While there are a lot of digital options out there, or hot wallets if you will, not everyone is comfortable using this type of storage for crypto.
Security and safety are always a concern. While most hot wallets have security measures in place, it’s still wholly digital, exposing you to risks that may cause you to lose your speciality investments for good.
The alternative to hot wallets is cold wallets. Cold wallets are a physical hardware device that is used to store digital assets of all kinds. This can include coins, tokens, NFTs, and more. Compatibility may vary depending on the wallet and how it is designed.
These wallets are the top of their game when it comes to both safety and functionality. This simple guide will walk you through key things to know about each wallet and share with you the top pros and cons to know as well. Keep reading to find the best cold wallet for your needs.
Table of Contents:
The 11 Best Cold Wallets on the Market 🔝️
|BEST COLD WALLETS||RATING||SIGN UP|
|1. Ledger Nano S Plus||★★★★★||Click Here|
|2. Ledger Nano X||★★★★★||Click Here|
|3. TREZOR One||★★★★★||Click Here|
|4. TREZOR T||★★★★★||Click Here|
|5. BitBox02||★★★★★||Click Here|
|6. KeepKey||★★★★★||Click Here|
|7. Blockstream Jade||★★★★★||Click Here|
|8. CoolWallet||★★★★★||Click Here|
|9. ColdCard||★★★★★||Click Here|
|10. SafePal||★★★★★||Click Here|
|11. SeedSigner||★★★★★||Click Here|
1. Ledger Nano S Plus
The Ledger Nano S Plus cold wallet is a top choice for many reasons, one of which is their top-notch security measures that come to you for an affordable price.
The wallet could be compared to a spinoff of the famous Ledger Nano X wallet, and it has a lot of similar qualities, but it’s cheaper, which is certainly a plus.
This Ledger Nano S device can support more than 5,500 digital assets. This includes crypto coins or tokens, NFTs, and other popular assets. The wallet even allows you to partake in staking and access some exchange features through Ledger’s own program, which is Ledger Live.
Ledger Nano does not have Bluetooth functionality, which is perhaps where it is lacking for some. Because of this you may feel some inconvenience with how you can view or access those assets stored inside.
This is our top budget choice, but purchasing at a budget doesn’t mean that you are giving up all the best features. You still have tons of awesome features, with just a couple of slight variables to work around. Massive compatibility and top features make it a great choice overall.
2. Ledger Nano X
The Ledger Nano X cold wallet is overall one of the top choices for cold wallets available anywhere on the market. Many users and reviewers list it among the top for a variety of reasons.
This USB plug-in hardware is easy to use, easy to take anywhere with you, and is incredibly secure. Your digital assets will be protected by leading custodial security measures.
Not only can you use the wallet for a high variety of crypto tokens and coins, but you can also use it for NFTs and similar digital assets. Ledger provides compatibility with more than 5,500 different assets, giving you a high range of flexibility to meet your needs.
This Ledger model provides Bluetooth functionality and works with both Android and iPhone models so you can use it with virtually any type of access point. You can also use it on a computer with a USB plug port. These details provide you maximum access whenever you need it most.
Ledger proves they know what they are doing when it comes to features and security, this is why the Nano X is one of the most coveted wallets you will find. It’s well worth every penny.
3. TREZOR One
Trezor introduced this model back in 2012, setting the stage for other crypto wallets to follow. They knew how to make a grand entry and while they continue to create some new options, this classic remains a top choice for cold wallet users.
Thanks to guaranteed self-custody, you get to be in control of your assets. While the asset compatibility is not as substantial as Ledger, it’s still pretty great. You can host up to 1,289 assets, which is a pretty good stretch in our opinion.
Since this was the very first of its kind, it doesn’t have as many fancy features as some out there. It’s a great choice for beginners or users that just want something simple but also secure and reliable. Despite advancements and other options coming to market, it remains a steadfast solution you can depend on and it’s pretty affordable too.
4. TREZOR T
If you’re an experienced cold wallet user, Trezor T brings their A game. Created by the same company that pioneered hardware wallets, this advanced model has everything you could need.
It is more expensive, but the features and capabilities make it a premium choice for experienced crypto holders.
Trezor T is really all about the advanced features in many ways. It’s fancy and it has a LOT to offer. This includes multisig functionality, which beats out many other cold wallets. If you’re working with Bitcoin or other high dollar transactions, this is a great way to be more protected overall.
In addition, Trezor T can work with Taproot to provide advanced security and help save you some money on certain exchange networks. You can be anonymous or known and handle all of your crypto needs with a simple interface - the Trezor Suite.
