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10 Best Cold Wallets for 2024 – Safest Crypto Cold Storage Solutions

Kliment Dukovski
Last updated: | 28 min read
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
best cold wallets

Cold wallets, also known as hardware wallets, are one of the safest storage solutions for your cryptocurrencies. That’s because they store your wallet’s seed phrase offline while being encrypted. In other words, if a hacker compromises your computer, they won’t be able to see the seed phrase and steal your funds.

What’s more, hardware wallets require that you authorize each transaction by pressing physical buttons. So unless someone holds your hardware wallet and knows your PIN number to unlock it, they can never transfer funds out of your cold wallet.

Given that over $1.75 billion worth of crypto was stolen in hacks last year, having a cold storage wallet could have saved you from being in such a statistic. To find the best cold wallets this year, we compared multiple options in terms of features and ease of use. Read more to find our top picks.

The Top 10 Cold Wallets Ranked 

In 2024, cold wallets remain the gold standard for cryptocurrency security, with top contenders like Ledger Nano S Plus and Trezor Safe 3 leading the market.

  1. ELLIPAL Titan Cold Wallet — Best cold wallet on the market supporting over 10k cryptos with top-notch security features.
  2. Ledger Nano S Plus — Support for over 5,500 cryptocurrencies, comes with the best companion app.
  3. Trezor Safe 3 — Obscure your crypto transactions or use Shamir Backup to restore your account.
  4. Ledger Stax — A premium cold wallet designed for NFT enthusiasts, comes with a large E Ink touchscreen.
  5. Trezor Model T — Trezor’s premium model with a micro SD card slot and LED touchscreen buttons.
  6. Blockstream Jade — A Bitcoin-only wallet with low price, supports multisig technology.
  7. SafePal S1 — Popular crypto wallet with air-gapped transaction signing and QR code scanning camera.
  8. SecuX V20 — Cold wallet with Bluetooth connectivity and over 10,000 supported coins and tokens.
  9. CoolWallet Pro — A credit card-sized crypto wallet with a strong battery that lasts up to two weeks.
  10. ColdCard — A Bitcoin-only cold wallet with open-source code and fully air-gapped operation.

The Best Cold Crypto Wallets Reviewed

Let’s explore the most popular cold storage wallets that crypto investors are using right now to secure their altcoin holdings.

1. ELLIPAL Titan Cold Wallet — Overall Best Cold Crypto Wallet With Dual-layer defense, CC EAL 5+ Certified

ELLIPAL Titan 2.0 Cold Wallet is one of the leading cold wallets due to its safety features and usability with an affordable price compared to similar cold wallets. For starters, the Titan Cold Wallet is designed with 100% security in mind. It’s air-gapped, meaning there’s no Bluetooth, WiFi or cellular connection, and it uses anti-disassembly and anti-tamper technology that it “self-destructs” if it detects tampering. ellipal titan cold wallet

The wallet firmware is updated offline using microSD cards and you don’t need a USB connection to update it. Moreover, transaction signing is done via QR code scanning with an integrated camera for a secure and fully offline experience. This alone removes the risk of connecting to a compromised computer. To further secure your wallet, activate two-factor authentication, a PIN combination or a password to lock your device.

Another cool feature is the secret secondary wallet that you won’t find with other cold wallets. What this does is it allows you to set up a second wallet that shows up when you unlock your device. In case you’re physically threatened, you can show the second wallet where you can hold a small amount to fool the attackers.

As far as the cryptocurrencies you can store, ELLIPAL Titan 2.0 Cold Wallet supports over 10,000 coins and NFTs without installing any apps, which is typically required with other cold wallets. This makes it straightforward to manage your portfolio regardless of which coins and tokens you store, such as Bitcoin, Solana, or Dogecoin.

This cold wallet is compatible with MetaMask and WalletConnect, meaning you can seamlessly connect your cold wallet to dApps if you want to engage in yield farming or trading in external decentralized finance protocols. Because of all it has to offer for a competitive price, the ELLIPAL Titan 2.0 Cold Wallet is the best option for securing your digital assets in 2024. Pros

  • Anti-tampering removes your information from the device
  • 10,000 coins and NFTs supported
  • Micro SD card protection

Cons

  • No Bluetooth or WiFi connection
Price $169 depending on your region
Supported coins 10,000
Bluetooth No
Companion online wallet Yes
Our rating 4/5

2. Ledger Nano S Plus — Supports Over 5,500 Cryptocurrencies And Offers the Best Companion App

This is Ledger’s entry-level wallet. But don’t let this fool you. Ledger Nano S Plus offers the same functionality as the more expensive Ledger Nano X. The main difference between the two is that the Ledger Nano X has Bluetooth and it feels like it’s made with higher-quality materials.

