Table of Contents
November 7, 2024
November 7, 2024
Table of Contents
We’ve scouted the web to find 8 of the best cold wallets for crypto storage to help you securely store your funds offline.
As blockchain technology continues to evolve, the risk of theft by malicious actors rises by the day. It is easier now more than ever for you to lose crypto funds stored in hot wallets to ransomware and viruses.
With cold crypto wallets, you don’t have to worry about this.
More importantly, you can store huge amounts of crypto funds in them with a bit more peace of mind.
In this article, we describe cold crypto wallets and the different types available to help you pick the best cold wallet for crypto storage.
Let’s dive into the details!
Cold cryptocurrency wallets are a type of crypto storage that stores the private keys to your cryptocurrencies offline yet in accessible locations. They contrast sharply with another category of cryptocurrency wallets called “hot wallets,” which remain connected to the internet.
It is important to note that both cold and hot cryptocurrency wallets do not directly keep your cryptocurrencies. Instead, they only store the private keys required to access the digital assets, which are perpetually stored on the blockchain.
Cold cryptocurrency wallets are designed to be practically invulnerable to hacks and unauthorized access. Their disconnection from the internet makes this possible. As a result, they are considered one of the safest storage solutions for crypto assets.
Some types of cold crypto wallets include the following:
Hardware wallets store private keys offline on physical devices that resemble USB flash drives. They serve as your personal cryptocurrency vault, and you can hold and carry them around like a normal flash drive.
These gadgets come with partner applications through which you can access your digital assets on your smartphone or desktop devices.
Hardware wallets are built to be water-proof, virus-proof, and highly secure. As the authorized user, you can only access them or effect transactions after satisfying pre-set multi-signature (multi-sig) requirements.
A blockchain development company like Debut Infotech can help you develop these kinds of wallets for your users.
These are paper documents with public and private keys to your blockchain account printed on them. A paper wallet usually contains a QR code that can be scanned to access your crypto funds. As such, they represent basic and low-cost cold storage options.
The fact that the keys are printed on paper often means the owner can easily lose, damage, or destroy them. This presents a risk of permanently losing access to the crypto funds. Therefore, it is advisable to be extremely careful when using paper wallets. Nonetheless, they are one of the simplest forms of cold crypto wallets.
Sound wallets record and encrypt your crypto wallets in audio files inside compact discs (CDs) or detachable USB drives. To access the keys stored in them, the encrypted code has to be interpreted using high-resolution spectroscopy applications.
These cold wallets are generally considered cumbersome and cost-intensive. Yet, like paper wallets, they are still susceptible to physical damage.
Deep cold storage wallets are extreme types of cold wallet storage solutions. They involve using burdensome and time-consuming methods to further make the other cold storage solutions discussed above inaccessible.
This enhanced form of cold storage solution adds layers of protection to private keys already stored in cold storage, such as burying a hardware wallet, sound wallet, or paper wallet. You can also store said cold crypto wallets in a third-party vault service that requires a recovery phrase for access.
Deep cold storage wallets are a viable option for storing large amounts of crypto assets that you don’t want to access anytime soon.
Different providers offer various cold storage options to help you store your crypto assets offline securely. The following are the 8 best cold wallets for crypto storage.
Cold wallet type: Hardware
Cryptocurrencies supported: 5500+ cryptocurrencies
Mobile app: Android and iOS apps
Price: $149
Certification level: First Level Security Certification (CSPN)
The Ledger Nano X is an advanced Bluetooth-enabled hardware wallet that stores over 5500 cryptocurrencies and altcoins. It is one of the latest cold crypto storage solutions by the Ledger brand.
It safeguards crypto private keys using a CC EAL5+-certified chip and Ledger’s novel operating system. Users can access their digital assets using a 4 – 8 digit PIN code and a 24-word recovery seed phrase that they choose when setting up the device.
The Secret Recovery Phrase helps you regain access to your digital assets even when you misplace the wallet. And even in situations where your Secret Recovery Phrase is lost, damaged, or out of reach, Ledger offers a digital backup service known as Ledger Recover, which helps you restore access to your crypto wallet.
You can manage your crypto assets on the Ledger Nano X either by using the Ledger Live app, connecting to your smartphone via Bluetooth, or connecting to your desktop device via USB ports. As such, it delivers an on-the-go experience characterized by easy access to your funds anywhere, anytime.
This cold crypto wallet also has a small OLED screen that confirms transactions and facilitates navigation.
Cold wallet type: Hardware
Cryptocurrencies supported: 9000+ cryptocurrencies across 10+ blockchains
Mobile app: None yet
Price: £159
Certification level: CC EAL6+
The Cypherock X1 hardware wallet is built for use both as a simple hardware wallet and a deep cold storage wallet.
Here’s why.
