Best Cold Wallets. But both types of wallets were measured for exchange integration(s) and staking accessibility. This metric also measures utilization, such as the ability to convert coins within the wallet.
  • Customer service. Types of customer support available, ranging from phone, email and live chat to 24/7 support, as some prime examples.
  • Costs and fees. Fee structures were assessed differently for Best Exchange/Hot Wallets and Best Cold Wallets. Fees for Best Exchange/Hot Wallets were assessed on a range of costs of fees charged to users, such as fees for moving coins in or out of a wallet, associated conversion costs and transactional costs. Additional data sets were used to evaluate costs and fees for Best Cold Wallets, such as the initial cost for a hardware storage solution.
  • Security. With security paramount when it comes to crypto storage, security was heavily weighted in the scoring of Best Exchange/Hot Wallets and Best Cold Wallets. Some of the features assessed in both rankings include whether the wallet recoups stolen assets and provides several security measures (e.g., two-factor authentication, password encryption, etc.). Previous security breaches or hacks were also noted.
  • Additional features. Other areas measured include, but are not limited to, whether the wallet provides educational resources and live charts and support for non-fungible tokens.

For each ranking, the sum of weighted values across all or some of these key factors was calculated to award each crypto wallet an overall rank. 

What Is a Crypto Wallet?

Cryptocurrency exists as nothing more than a string of code on a larger blockchain. When you purchase a crypto, such as Bitcoin or Ethereum, your proof of ownership is based on a public key and a private key.

The public key is like your bank account number: It tells you where your crypto is, but it doesn’t provide access to it. The private key identifies you as the “true owner.

”If you lose the private key, you could lose access to your crypto. Likewise, any person who gets ahold of your private keys has full access to your crypto.

There’s a popular expression in the crypto world, “Not your keys, not your coins.” If you don’t control your keys, you don’t have full access to your crypto assets. 

What’s a Cold Wallet?

Generally, A more secure type of wallet is a “cold” wallet. These hardware wallets come in several shapes and sizes, and they can be a USB stick that connects to the web or a device that scans a QR code, linking to a software application.

Hardware wallets help keep your private keys safe from hackers who would need to steal the physical wallet to gain access and usually involve a PIN as an extra layer of security.

You can typically purchase a hardware wallet for between $50 and $150, although there are some higher-priced options, too.


What to know about the ELLIPAL Titan Cold Wallet (Read First)

If you have purchased yourself an ELLIPAL Titan hardware wallet, you are already on your way to securing your cryptocurrency in the most secure air-gapped cold wallet. However, it is also important for you, the user, to understand the basics of this wallet in order to keep your crypto secure at all time.

ELLIPAL Titan Cold Wallet, ELLIPAL, App, ELLIPAL Titan Mini

What is the purpose of the ELLIPAL Titan?

The ELLIPAL Titan helps you create your cryptocurrency account in a secure and offline environment. This consists of creating your private key and the public key. The public key is shared to the App and the private key will be kept securely within the ELLIPAL Titan, protected from any hackers. The ELLIPAL Titan is also used when users want to securely sign for a transaction.

What is the purpose of the ELLIPAL App?

The ELLIPAL App is designed to be paired with the ELLIPAL Titan. The ELLIPAL Titan simply pairs with the ELLIPAL APP via QR code and now, the APP now has all of your addresses. The addresses sync up with the blockchain and allows you to view your balance and create transactions. You cannot view your balance on the ELLIPAL Titan because it is completely offline.

You can also create an account directly on the App, this will create a hot wallet account.

How ELLIPAL keeps your Bitcoin and other Crypto secure?

The ELLIPAL Titan has 3 main security points:

1) Air-gapped: From the chip set level, the ELLIPAL Titan does not support any type of connections (USB, Bluetooth, WiFi etc.). This means the ELLIPAL Titan cannot be attacked in anyway through a network or another device unlike other hardware wallets. Your crypto will always be kept safe and offline.

2) Anti-Tamper: The ELLIPAL Titan is built strongly to prevent physical hacks. The unit is built upon a durable metal frame, hackers cannot crack open the device without causing permanent damage to the unit. If a hacker try to crack open the unit, the system will automatically deletes itself, protecting your crypto.

3) Trustless Trust: The ELLIPAL Titan is all about being transparent. All QR code coming out of the ELLIPAL Titan can be verified with any QR code scanner. Users can prove to themselves that every QR code is correct and contains the right information. A large screen also allows user to double-check their transactions and make sure they are always sending to the correct address. Lastly, the ELLIPAL Titan allows private keys and recovery seed import from user's own trusted source so their is no need to trust ELLIPAL's code.

Can ELLIPAL be hacked?

The ELLIPAL Titan is 100% air-gapped, meaning there is no way for it to be hacked remotely. The ELLIPAL Titan also has anti-tamper protection to prevent offline attacks such as theft and supply chain attacks.

How transactions work?

Transactions are firstly created on the App. The App sends the transaction information to the ELLIPAL Titan via QR code. The ELLIPAL Titan then confirms the transaction within the software using your private key and issues a confirmation QR code. The App scans the QR code, confirms the transaction and your crypto is sent.You can also create an account directly on the App, this will create a hot wallet account.How transactions work?

Transactions are firstly created on the App. The App sends the transaction information to the ELLIPAL Titan via QR code. The ELLIPAL Titan then confirms the transaction within the software using your private key and issues a confirmation QR code. The App scans the QR code confirms the transaction and your crypto is sent. 


ELLIPAL Cold Wallet

ELLIPAL Titan is the best cold wallet

ELLIPAL is the only air-gapped wallet in the world, which has a full product line to ensure transactions with cryptocurrencies, buy and sell, store your bitcoins, stablecoins, cryptocurrencies and to ensure their security. All in one product -

You can order a ELLIPAL Titan Cold Wallet and bundles at the ELLIPAL official online store with a discount of up to 30% and receive shipping to any country in the world in 2-3 days. You can get a leather case for free!



Cryptotag

Learn more about the best TOP 30 hardware cryptocurrency wallets

You can see this list here.


TOP 29 Hardware Wallets, the Official Online Stores

1
Trezor hardware wallet, the official online store
2
Ledger hardware wallet, the official online store
3
KeepKey hardware wallet, the  official online store
4
BitBox02 hardware wallet, the official online store
5
CoolWallet hardware wallet, the official online store
6
ELLIPAL hardware wallet, the official online store
7
D'CENT hardware wallet, the official online store.
8
SafePal hardware wallet, the official online store
9
SecuX hardware wallet, the official online store
10
BC Vault hardware wallet, the official online store
11
BitLox hardware wallet, the official online store
12

Keystone hardware wallet, the official online store

13
ProKey hardware wallet, the official online store
14
NGRAVE hardware wallet, the official online store
15
Keevo hardware wallet, the official online store
16
GridPlus hardware wallet, the official online store
17
Ballet hardware wallet, the official online store
18
OPOLO hardware wallet, the official online store
19
Foundation (Passport) hardware wallet, the official online store
20
ImKey hardware wallet, the official online store
21
Tangem hardware wallet, the official online store
22
HashWallet hardware wallet, the official online store
23
Material Bitcoin hardware wallet, the official online store
24
ShieldFolio hardware wallet, the official online store
25
OneKey hardware wallet, the official online store
26
Blockstream Jade hardware wallet, the official online store
27
Cypherock hardware wallet, the official online store
28
Keepser hardware wallet, the official online store
29
NEXA hardware wallet, the official online store
ELLIPAL Titan is the best cold wallet

TOP 20 Best Metal Cold Storage Seed Phrase Backups, the Official Online Stores

Coinplate metal seed phrase backup