Ledger Nano S Plus

The app that all Ledger devices use is called Ledger Live. This is both a mobile app and a desktop app. You can use it to buy coins with a credit card, swap them using decentralized exchanges like 1Inch and others, or stake your coins. Ledger Nano S Plus supports over 5,500 coins, which is the same as the more expensive Nano X version, and you can also hold NFTs in your wallet.

Since it doesn’t support Bluetooth connectivity, you can connect your Ledger cold wallet via a USB-C cable with your smartphone or computer. This shouldn’t be a big deal if you mostly use your Ledger wallet for storing coins. If you plan to actively transfer coins or trade, the Ledger Nano X could be the better option due to its Bluetooth support. Ledger’s support is top-notch. If something happens to your device, say it breaks or malfunctions, Ledger will send you a replacement free of charge. All this makes Ledger Nano S Plus the best cold wallet in 2024. Pros

  • Ledger Live mobile and desktop app
  • Supports staking, swapping and buying with a card
  • Over 5,500 coins and tokens supported
  • Multiple accessories to customize your Ledger

Cons

  • No Bluetooth
  • No wallet seed phrase backup recovery yet
Price ~$79 depending on your region
Supported coins 5,500
Bluetooth No
Companion online wallet Yes
Our rating 5/5

3. Trezor Safe 3 — Obscure Transactions & Restore Your Seed Phrase if Lost

Trezor Safe 3 is the best offering from Trezor because it offers the same functionality as the most expensive cold wallet but at an affordable price. Trezor Safe 3 comes with a monochromatic OLED screen where you can see the transaction information, and USB-C connectivity since it doesn’t have Bluetooth. This shouldn’t be a dealbreaker, though, as cold wallets are designed for long-term storage and not active trading.

Trezor Safe 3

Some of the safety features of this Trezor cold wallet include the Secure Element (EAL6+) and the passphrase to unlock your device, which makes it hard for hackers to steal your assets. Another feature of Trezor cold wallets is the Shamir Backup, which splits your seed phrase into up to 16 pieces to help you recover your seed phrase if you lose it, meaning if you lose one piece or it gets stolen, you can still recover your assets.

As a companion to this Trezor cold wallet is the Trezor Suite app available on mobile, desktop and browser. Via the app, you can send, receive and trade over 8,000 cryptocurrencies Unlike most cold wallets, Trezor has open-source software, which can be examined by anyone to ensure it’s safe. Another interesting feature is that you can go incognito with Coinjoin, which lumps multiple transactions into one, thus obscuring your transactions, and you can protect your identity with Tor. Pros

  • Trezor Suite mobile, browser and desktop app
  • Supports sending, receiving and trading via the app
  • Affordable price

Cons

  • No Bluetooth
Price ~$79 depending on your region
Supported coins 8,000
Bluetooth No
Companion online wallet Yes
Our rating 4/5

4. Ledger Stax — Store Over 5,000 Cryptocurrencies, Wireless Charging & Bluetooth Connectivity

Ledger Stax is one of the most innovative cold wallets you can find. It looks like a small ebook reader because of its curved E Ink touchscreen. Because of that, it is mostly designed for storing your NFT collections because you can put your favorite NFT on the screen like an ebook cover. Aside from its interesting design, it supports wireless charging, Bluetooth connectivity and it’s highly customizable. This means you can connect your Stax with your Ledger Live mobile app and sign transactions without using cables.

Ledger Stax

As the name suggests, you can “stack” multiple Stax wallets one on top of the other, if you have multiple wallets. For example, one Stax could hold your Ethereum NFTs, a second one could store your Solana NFTs, and a third could store your coins. Of course, one Stax is enough to hold all of the above. But if you want to have multiple Stax’s, say one for yourself, another for a family member, all with different screen images, you can easily do so.

