ELLIPAL Wallet Review – Cold Storage Wallet For Cryptocurrency

in today's tech review we're going over the all new le pail cryptocurrency Harbor wallet a wallet that's completely mobile based and isolated from the internet we'll explore all its safety features discuss how it actually works and see how it stacks up to some other popular hardware wallets hey guys welcome back this is Eric of investing apps TV and before we start today's review on the le pal wallet I would like to say a quick thank you to le pal for sending me their new wallet to review and share with you guys and of course as always if after the video you would like to learn more about the le pal wallet I'll link down below where you can find it online as well as my full list of its pros and cons but with that being said guys let's now start today's review the Le pal wallet is a new cold storage wallet for securely storing several types of cryptocurrency think of it as the digital equivalent of your physical wallet which holds cash the le pal wallet can currently hold several crypto currencies including Bitcoin aetherium Bitcoin cash and hundreds of ERC 20 tokens such as Umi schoo AOS bat tether golem status Tron and many more le pal says they will also continue to add support for more crypto currencies going forward as well the le pal wallet comes in roughly around four and a half inches by two and a half inches in size and roughly about point four inches in width for size comparison this is a samsung galaxy s7 right here and as you can see the le pal is smaller in height and it is roughly about the same thickness the wallet is designed with a four inch LCD color display that's fully touchscreen this means that all confidential information including passwords and recovery seeds are entered directly on the devices touch screen instead of on your computer where there could be malware or key loggers in fact the le pal is entirely isolated from the Internet the device has no Wi-Fi no Bluetooth no NFC and no data connection via USB it acts as a completely offline wallet and science transactions when you want to send cryptocurrency without any private information such as your private keys ever leaving the device so as you can see the le pal wallet does work up to the offline but what exactly separates it from other hardware wallets well most hardware wallets such as these three right here which are three of the most popular ones the treasure wallet the treasure T wallet and the ledger nano S cryptocurrency wallet all three of these are all PC on computer oriented meaning all three of them have to be plugged into a computer via USB if you want to send any of your cryptocurrency or if you want to trade any of it you always have to locate a computer and there is always the risk factor of what if that computer has any malware or viruses on it that might steal your information on your wallets now all these do have safety mechanisms in place but you still do have to locate a computer which can be inconvenient if you're on the go and mobile so what separates the Le pal wallet is that the Le pal wallet is completely mobile based you never plug this into your computer it uses it utilizes a mobile app in conjunction with the actual wall in itself and I'll explain how that works the le pal wallet works with its companion mobile app and they utilize QR codes to sign off on send transactions because of this you never need to connect your le pal to your computer in fact the only way to exchange information between the Le pal wallet and the le pal app is through scanning each's QR codes this means that both devices must be physically present for you to complete a transaction the le pal wallet also has a camera located on the back of the device that serves two purposes firstly it lets you scan QR codes when you need to enter a wallet address so if you ever need to send or receive cryptocurrency you never have to manually type in the address you can just scan its QR code using the built-in camera so it's pretty fast and efficient secondly the camera acts as a security mechanism because it scans QR codes to easily sign and verify transactions and essentially because your private keys are never exposed on a computer and all transactions are signed off on the le pal wallet you'll never have to worry about your private keys being compromised on a computer and again guys protecting your private keys means protecting your cryptocurrency so let's take a second to talk about the le pal app and how it actually works with the le pal wallet so this is a look inside the le pal app and the app is available on both iOS and Android devices now to sync your le pal wallet and the le pal app together you simply have to scan a QR code to connect them once connected with the le pal wallet you'll be able to use the app to view your cryptocurrency holdings as well as receive cryptocurrency but do keep in mind that if you want to send any cryptocurrency you will need both devices present in order to sign off on the transaction but not only does the le pal app you to view your cryptocurrency holdings and sign up on transactions it also has some other features built into the app as well so here we are inside the home dashboard of the LEP lap as you can see your total assets will be listed on the top of the app that'll conclude all your cryptocurrency holdings in u.s. dollar value now let's say you want to add a new cryptocurrency wallet to your le pal app it's very simple to do all you have to do is click that little plus icon on the top right and you want to click create account you can also click on create account if you want to create a brand new cryptocurrency wallet you can click import account if you want to import an existing recovery seat or you can click connect