10 Best Cold Wallets for Crypto Storage in 2023
Discover the top 10 best cold wallets for securely storing your crypto assets in 2023. Learn about their features, pros and cons, and how to choose the right one for you.
- Table of Contents
- Best Crypto Cold Wallets
- How to Choose the Best Hardware Wallet
- Hardware Wallet Pros and Cons
- Hardware Wallet Security Tips
- Final Thoughts
In the ever-growing world of cryptocurrencies, securing your digital assets is paramount. One of the best ways to ensure the safety of your crypto holdings is by storing them in a cold wallet. We've already written a review of NFT wallets, and in this article we look at the ten best cold wallets for storing cryptocurrencies in 2023.
Best Crypto Cold Wallets
Here are the top 10 cold wallets for storing your crypto assets securely:
Ledger Nano X
The Ledger Nano X is one of the most popular hardware wallets available. It supports over 1,500 cryptocurrencies, has Bluetooth connectivity, and can store up to 100 applications simultaneously. The Ledger Nano X is a hardware wallet manufactured by Ledger SAS, a French company founded in 2014. It is the successor to the Ledger Nano S, offering several improvements in terms of features and functionality.
Although the small buttons can be hard to use for some users, the device is quite secure and reliable for storing digital assets. The screen itself is also not the best for viewing smaller fonts. If seeing is difficult, users can always use the Ledger Live app for better visibility. However, this is still the main disadvantage of the Ledger Nano X.
Key features of the Ledger Nano X:
- Supports over 1,500 cryptocurrencies
- Bluetooth connectivity for mobile device pairing
- Can store up to 100 applications simultaneously
- Compact and portable design
- Built-in battery with up to eight hours of continuous use.
The device is compact and portable, with a sleek design that fits in a pocket or bag. As the approx. the size of a USB stick, it can be used on the go.
It also has a built-in battery that can last up to eight hours of continuous use. Overall, the Ledger Nano X is a reliable and user-friendly hardware wallet that offers advanced security features and supports a wide range of cryptocurrencies. It is one of the most popular hardware wallets for a reason and with special collaborations with various NFT and crypto brands, it is here to stay.
Trezor Model T
The Trezor Model T is another top-rated cold wallet supporting over 1,000 cryptocurrencies. It has a touch screen, a microSD card slot, and a recovery seed feature for added security. This is one of the best crypto wallets and is also popular among crypto users for its simplicity.
It has received favorable reviews from users for its user-friendly interface, touchscreen display, and advanced security features.
Key features of the Trezor Model T:
- Touch screen display
- MicroSD card slot for secure offline storage of recovery seed
- Support for over 1,000 cryptocurrencies
- Password protection and backup with a passphrase for added security.
One notable feature is the microSD card slot, which allows users to securely store their recovery seed offline. This is especially useful in case the device is lost or damaged.
The Model T also supports a variety of cryptocurrencies, including Bitcoin, Solana, Ethereum, and Litecoin. Additionally, the device can be password-protected and backed up with a passphrase for added security. Like most hardware wallets, it also has a recovery seed feature for users to store their private keys in an additional secure location.
While the Trezor Model T has been praised for its ease of use and high level of security, it is important to note that no hardware wallet is 100% immune to hacking attempts or other forms of compromise. It is always recommended to take additional precautions to protect your cryptocurrency assets.
KeepKey is a sleek and stylish cold wallet that supports over 40 cryptocurrencies. It has a large OLED display, a PIN code, and a recovery seed feature. It also features its own dApp Store which grants access to thousands of De-Fi opportunities. If exchanging crypto and utilizing decentralized finance to its fullest extent is what you are looking for, KeepKey has you covered is the perfect type of wallet for you.
KeepKey is a popular hardware wallet that offers users a secure and intuitive way to store their cryptocurrencies. While it supports a smaller number of cryptocurrencies compared to other wallets, it still covers most of the major coins. Its total of 7225 supported cryptos ranging from 348 different blockchains makes the Trezor Model T impressive nevertheless.
Key features of the KeepKey:
- Large OLED display for easy verification and checking balances.
- Supports over 40 cryptocurrencies, including major coins.
- PIN code and recovery seed feature for added security.
- Integration with ShapeShift exchange for easy cryptocurrency trading.
One of the most notable features of KeepKey is its large OLED display, which makes it easy to verify transactions and check balances. The wallet has an extra security feature. It has a PIN code and a recovery seed. It features customizable transaction speeds which helps users to select the gas costs used when transferring cryptocurrencies. There are also no limits when it comes to the number of accounts a user can set up. This allows users to store multiple coins and tokens on the same device.