Similar to the other two Ledgers, Stax uses the Ledger Live mobile and desktop app to swap coins, stake coins or buy them with a card. Also, the Ledger Live app is used to update your cold wallet’s firmware. With all these features and functionality, Stax comes with an eye-watering price of around $279, which is on the higher end compared to other cold wallets. Despite that, if you are an NFT enthusiast and you can afford it, Stax is one of the best cold wallets you can get. Pros

  • Ledger Live mobile and desktop app
  • Supports staking, swapping and buying with a card
  • Bluetooth and wireless charging
  • E Ink touchscreen

Cons

  • More expensive than other cold wallets
Price ~$279 depending on your region
Supported coins 5,500
Bluetooth Yes
Companion online wallet Yes
Our rating 4/5

5. Trezor Model T — Color Touchscreen Buttons & Added Protection Via MicroSD Card Encrypted PIN

Trezor Model T is Trezor’s premium model that comes with a color LCD touchscreen instead of physical buttons and a micro SD card slot. The first is mostly a design feature, while the second is a premium protection feature. The way it works is, if you enable it, a randomly generated secret is stored on the SD card that you can insert into your Trezor Model T for extra protection. Everything else is the same as with the other Trezor models. For example, you get access to a mobile, desktop and browser app called Trezor Suite. This comes with coin swapping and trading, as well as sending and receiving coins.

Trezor Model T

If you want to obscure some of your transactions, you can do so with Coinjoin, which, as the name suggests, “joins” multiple transactions into one to make it hard for outsiders to tell which transaction was yours. This feature is available to the other Trezor models as well.

Some of its safety features include the Secure Element (EAL6+) and the passphrase to unlock your device, which makes it hard for hackers to steal your assets. Another safety feature of Trezor cold wallets is the Shamir Backup. This splits your seed phrase into multiple pieces and even if one piece gets lost or is stolen, you can still recover your assets with the remaining pieces. Pros

  • Trezor Suite mobile, browser and desktop app
  • Supports sending, receiving and trading via the app
  • LCD Touchscreen
  • Micro SD card protection

Cons

  • No Bluetooth
Price $219 depending on your region
Supported coins 8,000
Bluetooth No
Companion online wallet Yes
Our rating 4/5

6. Blockstream Jade — Bitcoin-Only Crypto Cold Wallet With Multisig Technology

Blockstream Jade is a Bitcoin-only cold wallet that comes with several unique features, including a camera for scanning QR codes and multisig technology that requires multiple keys to send a transaction, which makes it even harder for hackers and scammers to steal your funds. With multisig, there are two keys: the first key is held on your device, which is backed by your seed phrase, and the second key is held on the Blockstream Green servers, which are protected by two-factor authentication.

Blockstream Jade

Blockstream Jade’s QR camera is another safety feature that allows you to scan QR codes and sign transactions without connecting to any other device like your computer or smartphone. Despite that, this cold wallet also comes with Bluetooth and USB-C connectivity. To manage your crypto portfolio, there’s a wallet called Blockstream Green, which supports multisig security and Tor for privacy. With all these features and a price of $64.99, this is a cold wallet worth considering especially if you only want to hold Bitcoin in your crypto portfolio. Pros

  • Affordable price
  • Bluetooth
  • Camera for scanning QR codes
  • Multisig support

Cons

  • Doesn’t support altcoins
Price $64.99
Supported coins Bitcoin
Bluetooth Yes
Companion online wallet Yes
Our rating 4/5

 

7. SafePal S1 — Over 10,000 Coins and Tokens Supported For Just $49.99

SafePal S1 is one of the most affordable cold wallets you can get. It offers 100% air-gapped transaction signing, meaning there’s no Bluetooth, WiFi or USB connection. It can store coins, tokens and NFTs of over 100 blockchains, including Bitcoin, Ethereum, Solana, Ripple, Binance and more. But to manage your portfolio, you need to download the SafePal app.

SafePal S1

The SafePal app is designed to simplify your crypto and NFT management, meaning you can transfer and trade your crypto assets fast and easily. You can access decentralized applications or make cross-chain swaps and yield farms with DeFi and Binance Earn products. Unlike most cold wallets that require some sort of connection to a computer or a smartphone to approve transactions, SafePal 1 uses QR scanning with its integrated camera to provide 100% air-gapped transactions. Pros

  • Affordable price
  • 100% air-gapped
  • Camera for scanning QR codes
  • 10,000 coins, tokens and NFTs supported

Cons

  • No Bluetooth
Price $49.99
Supported coins 10,000
Bluetooth No
Companion online wallet Yes
Our rating 4/5

 

8. SecuX V20  — Color Touchscreen, Bluetooth And Over 10,000 Coins Supported

SecuX V20 is a solid crypto cold wallet that offers the same functionality as some of the leading cold wallets at a competitive price. This cold wallet comes with a Bluetooth connection, meaning you can sign transactions wirelessly from your phone or computer. It also comes with an LCD touchscreen, making monitoring your portfolio easy as you don’t need access to your phone or computer to track token prices.

