After you buy Bitcoin (BTC), Ethereum (ETH), or any other altcoin, do you leave it on the exchange or move it elsewhere for storage? This is a question that bugs the minds of many beginners in the cryptocurrency space.
However, the answer is straightforward. Just like you would store fiat currency in a physical wallet, you should also get a cryptocurrency wallet to store Bitcoin and other cryptocurrencies. The best solution to safe crypto storage is a cold wallet, which will store your coins offline.
This article will dive into the ten best cold wallets to store digital assets. Many cold wallets exist in the cryptocurrency market, and getting the one that best suits your needs can be challenging. This guide includes the most popular and easy-to-use wallets ideal for beginners and experts.
Understanding Cold Wallets
Before starting our list, it is best to understand cold wallets. Crypto wallets come in two main types: hot wallets and cold wallets.
Hot wallets will store your digital assets online, making it easy to retrieve your coins whenever you want to trade. While hot wallets are more popular and easy to use, they could be more secure. Some of the most popular types of hot wallets include MetaMask, Trust Wallet, and Coinbase Wallet.
Conversely, cold wallets will store your coins offline. A cold wallet is not connected to the internet, making it less prone to hacking attacks. They are also known as hardware wallets, as they mainly come as a USB drive.
Cold storage wallets are secure because a hacker will need access to your device and the wallet’s PIN or password to access your coins. However, this does not mean that cold wallets are 100% secure, as they are targets of phishing scams.
A phishing scam happens when a hacker tricks you into sharing your wallet’s password with them, which they will later use to access your coins. A hacker dupes users using a malicious website or email that appears similar to that of the official wallet provider.
Therefore, while cold wallets are secure, your first defense should be practicing safe internet practices. These practices include having an anti-virus program and not sharing your wallet’s details online.
How do Cold Wallets Work?
The distinct characteristic of cold wallets is that they keep your private keys offline. Wallets do not store actual crypto coins.
Instead, they store the private keys needed to access your crypto. Anyone with private keys can access the coins held in your wallet, which stresses the need to keep them safe.
A private key is a digital signature that allows you to access and control your crypto assets. If you store your keys offline in a cold wallet, you will lower the chance of them being accessed without authorization.
When transacting with a cold wallet, the transaction will be initiated offline to generate the necessary information.
After confirming the information, the transaction will be transferred to an online device through a USB device, such as a computer or smartphone. The transaction is later transmitted to the blockchain.
Top 10 Best Cold Wallets
Now that we know what cold wallets are and how they work, the next step is looking at the top ten best cold wallets to secure your digital assets. The best cold wallets for crypto include the following:
Ledger Nano X – Best Cold Wallet for Crypto Overall
At the top of our list is the Ledger Nano X cold wallet by Ledger. This cold wallet ranks among the best wallets to store Bitcoin and other cryptocurrencies. It secures your crypto offline and makes it easy to access using your phone.
Ledger Nano X also comes with the Ledger Live software, which allows you to check your balance and send and receive currency. It also supports more than 5,500 digital currencies, allowing you to diversify your crypto investment portfolio.
Ledger Live allows you to stake your coins if you are looking for a wallet provider that supports other services besides holding crypto. Staking is a process where one locks tokens on a staking platform for a specified period to earn returns.
With it, you can also access other services, such as decentralized finance (DeFi) apps and non-fungible tokens (NFTs).
Regarding physical appearance, the Ledger Nano X wallet does not fall short. It is built using stainless steel plastic. The lightweight wallet only weighs 34g, making it easy to carry around.
Pros
- It is lightweight
- It supports over 5,500 digital currencies
- It allows you to access your crypto assets on the go using Ledger Live
- The device can be used on both Android and iOS mobile devices
- It comes with Bluetooth connectivity
Cons
- This wallet can be expensive to acquire
Trezor Model T
If you want aesthetics and security when shopping for a cold wallet, consider getting the Trezor Model T wallet. This wallet has unique features, making it easy to use and access your crypto assets.