KeepKey also supports integration with the ShapeShift exchange, allowing users to easily trade between different cryptocurrencies directly from the wallet. While KeepKey has not released any major updates recently, it remains a reliable and user-friendly option for the cold storage of cryptocurrencies.
The BitBox02 is a compact, easy-to-use hardware wallet supporting over 1,000 cryptocurrencies. It has a touch button interface, a microSD card slot, and a password manager. With this hardware wallet, users can also connect with the Ethereum ecosystem and utilize various dApps. Whether exchanging NFTs, De-Fi investments, staking coins, or trading crypto, the BitBox02 has you covered for your cold storage solutions.
The BitBox02 is a hardware wallet developed by the Swiss-based company Shift Crypto. It is a compact and durable wallet designed to protect digital assets with a secure chip and open-source firmware. For those that are concerned with privacy, this wallet also can connect to Tor, a network that helps keep user activity anonymous. This type of wallet is rare as most hardware wallets do not offer this feature.
Key features of the BitBox02:
- Supports over 1,000 cryptocurrencies
- Touch button interface for easy navigation
- MicroSD card slot for backup and recovery
- Built-in password manager for added security
- OLED display for clear transaction information
- Continuous updates for new features and security improvements
- Compatible with Windows, macOS, Linux, and mobile devices using the BitBoxApp.
The wallet supports over 1,000 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Bitcoin Maxis can also rejoice as this company features a Bitcoin-only edition. The BitBox02 uses a touch button interface for easy navigation, and its OLED display provides clear and concise transaction information. With an easy backup & recovery procedure, users can feel more secure knowing their funds are safe and secure.
The wallet also has a microSD card slot for backup and recovery, as well as a built-in password manager for added security. The BitBox02 is compatible with Windows, macOS, and Linux, and can also be used with mobile devices using the BitBoxApp. This means users can access all their digital assets with ease, no matter where they are.
The wallet is continuously updated with new features and security improvements to ensure maximum protection of the user's digital assets. As a company with 5-star reviews on Trustpilot, Shift Crypto has certainly proven itself as a reliable and reputable hardware wallet provider.
The Coldcard is a Bitcoin-only crypto wallet with advanced security features like multi-signature support, PSBT, and BIP39 passphrase. As "the world's most secure and reliable bitcoin-signing device" (this is not our opinion, but the official description), this wallet has a tamper-proof casing and military-grade security. Although it doesn't support many different crypto assets, as far as Bitcoin wallets go, the Coldcard is considered one of the best.
The Coldcard is a specialized hardware wallet designed exclusively for Bitcoin storage. It is a compact and durable device that operates offline, ensuring maximum security for your BTC holdings. As a signing device, the Coldcard offers multi-signature support to enhance security, as well as partially signed Bitcoin transactions (PSBT) for added flexibility. Safekeeping of private keys is still a priority but with the Coldcard, users can experience greater peace of mind knowing their funds are well protected.
Key features of the Coldcard:
- Bitcoin-only support for maximum security
- Multi-signature support for added security
- Partially signed Bitcoin transactions (PSBT) for flexibility
- BIP39 passphrase for extra protection
- Compact and durable design with offline operation
- Compatible with popular Bitcoin wallets like Electrum and Wasabi.
The wallet uses a microSD card to store data and requires a PIN code for access. One of its unique features is its support for multi-signature transactions, which adds a layer of security by requiring multiple signatures to authorize a transaction.
Additionally, Coldcard also supports partially signed Bitcoin transactions (PSBT) and the BIP39 passphrase for extra protection. The wallet can be used with popular Bitcoin wallets like Electrum, Wasabi, and Specter Desktop.
It is worth noting that while the Coldcard is a highly secure wallet, its technical features and Bitcoin-only support may make it less user-friendly for beginners. However, with online tutorials and practice, the wallet can be mastered quickly and will provide a secure solution for long-term Bitcoin storage.
The Coldcard is an ideal choice for those who wish to also utilize what's known as 'Trick Pin Features'. It is a feature of Coldcard where users can create a duress PIN code where a separate wallet appears that differs from the main wallet account. This is helpful to prevent others from discovering your main wallet information. By entering small amounts that you are comfortable with sacrificing, you can use the duress PIN Code to prevent any further theft attempts.
Overall, Coldcard is an excellent choice for those who are only focused on Bitcoin-safe storage. With a sleek cover and multiple color choices, the wallet is designed to be convenient and secure. It's also cost-effective for the type of security you get with this. The Canadian-based company took into account psychology along with the technicals to make a wallet that works as a reliable security tool.