SecuX V20

The device’s security is enhanced with a PIN unlock or a passphrase. Unless someone knows either of these, they won’t be able to access your cold wallet. With SecuX web and desktop app, you can send and receive coins and manage your crypto portfolio. With the SecuX mobile apps for iOS and Android, you can update your device’s firmware. Pros

  • Bluetooth
  • LCD touchscreen
  • Over 10,000 coins and tokens supported

Cons

  • App isn’t as user-friendly as competitor apps
Price $139
Supported coins 10,000
Bluetooth Yes
Companion online wallet Yes
Our rating 4/5

 

9. CoolWallet Pro  — Credit-Card-Sized Cold Wallet With Integrated Staking

CoolWallet Pro is a cold storage crypto wallet that looks like a credit card. Despite the minimal size, it can connect to your mobile app via Bluetooth where you can send, receive and even stake your coins. The wallet supports Binance DEX, WalletConnect used for safe connection with decentralized and centralized exchanges as well as support for NFTs via OpenSea and Rarible.

Cool Wallet Pro

On top of supporting over 12,000 coins, Cool Wallet Pro supports staking for Polkadot, Tron and Cosmos. What’s more, you don’t need to have your wallet constantly connected to your phone. You can charge it and the battery will hold up to two weeks without charging, which is more compared to similar cold wallets. Cool Wallet Pro’s mobile app is compatible with Android and iOS devices. But there’s no desktop or web app at the moment. Pros

  • Bluetooth
  • Sleek design
  • Over 12,000 coins and tokens supported

Cons

  • No desktop companion app
Price $149
Supported coins 12,000
Bluetooth Yes
Companion online wallet Yes
Our rating 4/5

10. ColdCard — Secure Bitcoin-Only Wallet With Full Air-Gapped Operation 

ColdCard is a Bitcoin-only cold wallet that comes with several security features, including dual secure element, true air-gap operation and an open-source code where you can verify that all is secure and you aren’t being tracked in any way. One of it’s best features, however, is the air-gap operation. Unlike other cold wallets that have partial air-gap, ColdCard does it fully throughout its life cycle: you can generate your seed and sign transactions offline.

coldcard cold wallet

This hardware wallet comes with a numeric keypad for fast PIN unlock and an OLED screen with transaction details. To backup your devices and for data storage, there’s a microSD card slot. This also allows you to sign transactions offline on sneakernet. The device can also act as a virtual USB disk when connected to your smartphone, which allows sending PSBT files (Partially Signed Bitcoin Transaction) in a simple, drag-n-drop way. Pros

  • Fully air-gapped
  • Open-source code
  • Numeric keypad

Cons

  • Bitcoin only
  • Other Bitcoin wallets are cheaper
Price $157.94 depending on your region
Supported coins 1
Bluetooth No
Companion online wallet No
Our rating 4/5

 

What is a Cryptocurrency Cold Wallet?

A crypto cold storage wallet, also known as a hardware wallet, is a device with specifically designed hardware to encrypt and store your wallet’s seed phrase offline and in a safe environment. Hot wallets, on the other hand, store your seed phrase online. If a hacker has access to your computer, they can see your seed phrase and use it to steal your funds.

Cold wallets typically have physical buttons, or touchscreen buttons depending on the device, which are used for signing transactions on the blockchain. This makes it hard for scammers and hackers to steal your funds unless they physically hold the device. What’s more, each cold wallet is locked with a PIN number, a passphrase or 2FA. The fraudsters will also need to know that to unlock your wallet.

Ledged crypto app

Using a companion app, these wallets can store crypto assets including cryptocurrencies and NFTs. You can also trade, swap, stake and more with these apps, giving cold wallets the same functionality as hot wallets but with added security. What’s more, you can connect your cold wallet to a hot wallet like MetaMask or Phantom, which makes connecting to DeFi applications seamless. For every transaction you make, you will have to sign it with the buttons on your device.