One of the appealing features of this cold wallet is the color LCD touchscreen. Unlike other cold wallets with physical buttons, the Trezor Model T can monitor your portfolio with a touchscreen. It also comes with a micro SD card slot for more convenience.
Besides the unique design, the second feature of the Trezor Model T is the robust protection feature. When you enable this wallet, it will generate a secret phrase that is stored on the SD card. It also lets you access the wallet app on mobile, desktop, and browser applications.
The Trezor Model T wallet also supports trading and coin-swapping activities. It also allows users to send and receive coins, making it an all-around wallet for crypto traders seeking a platform where they can perform many crypto activities.
The other exciting feature that makes Model T among the best cold wallets is the availability of an in-built staking tool that supports top staking coins. This option ensures that you can generate passive income as you hold your assets.
Pros
- It comes with an LCD touchscreen for easy usage
- It allows you to send, receive, and trade crypto assets using the wallet
- It has a Micro SD card for added protection
- It is supported on mobile, browser, and desktops
Cons
- This wallet has a high price tag
- It does not have Bluetooth connectivity
Ledger Nano S Plus
The other best cold wallet you should consider getting today is the Ledger Nano S Plus. This wallet is ideal for beginners because of the friendly user interface.
The main difference between Ledger Nano X and Ledger Nano S Plus is that the latter lacks Bluetooth connectivity.
When using Ledger Nano S Plus, you access your crypto assets using a USB-C cable linked to your smartphone or computer. Moreover, the Ledger Nano S Plus is also cheaper to acquire than the Ledger Nano X.
Like all Ledger devices, this wallet is also equipped with Ledger Live, allowing you to access your cryptos on the go. You can use this wallet to purchase cryptocurrencies using a credit card and trade or stake them on decentralized exchanges.
Despite being cheaper, Ledger Nano X also supports more than 5,500 coins. It also allows you to hold NFTs.
Like all Ledger devices, the Ledger Nano S Plus also benefits from a high level of security. Moreover, if your device malfunctions, Ledger allows you to get a replacement at no additional cost.
Pros
- It supports over 5,500 coins
- It is equipped with Ledger Live, allowing you to access crypto assets on the go
- It has a friendly user interface
- It is cheaper to acquire
Cons
- No Bluetooth connectivity
Ellipal Titan 2.0 Cold Wallet
The fourth cold wallet on our list is the Ellipal Titan 2.0. It is the best pick when looking for a high level of security because of the abundance of safety features. Moreover, its price is also more friendly than other wallet providers.
This wallet is built to ensure your digital assets are entirely stored offline. Therefore, it offers no Bluetooth, Wi-Fi, or cellular connectivity. It also comes with anti-tamper technology, which allows the wallet to self-destruct if it detects potential tampering. This feature makes it the best wallet for storing many coins offline.
Ellipal Tital comes with microSD cards that update the wallet offline. When you want to perform a transaction with this wallet, you can use a QR code scanner with an integrated camera for a better experience. For further security, it also contains two-factor authentication and a password that will lock the device.
This cold wallet also supports more than 10,000 coins and NFTs. It can do so without installing any applications. You can also link it with hot wallets such as MetaMask and Wallet Connect, allowing you to participate in decentralized finance (DeFi) activities.
Pros
- It comes with a Micro SD card for added protection
- It supports over 10,000 coins
- It has an anti-tampering feature
- It comes with 2FA and password protection
Cons
- It does not support Bluetooth, WiFi, or cellular connectivity
SafePal S1
The SafePal S1 cold wallet also ranks among the market’s most secure and trusted wallet providers. Besides offering a high sense of security, it also comes at an affordable price, making it convenient for beginners.