The Ellipal Titan is an air-gapped cold wallet that supports over 7,000 cryptocurrencies. It has a touch screen, a camera, and a metal case for added durability. The term 'Titan' serves this device well because its size is a good indicator of its security. Unlike some other hardware wallets, the Ellipal Titan is approx. the size of a cell phone. Those with larger fingers and who prefer a full display will find this one of the best hardware wallets for its comfortable use.
The Ellipal Titan is a relatively new hardware wallet that has gained popularity among crypto enthusiasts. Its unique feature is its air-gapped design, which means it doesn't require an internet connection to operate, enhancing its security. Some users fear that connection with the internet can lead to security vulnerabilities, so Ellipal Titan is a great crypto wallet for those looking for added protection.
Key features of the Ellipal Titan:
- Air-gapped design for enhanced security
- Large touch screen and camera for easy navigation and scanning QR codes
- Metal case for added durability and water-resistance
- Supports over 7,000 cryptocurrencies with multi-currency support
- Mobile app for managing transactions
- Recovery seed feature for backup purposes.
The device has a large touch screen, making it easy to navigate, and a camera for scanning QR codes. Its metal case provides additional protection, and the device is also water-resistant. Although it is unlikely that you'll go swimming with this in your back pocket, it's nice knowing that it can handle a splash or two.
The Ellipal Titan supports over 7,000 cryptocurrencies and offers multi-currency support for users who hold different types of digital assets. It also has a mobile app for managing transactions and a recovery seed feature for backup purposes. It truly is a Titan when it comes to the capability of a hardware wallet.
However, some users have reported issues with the device's battery life, which can be a drawback for those who frequently use the device. Recharging the device is an inconvenience that needs to be taken into account. Other than this, the Ellipal Titan is a great choice for those who are serious about their crypto security.
The Keystone Pro is a military-grade cold wallet that supports over 5500 cryptocurrencies. It has a touchscreen, fingerprint scanner, a self-destruct mechanism, and a tamper-proof case. This combination of features makes it one of the best hardware wallets available today.
The Keystone Pro is a highly secure cold wallet designed for serious cryptocurrency investors and traders. It features military-grade encryption, a tamper-proof case, and a fingerprint scanner for added security. Described as a high-frequency hardware wallet, those that use crypto as a medium of exchange will find the Keystone Pro especially useful.
Key features of the Keystone Pro:
- Military-grade encryption for maximum security
- Fingerprint scanner for easy and secure access
- Self-destruct mechanism that wipes all data if tampering is detected
- The tamper-proof case protects the wallet from damage
- Water-resistant design for added durability
- Supports over 5500 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin
- The simple user interface for easy management of multiple cryptocurrencies.
The wallet supports over 700 cryptocurrencies. The Keystone Pro also includes a self-destruct mechanism that wipes all data if it detects any attempts at tampering. This may seem like an extreme security measure, but it's necessary to keep funds safe in certain situations. It's helpful to know that this wallet is capable of protecting user funds even in the face of malicious attacks.
MetaMask is easily integrated into the device and setting an NFT profile picture is a unique way to identify the wallet and show off your digital collectibles. This makes the Keystone Pro a great choice for those who are interested in digital art and non-fungible tokens.
The SafePal S1 is a user-friendly cold wallet that supports over 10,000 cryptocurrencies. It has a touch screen, a rechargeable battery, and a mobile app for added convenience. It is invested by Binance and is one of the lowest-costing hardware wallets on the market. If you are on a budget but still wish to keep your funds safe, the SafePal S1 is a great choice. As long as you follow the best practices with your private keys, the SafePal S1 can provide the security you need.
SafePal S1 is a lightweight and portable hardware wallet that offers advanced security features to protect your cryptocurrencies. It supports over 10,000 coins and tokens, and its control stick makes it easy to use. By being able to have custody of your crypto assets while navigating the decentralized finance ecosystem with ease, it makes investing and trading a breeze.
Key features of the SafePal S1 cold wallet are:
- User-friendly interface with a touch screen
- Supports over 10,000 cryptocurrencies
- Built-in rechargeable battery that can last up to 5 hours
- Mobile app for managing transactions and portfolios
- Affordable price point
- Regular firmware updates to improve security and functionality.
The SafePal S1 also has a built-in rechargeable battery that can last up to 5 hours on a single charge, making it convenient for on-the-go transactions. In addition, it comes with a mobile app that allows you to manage your portfolio and transactions from your smartphone.
The device is also affordable, making it a great option for beginners who want to secure their crypto assets without breaking the bank. SafePal regularly releases firmware updates to improve the wallet's security and functionality. Overall, the SafePal S1 is a solid option for anyone looking for an easy-to-use and affordable cold wallet. It's simple and doesn't have exorbitant features but gets the job done.