The highlight of the device is really multiple levels of security as well as backup and recovery options should you ever run into problems with the device. This touch screen device is a high tech choice, making it a steady contender in the market.
BitBox is a lesser known wallet solution, but it has a lot to offer. It’s one of the newer models, with the BitBox02 only having been released a couple of years ago.
If you’re looking for a reliable alternative to some of the other big names on the market, you’ve come to the right place.
Made by a Swiss company, there are some really great features that make this wallet stand apart.
The wallet comes with everything you need to use it, including USB adapter and extension cables, plus instructions for setting up the wallet and getting started.
Setup does require a little bit of work, as any wallet would. You need to be able to plug it in and walk through the steps, but it’s not overly challenging. Make sure you create a backup, which is a popular feature for this device.
The downside that some might see of this device is that the coin and token support is extremely limited. Where some providers offer thousands of compatible assets, with this device you just work with Bitcoin, Litecoin, and Ethereum. This may be limited for some, but it means you have more specialized access in these specific categories.
If the little compact USB sized wallets are too small for you, then KeepKey might be a great choice. It’s larger and heavier than many of the popular cold wallets, making it less likely to get lost or misplaced and easier to keep track of.
The crypto support is limited, but it could be worse. Overall, it’s a reliable choice with a lot to offer.
The KeepKey cold wallet is highly secure and it has a really great price tag. It’s easy to use, and sometimes simplicity is what people want the most. Where so many cold wallets are just sleek and modern, they focus on keeping a unique style that meets a whole different niche.
You can easily connect to your mobile device or you can use a computer if you prefer. This comes from another Swiss company that specialized in tech and did a great job creating a solution for users who want simple security in a reliable device.
All of that said, it’s a fairly expensive model considering the limited crypto capabilities. For many, the price tag will be a direct turnoff, but others will appreciate the modern features and size of the device. It’s totally up to your preferences.
7. Blockstream Jade
Jade, also known as Blockstream, is a top security device that is specialized to just a few popular assets. This cold wallet is for the people who want specialty assets to be highly secure.
It’s compatible with any assets that really should be protected by two layer security, which is a nice detail that stands out.
Jade was primarily designed for Bitcoin because of its high value and limited availability. However, there are a few other assets it is compatible with. In addition, it’s a cheap option that gives you amazing security.
You can use Jade for Tether and some other options found on the Liquid network, which is another area it is set apart from similar limited devices. This cold wallet deserves respect when it comes to security.
Their innovative Secure Element chip is what really provides superior protection for users. The device is slightly larger than popular competitors, but it’s secure and it’s reliable.
CoolWallet is one of the most unique hardware wallets on the market. It does have some limitations, but it’s pretty cool in a lot of ways. And if you want the most secure device on the market, this just might be it.
It even offers encrypted connection. It’s easy to send and receive with and it even allows for instant swapping, which is pretty nice.
CoolWallet was designed by a company called CoolBitX. This company is known for making one of the first mobile hardware devices. That initial invention led them to eventually create their crypto wallet - CoolWallet.
CoolWallet was established using a crowdfunding approach, which means people were engaged before it ever came to market. It wasn’t perfect at first and after working through a ton of bugs and support issues, they improved on their original product to create the CoolWallet that has become incredibly successful.
This mobile cold wallet connects to any phone that offers that compatible app to the device, and most systems will work with it. This wallet is conveniently sized and shaped, measuring up about like your credit card so it’s easy to carry.
ColdCard’s MK4 device is another top choice when it comes to Bitcoin. If Bitcoin is all you trade, or you want high security for Bitcoin assets, this is the cold wallet for you. It is the only compatible asset and it’s specially designed for Bitcoin, giving it a unique appeal.
ColdCard MK4 isn’t loaded with features it doesn’t really need. Since it’s only for Bitcoin, it focuses on security and simplicity, providing for that niche in a way no other cold wallet will. Your private keys are stored securely offline, which is a popular feature.
Most wallets incorporate a secure element chip, but ColdCard takes it one step further and actually uses 2 chips, which is another security feature that makes it popular. It’s all about your Bitcoin protection.
You can send and receive Bitcoin easily with all of the elements and your security measures covered. You don’t even have to plug it in for sending needs. It’s not the normal modern technology, but it certainly suits this purpose well.
If you’re looking for the ultimate budget wallet, Safepal is the choice for you. And while it may be cheap, it has so many features and compatibility details that you may not even know what to do with them all. In fact, it’s compatible with more than 30,000 assets, which is completely astronomical.