SafePal S1 also provides 100% air-gapped transaction signing. Your crypto assets will be offline without Bluetooth, Wi-Fi, or USB connectivity. To access the crypto assets stored on this cold wallet, you will use a QR scanner on its integrated camera.
This wallet also stores tokens and other digital assets, including NFTs. It also supports over 100 blockchains and more than 10,000 coins.
If you want a more convenient way to access your crypto assets on SafePal, consider using the SafePal app. The app allows you to trade and transfer crypto assets seamlessly. It also makes it easy to access decentralized applications, make cross-chain swaps, and perform yield farming.
Pros
- The wallet is affordable
- It comes with an in-built camera to scan QR codes
- It supports over 10,000 coins and over 100 blockchains
- It stores your digital assets completely offline
Cons
- It does not come with Bluetooth, WiFi, or USB connectivity
COLDCARD
The other cold wallet you should consider using is COLDCARD. COLDCARD is the best cold wallet for storing Bitcoin. It has robust security attributes, including air-gap support, ensuring the wallet operates offline.
The other defining feature of this wallet is the Micro-SD support, which allows users to back up the seed phrase of this wallet. This SD card ensures users have a backup for the seed phrase without having to note it down.
One of the differentiating security features of COLDCARD is the Duress Pin. It allows you to open a secondary wallet if coerced to do so. The Brick Pin makes the device unusable, giving you an additional layer of security.
You can access the digital assets stored on COLDCARD using a USB-C connector, which makes the wallet compatible with other devices. The wallet also comes in a clear plastic casing, improving its security by making it easy to detect tampering.
Pros
- It offers air-gap support that stores your crypto assets offline
- It comes with a Duress Pin and Brick Pin for added security
- The USB-C connector makes the wallet compatible with other devices
- The clear plastic casing makes it easy to detect tampering
Cons
- COLDCARD only supports Bitcoin
Trezor Model One
The Trezor Model One is the entry-level wallet model offered by Trezor. Despite targeting beginners, this wallet provides many security features that compete against more advanced wallets.
Trezor Model One is secured using a PIN that contains between 4 and 50 digits. Before any transaction happens on this wallet, a user must provide this PIN. When using the Trezor Model One wallet, accessing crypto assets with this PIN is possible.
When setting up your wallet, you must use a 12-24-word backup passphrase that gives you easy access to your assets. This option is helpful if someone forgets their PIN or the wallet gets lost.
In terms of convenience, Trezor Model One gives you a unique experience by connecting to the Trezor Suite. Doing so lets users view and manage crypto assets using their smartphone or laptop.
The other feature that makes Trezor Model One among the best cold wallets is the ability to support nearly 1,300 cryptocurrencies, including Bitcoin and Ethereum. While It allows you to transfer your coins seamlessly, the wallet does not come with the ability to support staking.
Pros
- The wallet is secured by a PIN
- The backup passphrase makes it easy to access your assets
- It supports nearly 1,300 cryptocurrencies
- It is friendly to beginners
Cons
- It does not support staking
BitBox02
The other crypto cold wallet storage to consider to protect your assets is BitBox02. This wallet, made by Swiss company ShiftCrypto, supports a limited number of assets, including Bitcoin, Ethereum, Litecoin, and ERC-20 tokens.
BitBox02 has amassed popularity for its modern and sleek design. It comes with an OLED screen that makes navigation easier. The touch sliders also make the wallet easy to use. The USB-C connector lets you easily access crypto assets through your computers or smartphones.
The process of setting up BitBox02 is also simple. You can connect the wallet to Android, Linux, Mac OS, or Windows devices. A password backs up the wallet, while you can use a microSD card to back up the wallet. While the backup provision ensures you do not lose your assets, it is still advisable that you note down the seed phrase.
BitBox02 does not fall short in terms of security. Its code is open-source, enabling experts to inspect any vulnerabilities. The Tor and full-node connections also help keep the IP addresses confidential. The USB-C support also makes the wallet compatible with new technologies.