This new device is a vault-grade hardware wallet that supports both NFTs and cryptocurrencies. Although this device isn't as well-known as some of the other brands mentioned in this article, the many five-star reviews have highlighted its high quality. The SecuX V20 is a well-built cold storage device with an impressive form factor and great features.
With a 2.8" touchscreen, navigation and custody of your crypto assets is easy. The SecuX V20 also features an "Infineon EAL5+ Military-Grade Secure Element". This means that your private keys are kept safe and secure, as the device is immune to any attempts at tampering. Furthermore, it connects to a mobile app, making it easy to access it from anywhere.
Key features of the SecuX V20 cold wallet are:
- The Secure Element chip is of military grade
- Sealing labels that cannot be easily opened or manipulated
- The platform supports over 1000 coins, tokens, as well as NFTs with ERC-721 and ERC-1155 standards
- The largest color touchscreen on the market
- The software is compatible with multiple operating systems on both computers and mobile devices
- The devices support Bluetooth 5 and can be connected using USB Type-C
- The recoverability is compatible with the BIP32, BIP39, and BIP44 standards
- Enable 2-factor authentication while connecting via Bluetooth
- There are a maximum of 500 accounts available
- The device has a long battery life.
Despite the technical details of this hardware wallet, beginners will find it easy to use. It is simple enough for anyone with minimal technical knowledge, yet powerful enough for more experienced users. The SecuX V20 is a great option for anyone looking for advanced features, security, and convenience in a hardware wallet.
Dynamic keypad implementation for entering PIN prevents unauthorized access to the device through fingerprint tracing. If someone enters the wrong PIN more than 5 times, the wallet will reset itself. Simply put, the SecuX V20 offers advanced features at an affordable price. It's a great choice for those looking to invest in both NFTs and cryptocurrencies.
The Arculus is a futuristic cold wallet with advanced security features like biometric authentication, NFC connectivity, and multi-signature support. It supports over 1,000 cryptocurrencies and has a sleek and compact design. As the size of a credit card, the Arculus is easy to carry with you and makes it convenient for on-the-go transactions. This is an interesting crypto wallet because it can covertly be stored in your normal physical wallet alongside your IDs and credit cards.
These features make it difficult for anyone to access your crypto assets even in the event of a lost or stolen device. Users can authenticate with their fingerprint, face, or voice, adding an extra layer of security. It may not be as popular as some of the other more established wallets mentioned in this article, but it is in the running for one of the best crypto wallets of 2023.
Key features of the Arculus cold wallet:
- Biometric authentication using fingerprint, face, or voice
- NFC connectivity for easy pairing with mobile devices
- Supports over 1,000 cryptocurrencies
- Sleek and compact design.
With a "3-Factor Authentication" hacking becomes impossible because it is also not connected to anything. This means that even if a hacker gains access to your device, he will still not be able to access your funds. By having this cutting-edge security in your back pocket, the Arculus wallet keeps your funds safe and secure.
The wallet also supports NFC connectivity, allowing for easy pairing with mobile devices. With additional app support to go along with the card, users can easily make transactions and manage their funds. While it has not yet been extensively reviewed, its unique features and design have already generated interest among crypto enthusiasts. It remains to be seen how it will compare to more established cold wallets in terms of security and ease of use.
How to Choose the Best Hardware Wallet
Choosing the right cold wallet can be a daunting task. Here are a few factors to consider when selecting a hardware wallet:
Supported cryptocurrencies: Ensure the wallet supports the cryptocurrencies you want to store. You don't want to end up with a wallet that can't hold your desired coins. Most devices will display the coins they support on their website. If unsure, feel free to reach out to their staff for clarification.
Ease of use: Look for a wallet with a user-friendly interface that is easy to navigate. Even if you are an experienced user, you will appreciate the convenience of a simple and intuitive wallet. Don't neglect wallets with added features like biometric authentication if you are looking for extra security but also convenience.
Security features: Consider wallets that have advanced security features like two-factor authentication, PIN codes, and biometric identification. If you fear remote access to your wallet, look for an offline-only model. It's also helpful to check the wallet's recovery phrase process to ensure you will be able to access your funds if you ever lose or forget your PIN.
Size and design: Consider the size and design of the wallet. Some wallets are compact and portable, while others are larger and offer more features. If you are someone that is looking to access your funds often, a smaller solution may be preferable. On the other hand, those who are looking for extra features and added security may prefer a larger device as the space typically enables more features.