It comes with an XI vault and four X1 cards.
The vault doesn’t store all your private keys. Rather, you need to use it in conjunction with at least two of the X1 cards to gain full access to your keys. As such, you can decide to store these different components in separate geographical locations to guarantee the full security of your funds.
The X1 vault is equipped with a dual-chip architecture, which facilitates offline computation. It also has an OLED display for visual transaction verification. You can navigate this display screen using a 5-way joystick that functions like a gaming console.
On the other hand, the X1 cards are NFC-based (Near Fields Communication) and encrypted with CC EAL 6+ secure elements. These high-grade materials facilitate contactless communication between the cards and the vault and ensure the safe storage of your digital assets for at least 20 years.
The Cypherock X1 comes with the CySync app, which serves as a unified platform for managing all your crypto funds.
Here’s where it gets interesting.
Cypherock X1 is an open-source product. As such, the cold crypto wallet’s software can still function if Cypherock goes out of business.
Pretty cool.
Cold wallet type: Hardware
Cryptocurrencies supported: 1000+ cryptocurrencies
Mobile app: None yet
Price: £159
Certification level: CC EAL6+, CE and RoHS-certified
Trezor Model T is a versatile and user-friendly cold crypto wallet for storing and managing your crypto assets. Its sleek and stylish design is amplified by elegant color touchscreen security functionality. This design allows you to directly confirm and manage your crypto portfolio on a bright 1.54” LCD screen.
However, chic isn’t Trezor’s only focus with this wallet.
The device also prioritizes security by using an open-source infrastructure that guarantees protection against real-world threats. Furthermore, authorized users can only gain access via a pre-set passphrase and pin.
And in the event of a lost, swiped, or broken wallet, Trezor provides standard backup via an uncomplicated list of 12 words. It also allows you to take things up a notch with the Shamir Backup, which requires several word lists.
If you purchase this wallet, you’ll receive the Trezor Model T hardware wallet, a USB-C and USB-A cable, two Wallet backup cards, a magnetic dock, and two Trezor stickers.
Cons
Cold wallet type: Hardware
Cryptocurrencies supported: 7217 cryptocurrencies across 348 blockchains
Mobile app: None yet
Price: $78
Certification level: Not specified
The KeepKey premier hardware wallet is an all-in-one package that offers you stress-free security for an ever-growing list of cryptocurrencies. It gives you manual control and visibility of crypto transactions via a large display screen and a confirmation button.
It ensures you enjoy the full advantages of a hardware wallet by allowing you to generate and manage your private keys offline. This way, you can be fully protected against computer vulnerabilities and viruses.
KeepKey also delivers a straightforward backup and recovery process by generating a 12-word recovery sentence during initialization. As with most other hardware wallets, this recovery sentence helps you regain access to your private keys when you lose or break your KeepKey.
For direct crypto transactions, KeepKey has a native Thorchain integration that facilitates effortless exchanges.
Cold wallet type: Hardware
Cryptocurrencies supported: 5500+ cryptocurrencies
Mobile app: Supported
Price: $79
Certification level: CC EAL 6+
Yet another hardware wallet offering from the Ledger line, the Ledger Nano S Plus is arguably Ledger’s most in-demand product. It weighs 21g and is made from brushed stainless steel and plastic.
With a built-in USB-C and battery-free connection, you can view your crypto portfolio from a bird’s-eye view on the Ledger Live desktop. You can store and manage over 5,500 cryptocurrencies from this interface.
It guarantees the security of your crypto assets using the Ledger OSTM, a cutting-edge Secure Element Chip.
Additionally, users have to authorize transactions using a PIN code and a 24-word backup passphrase. The hardware wallet features a Trusted Display Screen that allows only you to approve transactions.
Just like the Ledger Nano X, you can always access, manage, and retrieve your crypto assets using your Secret Recovery Phrase if you damage or lose your Ledger Nano S Plus hardware wallet.
Cold wallet type: Hardware
Cryptocurrencies supported: 10,000+ cryptocurrencies across 40+ blockchains
Mobile app: Supported
Price: $169
Certification level: CC EAL 5+
The Ellipal Tipan 2.0 cold wallet is an air-gapped crypto wallet that eliminates the need for a USB or Bluetooth connection to access your crypto funds. It replaces these kinds of connections with QR codes to completely avoid the risks of online attacks or hacks.
It features a 4-inch vivid full-screen display that allows you to see your entire signature, allowing you to verify all transactions accurately. This interface is very user-friendly and feels like a mobile phone.
To make things even easier, the Ellipal Titan 2.0 accommodates 5 mnemonics and 5 private key accounts, allowing you to access and manage your entire crypto portfolio in one place. This covers over 10,000 coins and tokens across 40+ blockchains, NFTs, and even decentralized apps (dApps).