Our Methodology  – How We Rated the Best Crypto Cold Storage

In order to present our list of the best crypto cold wallets, we developed a methodology that involved looking at several key features. The best cold storage wallet solutions are the ones that tick the most boxes on this list.

  • Security Features – Naturally, this was our highest priority. We checked that the wallets use strong encryption methods to protect your private keys, allow you to set a secure PIN or password to access the device and the information contained within, and have reliable backup and recovery options.
  • Supported Cryptocurrencies – Not all wallets support the same range of digital assets, so we wanted to make sure that the cold wallets we chose supported the widest range of cryptos possible.
  • User-Friendly Interface – This list features wallets that as a whole, have intuitive and user-friendly interfaces, suitable for people who are new to the world of crypto, as well as long-time holders.
  • Transparency – Between open-source and closed-source wallets, we will always favor open-source wallets that let the community review and audit the code for security, enhancing transparency.
  • Community Reputation, Reviews, and Ratings – We researched and read reviews from other users, giving priority to wallets that had positive feedback and a solid reputation in crypto circles.
  • Manufacturer History and Reputation – We researched the manufacturer’s history to make sure that our top picks come from established and reputable companies.
  • Security Audits – Our highest-ranked wallets have undergone third-party security audits, have multi-sig functionality, and can operate in an air-gapped (offline) environment, to reduce the risk of online attacks.
  • Price – Last but not least, we considered the cost of the wallet. Security is vital, but you don’t want to break the bank buying a wallet – otherwise, you’ll have nothing to store there.

How do Cold Wallets Work?

All cold storage crypto wallets have a seed phrase, consisting of 12 or 24 words, which you can use to restore your wallet and access your crypto funds in case something happens to your computer or smartphone. That’s because your crypto wallet and assets are stored on the blockchain. Using the seed phrase you actually prove that you own the cold wallet crypto.

Cold Wallets Store Your Seed Phrase Offline

Cold wallets generate and store the user’s private keys on the physical device. This means the seed phrase is never exposed on your computer screen while you’re connected to the Internet. This way, hackers can never see your seed phrase via your computer even if your computer is compromised. If the user needs to restore a private key, they enter the seed phrase directly on the device itself, which is encrypted and offline.

You Need to Press a Button to Sign Transactions

Aside from keeping your seed phrase safe, cold wallets have another safety feature. You have to physically press buttons on the cold wallet to authorize transactions. This way, no one can authorize the transaction except the person who holds the cold wallet device. To increase security, cold wallets use a PIN number, a passphrase or 2FA to unlock the device. If someone manages to steal your hardware wallet, they would need to know your access codes to unlock it.

Why Is The Seed Phrase Important?

The crypto wallet seed phrase, often made of 12 to 24 randomly generated words, is the backup key to your wallet. This sequence of words is linked to the private keys and acts as a mnemonic representation to retrieve access to the assets within the wallet. For example, you create a crypto wallet and you don’t save the seed phrase. If you need to reinstall your operating system, someone steals your computer or your cold wallet breaks and you don’t know your wallet’s seed phrase, you won’t be able to access your digital wallet and your funds will be trapped. To protect your seed phrase, you need to write it down on a piece of paper and store it somewhere safe. The best bitcoin cold wallet makers, like Ledger, sell metal seed phrase protectors that can withstand fire and damage.  

Advantages of Cold Crypto Wallets

The main advantage of a cold wallet is enhanced security. Since you need to physically press buttons on the wallet, you are safe from remote access hacks.

Enhanced Security

The main advantage of cold crypto wallets is their superior protection against online vulnerabilities. Cold wallets aren’t connected to the internet, making them immune to cyber attacks. This includes protection from hacking attempts, phishing schemes, malware infections and other malicious activities. By storing private keys offline, cold wallets ensure that access to your funds is protected.

Unauthorized Access Protection

Cold wallets require that you physically press a button to sign a transaction. In the unfortunate event that a malicious actor has gained access to your computer accounts and companion cold wallet app, they can’t move your funds without you pressing the buttons. This acts as a physical barrier against unauthorized access and theft, giving you peace of mind that your funds are protected even when you sleep.