SafePal was developed by Binance, which means they had some understanding of the crypto markets. Since Binance is an exchange, they were able to customize intuitive blockchains and assets to give you tons of choices, handling up to 54 blockchains.
The device is also secure thanks to the typical secure element chip that is used on most devices. While it’s a really great device with plenty of security, it’s not as user-friendly as most of the popular devices. Setting up takes some work and you’ve got to get used to the device. Once you get it down, it’s not so bad.
Because of the setup challenges, it might be more suitable for someone who has some basic experience with wallets. However, newcomers can figure it out, they just need to be prepared to spend some time on it.
11. SeedSigner (DIY)
SeedSigner is not your typical cold wallet device. Instead, it’s a DIY solution that you create and piece together on your own. Since it’s DIY, you can make whatever you want.
However, this means that you also should be familiar with putting together tech like this and understanding cold wallet devices.
SeedSigner is open source, but it’s definitely going to be a project. However, because of the DIY selections of creating your own device, it can sometimes be totally customized and affordable at the same time. It’s perfect for storage and you can set up as much security as you want.
SeedSigner does provide assistance and instruction to help you on the way. This includes offering security assistance to be compatible with Bitcoin needs. This is cheap to make and can be a reliable solution specifically for Bitcoin uses.
That being said, due to the DIY nature, it’s also general purpose and may not be as snazzy or as secure as other very carefully created devices.
Special Mention - Opendime (One-time use) ➡️
We couldn’t complete this guide without a special mention to a one and done type of wallet. The OpenDime wallet is incredibly unique because it’s made for one time use. It’s totally disposable and it has tons of compatibility.
Since these are created for one time use, you typically buy a packet that has 3-5 in them. When you measure out the costs, they are pretty affordable for each device, but the costs could add up if you’re using them a lot.
The OpenDime cold wallet is easy to set up and use and is best for transferring or passing on security without having to deal with chains and exchange transactions.
Choosing the Best Cold Wallet 🔎️
As you can see, there are many different types of cold wallets out there, and they all have differentiating factors. So how are you supposed to choose? Ultimately, it will boil down to your preferences, as well as the needs of the digital assets that you want to be able to work with.
These are some things that might help you make a final decision.
If you like to have access to a wide variety of assets, you will need to be careful to choose a cold wallet that can provide this. Will it be compatible with your crypto app or the assets that you want (or already do) hold?
A hardware device that isn’t compatible really won’t do you any good, will it. In addition to compatibility with the assets of your choice, you need to ensure compatibility with your device. Some cold wallets will only work with certain devices. Check this over to make sure you won’t get a device you can’t even use.
Security is one of the top concerns of the digital asset market, specifically with cryptocurrencies. If you hold or trade Bitcoin, this becomes even more important as it’s a limited and valuable asset. The security features of your hardware wallet will make an impact on your decision.
Different wallets offer different levels and types of security so think about what you’re looking for. Is a secure chip enough, do you want encryption, or is a pin number sufficient for you?
Ease of Use
There is nothing worse than trying to complete a transaction or manage your holdings only to struggle to even get anything accomplished. There is something to be said about devices that are easy to figure out and use. Of course, more advanced users might not be bothered at all by a process that seems cumbersome or challenging to an inexperienced user.
If you’re new, look for devices that are easy to learn. If you want something easy to use, always check out what others have to say and what steps you will have to follow for setup and use.
Another factor that will likely affect your decision is the price. If you have a tight budget, there are some really great options that will work just fine for cheap. You don’t necessarily need the top of the line premium selections, although it’s fine if you want to spend the money for those.
Just know that price does not always define quality or security. It may have an effect on special features included with the cold wallet, but it doesn’t mean it’s a bad choice. Choose the price range you’re willing to go with and then select a cold wallet in that range that meets your needs.
Backup and Restoration
One thing that scares people about wallets is what do you do if something goes wrong. What if you lose or forget your seed phrase or keys? Will your assets be lost for good? Maybe your device breaks or gets misplaced. Are you just out of luck on those assets?
Choosing a cold wallet that provides backup and restoration solutions is ideal. This can protect you if something does go wrong. Make sure you know how to backup and restore and what type of security is implied to do so.
Final Thoughts 🤔️
Investing in a cold wallet can be a great choice for digital assets. The physical hardware is reassuring to people who want the best of security and reliable features. There are many options to choose from and they each offer a variety of features and security details. Take the time to do a little bit of research and find the best option for your needs.
You can’t go wrong with any of the selections we’ve shared here. Which wallet will you choose?