Price: Compare the prices of different wallets to find one that offers the best value for your budget. Remember, investing in a high-quality wallet is worth the cost for the added security and peace of mind. The differences in pricing for these wallets are not massive and each brand will have sale events throughout the year.
Hardware Wallet Pros and Cons
Hardware wallets are a popular and secure way to store cryptocurrencies, but like any technology, they have pros and cons.
Pros of a Hardware Wallet
- Added Security: Hardware wallets provide an extra layer of security since private keys are stored offline, making them less vulnerable to hacking attempts or malware.
- Convenience: Hardware wallets offer a more user-friendly and convenient way to store cryptocurrencies. They usually come with a user-friendly interface that makes it easy to manage multiple cryptocurrencies.
- Portability: Hardware wallets are compact and easy to carry around, making them ideal for those who need to access their cryptocurrencies on the go.
Cons of a Hardware Wallet
- Risk of Loss: Hardware wallets can be lost, just like any other physical device, which could lead to the loss of all the cryptocurrencies stored on them.
- Higher Cost: Hardware wallets are relatively expensive compared to other wallets, such as software or paper wallets.
- Dependency on Technology: Hardware wallets rely on technology and electricity to function. In case of a hardware malfunction or failure, you may lose access to your cryptocurrencies.
Hardware Wallet Security Tips
Hardware wallets are an effective way to secure your cryptocurrencies but can still be vulnerable if not used properly. Here are some tips to keep your hardware wallet secure:
Keep your recovery seed phrase safe: Your seed phrase is the key to accessing your wallet, so it's crucial to keep it in a safe place where no one else can find it. Some brands mentioned in this article also supply metal plates for you to keep your seed phrase safe.
Use a strong password and enable two-factor authentication: Adding an extra layer of security with a strong password and two-factor authentication can greatly reduce the risk of unauthorized access to your wallet. With a passcode to go along with your private key phrase, you can be sure that only you can access your funds.
Keep your device updated with the latest firmware: Keeping your device up-to-date with the latest security patches and firmware updates can help protect against any potential vulnerabilities. Open the application that is associated with the hardware wallet and check for any available updates.
Research the company: Do your research before investing in a hardware wallet to ensure that it is a reliable and trustworthy brand. You can check the company's website for reviews, and customer feedback, or read detailed articles about them online.
Only purchase from official sources: It's important to buy your hardware wallet from an official source to avoid getting a counterfeit version of the device. Hacked versions that are advertised as cheaper alternatives often contain malware that can steal your funds.
Overall, investing in a good cold wallet is crucial for anyone looking to keep their crypto assets safe from online threats. The top 10 cold wallets we've listed here offer varying features, levels of security, and price points, allowing you to choose the best one for your needs. All of the hardware wallets mentioned in this article have been thoroughly tested and are considered to be the most secure cold wallets in the industry.
Remember to always keep your private keys secure and never share them with anyone, as losing access to them can mean losing your assets. With the right cold wallet and proper security measures in place, you can rest assured that your crypto holdings are in good hands. There are also no problems with owning multiple hardware wallets for additional security. This may seem excessive but it is always better to be safe than sorry.
Do I need a hardware wallet?
If you hold any significant amount of cryptocurrency, then using a hardware wallet for storage is highly recommended. Hardware wallets offer an added layer of security by keeping your private keys offline, greatly reducing the risk of theft or loss.
Can hardware wallets store any crypto?
Different hardware wallets support different cryptocurrencies. However, most of the popular hardware wallets support a wide range of cryptocurrencies. It is important to check the list of supported coins before purchasing a hardware wallet.
Which hardware wallet supports the most coins?
The Ledger Nano X and the Trezor Model T are two hardware wallets that support the most coins. The Ledger Nano X supports over 1,800 coins and tokens, while the Trezor Model T supports over 1,600 coins and tokens.
Which is the most secure hardware wallet?
The most secure hardware wallets are those that offer advanced security features such as complete network isolation, two-factor authentication, and air-gapped cold storage. The Ledger Nano X and the Trezor Model T are considered to be among the most secure hardware wallets.
Which wallet is best for beginners?
For beginners, it is recommended to use a hardware wallet with a user-friendly interface and an easy setup process. The Ledger Nano S and the Trezor One are both great options for beginners.
Which wallet is best for advanced users?
Advanced users may prefer a hardware wallet with more advanced features and customization options. The Ledger Nano X and the Trezor Model T are both great options for advanced users, as they offer a wide range of features and support for multiple cryptocurrencies.
About the author
A professional crypto trader writes expert articles about cryptocurrencies: explore the world of blockchain and technology through guides, reviews and how-to by Farhat Ullah