to cold wallet if you want to scan in an existing cryptocurrency wallet on your le pal device you simply have to click on connect cold wallet and I'm gonna bring my le pal device here and let's say I want to add my etherium wallet to the app simply click on aetherium eric's etherium and you click connect to app and you scan the QR code and just like that it's now been added to my app there it is Eric's aetherium wallet next up guys the Le pal app does have built in real-time prices if you click on markets that'll show you real time prices you can drag it down here to refresh the page it'll give you real-time prices for each cryptocurrency for all these cryptocurrencies you can track and monitor in real time so that's awesome next up they also have a news portal where you can view the latest news on different types of cryptocurrency and stay up to date on all things cryptic and one last cool feature guys that I want to mention what the Le pal app is that it can also act as a crypto currency exchange to instantly trade your cryptocurrency that you have on your le pal wallet so because both devices are linked together if you want to trade any of your crypto currencies all you have to do is simply click on it so let's say I wanted to trade some of my Bitcoin cash and I would go to the upper right corner where it says exchange click on exchange and as you can see it will take you inside the built in exchange where you can exchange your existing cryptocurrency for any one of these other cryptocurrencies in real time they actually do use their own platform to conduct the exchange and I did ask is there an exchange fee and they said that the exchange fee is basically already included in the exchange rate so that's pretty awesome guys you don't have to send off your cryptocurrency to another exchange to trade you can trade your cryptocurrency on your le pal wallet right from the app alright guys so now we're going to talk about the security features of the Le Pelle wallet which is probably the most important factor when it comes to hardware wallets because it's all about protecting your cryptocurrency so I do want to first mention guys that I am NOT an expert in encryption cryptography or you know Hardware security but I will try to explain this the best I can but if you guys would like to go more in depth on the actual security protocols that the le pal wallet uses I definitely encourage you to check out their website I'll link it down below where you can go more in-depth on the actual security protocols inside the hardware of this wallet but I'll try the best I can to explain it so firstly the hardware of the le pal wall is fully isolated from any internet connection because it only communicates via QR codes it also has true randomness and it uses entropy and data cryptography to ensure randomness of the private key whenever you generate a new wallet thirdly the device does have multiple checkpoints utilizing AES 128 which is an advanced encryption standard because of this all internal data is kept statically secure using the AES 128 high strength encryption algorithm fourthly when it comes to the chip security the le pal wallet uses trustzone security technology to encrypt all user data now beyond those internal security protocols the le pal wallet does also have multi step verification processes that need to be completed before being able to access and transact from your wallets the first of the multi step verification process being a login pattern basically you have to enter this pattern correctly it's like a smartphone lock screen you have to enter it correctly just to gain access inside the wallet and if the pattern is answered incorrectly after 10 times the entire device will wipe itself clean and reset itself to factory condition secondly when you're ready to sign off on a send transaction you will have to scan QR codes you'll need both your phone and your le pal wallet present to make a transaction because essentially you're going to have to use your le pal wallet to scan a QR code generated from your app and then you're going to have to use your app to scan a QR code generated from your le pal wallet and the last part of the multi-step verification process is your account password even after you successfully log into the device with a login pattern and you scan multiple QR codes you will need to enter your account password the one that you created when you first set up the account so really the four layers of protection there if your le pal wallet ever got stolen or you lost it you have four layers of protection and you would have plenty of time to recover your cryptocurrency on a new wallet using the 12 word recovery seat and move it out before the thief ever guessed all that information alright guys let's talk about the battery life and recharging the device itself so the actual battery life on this le pal wall is rated to last up to 650 hours in standby mode now to keep in mind that's just in standby mode that's not when it's in use so actual battery times may vary based on your use if you're using this thing at multiple times a day to send crypto currency or trade your coins and then it will lock the battery will last a lot less then if you're using it just for cold storage purposes and only plan to access it you know a couple times a week so when it comes to recharging the device you're gonna actually use the included USB to micro USB charging cable now I know what you're thinking wait a second I thought the le pal wallet was completely mobile based and isolated from heaven and plug it into a computer at all and what you're actually right I did have the same question though and I reached out to le pal and they confirm to me that the microUSB port on the wallet itself is actually just