Pros
- It comes in a modern and sleek design
- It offers a high level of security
- It is supported on Android, Linux, Mac OS and Windows
- The open-source code adds an extra layer of security
Cons
- It supports a limited number of cryptocurrencies
CoolWallet Pro
The other option for the best cold wallet storage in 2024 is ColdWallet Pro. This wallet comes in the form of a credit card, making it easy to carry around. The wallet can also be connected to external devices, such as mobile applications, through Bluetooth.
The CoolWallet Pro also offers support for exchanges. It comes with a feature known as WalletConnect that crypto traders can use to securely connect with centralized and decentralized exchanges. The wallet also supports trading non-fungible tokens (NFTs) through platforms such as Rarible and OpenSea.
The other top feature of this wallet is that it supports more than 12,000 coins. If one owns this wallet, they can use it to stake assets such as Polkadot, Tron, and Cosmos. This feature allows a crypto holder to generate additional income.
It is also easy to access the crypto assets held in this wallet because of the availability of a mobile app. The app can be used on both Android and iOS devices.
Pros
- It comes with a sleek design
- It offers Bluetooth connectivity for easy crypto access
- It supports over 12,000 coins
- It comes with a mobile app
Cons
- It does not provide desktop support
KeepKey
Last but not least, we have the KeepKey cold wallet. It is among the best cold wallets for those looking for a tool that they can also use to access Web3 decentralized applications (DApps). It also offers support for more than 7,200 cryptocurrencies.
When one wants to use the KeepKey wallet, one can connect it to a smartphone using a USB cable. Some of the DApps supported by this wallet provider include OpenSea, UniSwap, Aave, and Yearn.Finance.
The wallet also allows users to generate staking rewards and swap tokens. KeepKey also contains a 12-word recovery phrase, adding an extra layer of security.
Pros
- It supports over 7,200 cryptocurrencies
- The wallet supports leading DApps
- It supports staking and token swaps
- It comes with a 12-word recovery phrase for additional security
Cons
- It does not come with a mobile application
How To Choose The Right Cold Wallet
When looking for the proper cold wallet storage to store Bitcoin and other crypto assets, you should consider the following factors:
- Security
The first feature to consider before getting a cold wallet is security. The best cold wallet should offer a high level of security. It should keep your assets offline and reduce the possibility of tampering and unauthorized access.
- Ease of Use
The right cold wallet should also be easy to use. It should come with user-friendly features that make accessing crypto easy. Such features include a touchscreen, portability, and a user-friendly interface.
- Support for multiple cryptocurrencies
The best cold wallet storage should also support multiple cryptocurrencies. This will ensure you do not have to look for a new wallet each time you diversify your crypto investment portfolio.
In Summary
Cold wallets are the safest way to store Bitcoin and other cryptocurrencies. Such wallets will keep your assets in offline platforms, where hackers and other malicious actors cannot access them.
When looking for a cold wallet, you can be overwhelmed by the many choices available today. Each wallet provider has unique features and qualities that suit a particular set of crypto investors.
If you want a cold wallet to store your crypto, consider the user interface, the number of supported cryptocurrencies, ease of use, and security.
FAQs
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What is a cold wallet?
A cold wallet is a type of digital asset storage that stores your crypto assets offline. Cold wallets are more secure than hot wallets as they do not store your coins online.
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Are cold wallets immune to hacks?
Cold wallets offer a higher level of security than hot wallets, but they are not entirely immune to hacking attacks. The wallets can still be compromised through phishing campaigns.
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Do all cold wallets have Bluetooth connectivity?
Some cold wallets come with Bluetooth connectivity, making it easy for you to access crypto assets. However, some come with air-gap support to reduce the risk of hacking exploits.
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Which is the best cold wallet?
Some of the best cold wallet providers include Ledger, Trezor, Ellipal Titan, KeepKey SafePal S1, BitBox02, and COLDCARD.