Long-Term Safekeeping

Crypto cold wallets are designed for the long-term storing of your crypto assets. That’s because the safety feature of pressing buttons to authorize transactions can become a nuisance if you plan to use your cold wallet device for active trading. What’s more, active trading requires that you connect to multiple decentralized apps, which could potentially pose a threat if they’re hacked. Unlike hot wallets, which are designed for frequent transactions and daily use, cold wallets are better suited for “hodling”, which is for keeping your assets safe long-term.

Immune to Platform Failures

Online platforms and exchanges are known to experience downtimes, glitches and even hacks. For example, DeFi exchange Curve Finance had various Ethereum pools hacked where $52 million were stolen. CoinEx lost $54 million in a hack. If you had funds in these two platforms or any other where the assets were compromised, you could have lost all your funds. Cold wallets eliminate this risk because you have full control over your assets and how they move.

Cold Wallets vs Hot Wallets

Both cold wallets and hot wallets are designed to store your digital assets like cryptocurrencies and NFTs. But there are some differences between the two.

Assets Safety

One of the main differences between cold wallets and hot wallets is safety. Hot wallets provide you with a seed phrase visible on your computer screen or smartphone when you open a new wallet. Cold wallets, on the other hand, provide you with a seed phrase directly on the screen of the hardware wallet, which isn’t connected to the internet. This means that unless someone looks directly at your hardware wallet’s screen when you read and write the 12 to 24 words, there is no way that they can know your seed phrase to steal your funds.

Transaction Execution

Another difference between these two types of wallets is how transactions are executed. You can sign transactions with one click using hot wallets, which makes it an excellent choice for frequent trading or using decentralized apps. Cold wallets, however, have buttons that you have to physically press to sign the transaction. What’s more, you need to unlock your crypto cold wallet device with a PIN, a passphrase or 2FA. This makes signing transactions more complex but also safer.

Use Cases

Due to being safer, the best cold wallets are designed for long-term safekeeping. This means that once you buy your crypto assets, you send them to your cold wallet and you leave them there until you decide to sell. Hot wallets are designed to be exploited daily. Connect your hot wallets to decentralized exchanges, yield farming protocols or NFT marketplaces and feel free to continuously sign transactions. You can always move your profits into your cold wallets for safekeeping.

How to Choose a Cold Cryptocurrency Wallet

Choosing the best cold wallet is a decision that requires weighing in several factors, including security features, supported cryptocurrencies, mobile app experience as well as pricing.

Security Features

This is the main reason to get a cold wallet. But there are nuances that you have to consider as not all cold wallets are created equal. For example, some users prefer Bluetooth connectivity so they can easily sign transactions on their smartphones without using cables. Other users may consider Bluetooth as a liability and prefer to have air-gapped devices, meaning they have no wireless contact of any kind that could compromise security.

Also, look for wallets that have a proven track record of security, like Ledger and Trezor, which employ strong encryption methods. Additionally, consider the wallet’s recovery options. In case the wallet is lost or damaged you will have to use your seed phrase to access your wallet. But sometimes you could lose your seed phrase as well. Every Trezor cold wallet has a solution for this via something called Shamir Backup where you split your seed phrase into several pieces. If one piece is lost or stolen, you can still recover your wallet.

Ledger Recover

Ledger has recently employed a similar wallet recovery feature called Ledger Recover. This is a paid feature where you have to submit valid ID documents and a selfie recording. Once approved, your device will encrypt your seed phrase and split it into three fragments, which will be used to recover your seed phrase. Because your seed phrase is locked to your ID, you can be the only one who can request the recovery fragments.

What is Shamir Backup?

Shamir Backup is a security standard that aims to protect your seed phrase. The way it works is your seed phrase is split up into pieces, called recovery shares, and you can store them at various places. If one of the pieces is lost or damaged, you can still recover your assets. Recovery shares are sequences of 20 or 33 words that carry part of the cryptographic secret. When you combine the number of shares you create a master seed, which you can use to recover your wallet.

Supported Coins

Most crypto cold wallets support the most popular coins like Bitcoin, Ethereum and Solana, but they also support thousands of other coins and tokens. However, some wallets, like Blockstream Jade, support only Bitcoin and no other coin. That is why you have to consider what you really need before buying a cold wallet. If you only want to hold Bitcoin and sell it in 10 years, then Blockstream Jade could be a perfect wallet; it’s cheaper, it’s reliable and it’s safe. But if you want to store multiple coins and do multi-chain swaps, then Trezor or Ledger wallets are typically the way to go.