a charging port there's no data transfer so you can plug it into your computer to recharge it without ever having to worry about any private info being compromised however guys if you're still paranoid about plugging into a computer and I would totally get why it's not a problem because just the same you can use the USB charging cable to plug it into a USB wall adapter and connect it straight to your wall outlet and in fact I'd probably recommend that anyways because not only is there absolutely 0% chance of any data compromised plug it into a wall adapter it's also a much faster charge than charging it on your computer now when it comes to updating the le pal wallet you may be wondering how am I going to update the device without being able to connect it to a computer or connecting it to the internet so I actually did reach out to le pail on that question as well and they confirmed to me that whenever there's a firmware update for the device you're gonna actually get the firmware update directly from their website le pal com they'll have a download link where you could download the file you'll download it to a micro SD card and you'll pop open the back cover on the wallet and beneath the battery there's a micro SD card slot you'll insert the micro SD card there with the downloaded file the le pal wallet will do an intern security check to ensure that the file has not been tampered with and as long as everything checks out there it'll automatically update your le pal wallet all without connecting to the internet so at the end of the day what are my overall thoughts on the le pal wallet well after experimenting with it and playing with it for a few days I will say that I've come up with a list of pros and cons for it the first probe being that it's super convenient the fact that it's mobile based completely it's super convenient and allows you to be able to store cryptocurrencies send crypto currency trade your crypto currency all on the go without having to worry about locating computer and plugging it into a computer so it definitely gives you a factor of convenience and safety bundled into one the second probe is wallet is the multi verification process you know although there are a lot of steps I love that you have to use your le pal wall to scan a QR code on your phone you have to use a phone to scan a code on your wallet and you also have to enter an account password all that just a sign up light right on a transaction but it does give you a lot of security the third pearl for this wallet is that it has a nice colorful touch screen all private information can be entered directly on the touch screen with your fingers nothing ever has to be answered on a computer so that's definitely a third positive and the fourth Pro I like about this wallet is that the built in camera on the back allows you to scan QR codes if you have a mobile app like coinbase or any other you want to scan a QR code on a computer or on a phone it allows you to do that quickly and easily officially without ever having to worry about manually typing in an address because you know how long wallet addresses can be so that pretty much sums up my pros for this wallet lots of love now there are two cons that I have with this wallet the first con with the le pal is that you cannot set a passphrase on your wallet now if you're new to cryptocurrency you're new to harbor wallets you may not need a passphrase but a passphrase does provide a further level of security on your wallet and on your cryptocurrency now the other wallets we mentioned this video the treasure T the treasure and the less leisure nano s that you can put a passphrase on all of those wallets to provide a further level of security unfortunately at the moment you can't do that on the Le Pelle wallet secondly the second con is when it comes to restoring wallets on this le pail you can restore cryptocurrency wallets that you have on other devices however you can only restore twelve word recovery seeds now some wallets set up a 24 word coveri seed like on the original treasure one as well as the ledger nan OS but you won't be able to recover those and restore those on the le pail you can only restore a twelve word recovery C like the ones that go on the tresor t so that's something to keep in mind as well if you have an existing 24 record recovery seed you won't be able to restore it on this device but you can restore twelve word recovery seeds but with that being said guys i will say that this is a newer company this is a newer harvard wallet and i'm hoping that those features can be implemented in future updates but overall guys the most important takeaway from this video is that if you're investing in cryptocurrency you want to make sure that you at least have a harbor wallet because that's what gives you full control over your cryptocurrency and also gives you the most protection so if you're in the market for a new hardware wallet and you're looking for something more mobile based more on the go then you really can't go wrong with the le pel it is a newer wallet but like I said it does give you that freedom for on-the-go not having to locate a computer but let me know what you guys think about the le pal wallet do you think you might try it out or let me know what your favorite hardware wallet is down below in the comments and again if you'd like to learn more about the le pel wallet I'll link down below where you can find it online as well as my full recap of its pros and cons as always guys if you have any questions about this device feel free to leave your questions down below in the comments always happy to ask those for you anyways guys thanks again for watching and I'll see you guys in the next video

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