It provides ironclad security for all these assets using the EAL5+ integrated security chip, PIN and Password protection, and a secret secondary wallet. Even in extreme conditions, the Ellipal Tipan manages to keep your assets safe by supporting your backup account with a separate password from the one you’ll be using for entry. When it detects any tampering in these conditions, it is equipped with a PCI-level self-destruction functionality that automatically erases your personal information.
While its air-gapped feature protects you against online attacks, the wallet also has a full-metal sealed body that protects you against all physical, supply chain, and evil-maid attacks.
Absolutely solid!
Cold wallet type: Hardware
Cryptocurrencies supported: 1,500+ cryptocurrencies
Mobile app: Supported
Price: $163
Certification level: Security audit by Census Labs
BitBox02 is a Swiss-made cold crypto storage wallet with pioneering security features and a delightful design.
Its dual-chip security architecture runs on fully open-source security code. This architecture comprises a microcontroller chip and a separate secure chip. Both work together to encrypt and store the wallet’s seed. For maximum security, the wallet requires answers to three random secrets, each stored on both chips, the last one being your password.
BitBox02 provides physical protection with numerous features, such as a physical display that allows you to tap, swipe, and slide directly. It assumes other electronic devices like your phone or laptop can be compromised, so you have to enter the password on the hardware wallet itself rather than the mobile app.
In the event that you mistakenly enter the wrong words, BitBox02 also ensures that you don’t lose your funds by backing your seed phrase to a micro SD card. When you finally re-enter the correct passwords, you can also write down the 24 recovery words against subsequent entries.
You can connect to any Dapp, from decentralized exchanges and DeFi applications to NFT marketplaces, using BitBox 02 as long as it is on the Ethereum marketplace.
Cold wallet type: Hardware
Cryptocurrencies supported: 1,500+ cryptocurrencies
Mobile app: Supported
Price: $49.99
Certification level: EAL 5+
Like the Ellipan Titan 2.0, the Safepal S1 hardware wallet fully stores your private keys offline using a 100% air-gapped signing mechanism. This means it doesn’t allow Bluetooth, Wi-Fi, USB, or NFC connections to any devices. You can only gain access to your funds by scanning a QR code.
This fully decentralized cold storage wallet allows you to initiate crypto transactions on the Safepal app or its browser extension. It supports over 10,000 crypto coins and NFTs across 19+ blockchains.
Safepal S1 uses a combination of two-factor authentication (2FA), a key deletion pool, a PIN code, and recovery seed phrases to ensure that only licensed users gain access to a blockchain account, making it one of the safest cold wallet options.
Here’s the best part.
It sells for just $49.99!
Built like a credit card, the Safepal S1 has an understated design featuring just the QR code scanner, a large color screen, and a D-pad controller for smooth navigation. Thanks to this sleek layout, you can easily manage transactions on the crypto vault.
The hardware wallets described above are the best crypto wallets for cold storage. From intuitive user experiences to cutting-edge security features, they ensure maximum safety of your blockchain account’s private keys. More importantly, they also provide adequate provisions for regaining access to your funds if you damage the wallets or forget your passphrases.
At Debut Infotech, we replicate and enhance the crucial features of these cold storage wallets. As a trusted crypto wallet development company, we create secure, blockchain-based wallets that help you effectively manage digital assets while ensuring top-notch security, usability, and recovery options.
Not only this, but we also offer white label crypto wallet development solutions, allowing you to launch a custom-branded wallet with advanced security and privacy features. Our white-label solutions are designed to help businesses quickly enter the market, offering full customization to meet your branding needs while reducing time-to-market and development costs. With Debut Infotech, you get robust, scalable, and secure wallet development services that cater to both enterprise and startup requirements.
Cold storage is the safest crypto storage method. It is less vulnerable to online threats and can store large amounts of cryptocurrencies for a long time.
The best cold wallets for crypto include the Ledger Nano X, Cypherock X, Trezor Model T, KeepKey, Ledger Nano S Plus, Ellipal Titan 2.0, BitBox02, and Safepal S1. These wallets have highly regarded features and security measures that guarantee the long-term safety of crypto funds.
Bitcoin Core (also known as Bitcoin-Qt) is the first and oldest crypto wallet. It was developed by the pseudonymous Satoshi Nakamoto and was released in February 2009.
The Ledger Nano X, Trezor Model T, Ledger Nano S Plus, Ellipal Titan 2.0, BitBox02, and Safepal S1 are some examples of cold wallets that allow users to earn daily rewards by staking their cryptocurrencies.
When choosing a cold wallet, you should look out for the presence of essential security features like 2FA and the use of certified security chips. Additionally, you also want to select wallets from reputable brands offering wide cryptocurrency support, a friendly user experience, and a portable design. Finally, ensure the wallet price is within your budget.
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