Companion Mobile App

Even though cold wallets are designed to be offline storage devices, most of them come with companion mobile apps that allow you to monitor your portfolio, to initiate transactions, to stake your idle coins, to use decentralized apps like Uniswap and 1inch exchange, and more. That is why it’s important to consider cold storage wallets that meet your requirements. Ledger’s Ledger Live app is one of the best companion apps, where you can stake your idle coins. This feature isn’t available in most other cold wallet apps. Another valuable app is the Trezor Suite, which has similar functionalities to Ledger Live, but it can also help obscure your transactions with Coinjoin.

Trezor Suite

Device Cost

Recently, it was revealed that Mark Cuban lost nearly $900,000 to crypto hackers by installing a fake MetaMask app. If this happened to him it could happen to everyone. That’s why it’s important to own a cold wallet and never share your seed phrase regardless of the device’s cost. However, if two or more devices share a similar price point while offering the same functionality, you could spend the extra money investing in crypto. Compare the wallets you are willing to get and see whether paying a premium is worth it.

Limitations of Cold Wallets

While cold wallets offer security advantages, there are some limitations to consider. Before opting for a cold wallet, weigh the benefits against the potential inconveniences associated with cold storage. Susceptible to physical attacks. Someone could steal your hardware wallet or it could be damaged or lost. If you don’t have your seed phrase ready, you won’t be able to recover your assets. Regular transactions.

Cold wallets are designed for storage, which makes them inconvenient for everyday transaction signing. That’s because you have to physically press a button every time you wish to make a transaction. If you’re making hundreds of transactions each day, it could be tedious to approve them every time on your hardware wallet. Cost. While hot wallets are free to use, cold wallets come with a purchase price. Of course, this is a small price to pay for the safety of your crypto assets. But you still have to weigh in whether you really need a cold wallet or not for your intended use cases.

Conclusion

The 10 best cold wallets for 2024 stand out not only for their robust security features but also for their user-friendly companion apps, a wide range of coin support and innovative functionalities. Whether you’re a beginner in the crypto space or a seasoned investor, buying a cold wallet is probably one of the most prudent investments you can make. Consider the ELLIPAL Titan Cold Wallet to hold your crypto assets. It comes air-gapped transaction signing and it uses anti-tamper technology that deletes your private information if it detects tampering.

Cold Wallet FAQs

What is a cold wallet in crypto?

A cold wallet is a hardware wallet that holds the seed phrase offline.

What is an example of a cold wallet?

Ledger Nano S Plus and Trezor Safe 3 are cold wallets.

Which is the best cold crypto wallet for crypto?

The best cold crypto wallets are ELLIPAL Titan Cold Wallet, Ledger Nano S Plus and Trezor Safe 3 because they offer top-notch security features with companion apps for an affordable price.

Are cold crypto wallets safe?

Yes, cold crypto wallets are safe as long as you keep your seed phrase offline.

Are cold wallets worth it?

Yes, cold wallets are worth it if you’re looking for safe storage for your crypto assets.

What happens if your cold storage wallet breaks?

If your cold storage wallet breaks, you can order a new one and import your seed phrase. Your crypto assets are on the blockchain and they aren’t lost.

What is the most secure crypto cold wallet?

Some of the most secure crypto cold wallets are all wallets from Ledger and Trezor.

Should I put my crypto in a cold wallet?

Yes. This is the safest way to store your cryptocurrencies. Also, never share your wallet seed phrase with anyone or keep it on your computer.

Does my crypto still grow in a cold wallet?

Yes, if you stake it. For example, Ledger Live, Ledger’s companion app lets you directly stake your coins from within the app, never leaving your wallet.

Is Coinbase wallet a cold wallet?

No, the Coinbase wallet is a hot wallet.

References

  1. Crypto Heists Surge in 2023, $16.93m Already Stolen in 2024 – Infosecurity-Magazine.com
  2. DeFi Exchange Curve Finance Confirms Various Ethereum Pools Hacked – Decrypt.co
  3. Mark Cuban lost nearly $900,000 to crypto hackers—how investors can avoid similar scams – CNBC.com
  4. North Korean Attackers Linked to $54M CoinEx Hack, Blockchain Data Suggests – Coindesk.com
  5. SD Memory Cards Secure Store Bitcoin and Other Cryptocurrencies Offline – SDCard.org

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