06/13/2024
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CoolWallet

CoolWallet

CoolWallet is a mobile hardware wallet developed by CoolBitX, a Taiwanese company established in 2014. It is designed to combine security and portability, offering a unique credit card-style design controlled solely from a mobile app via a Bluetooth connection.

About CoolWallet

Foundation 2014
Headquarters   Taipei City, Taiwan
Founders CoolBitX, Michael Ou
Revenue Around $7.9 million to $9.4 million
Products Hardware wallets and accessories

CoolBitX's primary product is the CoolWallet, a mobile hardware wallet designed for the secure storage and management of cryptocurrencies. The wallet is known for its unique credit card-style design and Bluetooth connectivity, allowing users to manage their cryptocurrencies on the go. It supports a variety of cryptocurrencies, including Bitcoin, Ethereum, XRP, USDT, ERC20 Tokens, and BEP20 Tokens. The wallet also features an in-built exchange for swapping cryptocurrencies and offers both cold and hot storage options.

In addition to CoolWallet, CoolBitX also provides blockchain security solutions and is working on building the infrastructure necessary to bridge the gap between the mainstream market and the crypto industry.

Products 

CoolWallet offers a range of products designed to provide secure and convenient storage for cryptocurrencies. Here are the key products:  

CoolWallet S 


Source and Copyright © CoolWallet

This is a credit card-sized hardware wallet that is bendable, water-resistant, and tamper-proof. It supports multiple cryptocurrencies and offers simple and direct marketplace trading features. It also allows users to enjoy DeFi and DApp platforms via WalletConnect. The price of the CoolWallet S ranges from $69.30 on Amazon to $99.00 on the official CoolWallet website. It's also listed for $60.00 on AAAWAVE.

CoolWallet Pro


Source and Copyright © CoolWallet

If you're looking for a safe way to navigate the world of Web3, then consider CoolWallet Pro. It's a unique hardware wallet that not only offers elite cold storage protection but also convenience. With CoolWallet Pro, you can manage your crypto, DeFi, and NFT assets safely and discreetly from anywhere, at any time.

This advanced version of the CoolWallet offers elite cold storage protection and convenience. It includes an EAL6+ SE, encrypted Bluetooth, multi-coin support, and a feature-rich app. It also allows users to manage their crypto, DeFi, and NFT assets safely and discreetly. The CoolWallet Pro is priced at $149.00 on the official CoolWallet website.

CoolWallet Duo Plus


Source and Copyright © CoolWallet

This package includes both the CoolWallet Pro and CoolWallet S, offering users the flexibility to choose between the two depending on their needs. This package is priced at $238.00 on the official CoolWallet website.

The CoolWallet Billfodl


Source and Copyright © CoolWallet

It's essential to keep your cryptocurrency safe by securing your keys. The CoolWallet Billfodl is a wallet made of fire and water-resistant steel that protects your recovery seed from environmental hazards. You can further enhance its security by locking it with two locks to ensure that your crypto defense is impregnable. The price of the CoolWallet Billfodl is $129.00, and it's important to note that duties and taxes may not be included in the price.

Crypto.com x CoolWallet Pro


Source and Copyright © CoolWallet

Advanced cold wallet with elite cold storage protection and convenience. Includes an EAL6+ SE, encrypted Bluetooth, multi-coin support, and a feature-rich app.

CoolWallet Pro x Senbenito


Source and Copyright © CoolWallet

This is a limited edition artist CoolWallet Pro designed in collaboration with Senbenito, a French infrared photographer and artist. It offers the same features as the standard CoolWallet Pro. CoolWallet Pro x Senbenito costs $149.00 on CoolWallet official website.

CoolWallet Pro x Metavisions by Neontenic


Source and Copyright © CoolWallet

Neontenic is a talented synthwave musician and artist hailing from Italy. He is well-known for his futuristic style, which combines synthetic sound with captivating visual imagery to create an optical adventure of melodic escapades. 

CoolWallet Pro comes with a range of features, including an EAL6+ SE, encrypted Bluetooth, multi-coin support, and a feature-rich App. The price for this product is $149.00, but please note that this may not include duties and taxes.

CoolWallet Pro x Puppetz by Sergi Tugas


Source and Copyright © CoolWallet

Sergi is a surrealist artist hailing from Spain, renowned for his conceptual style. His art pieces capture raw emotions that take us on a contemplative journey to explore dreams, fear, society, and humanity. CoolWallet Pro comes with a range of features, including an EAL6+ SE, encrypted Bluetooth, multi-coin support, and a feature-rich App. The price of this wallet is also $149.00, the same as the CoolWallet Pro. However, please note that the price may not include duties and taxes.

CoolWallet S x Binance Chain


Source and Copyright © CoolWallet

Experience the convenience of credit card-sized portability with this product. It is bendable, water-resistant, and tamper-proof, making it extra durable. It is one of the thinnest and most stylish cold wallets. 

This product features a CC EAL5+ certified secure element chip, ensuring the highest level of security. It is constantly updated to support multiple cryptocurrencies. Simple and direct marketplace trading features, as well as DeFi and Dapp platforms via WalletConnect. One can get all these features for $99.00.

CoolWallet S x Huobi


Source and Copyright © CoolWallet

CoolWallet offers a credit card-sized, portable, and durable cold wallet that is bendable, water-resistant, and tamper-proof. It is also stylish and thin. The wallet's CC EAL5+ certified Secure Element chip ensures maximum security for your cryptocurrencies. It supports multiple cryptocurrencies that are regularly updated, as well as direct marketplace trading features. With the WalletConnect feature, you can enjoy DeFi and Dapp platforms seamlessly. One can get these features for $99.00.

All CoolWallet products come with a user-friendly mobile app that allows you to conveniently manage your crypto assets. The app supports various functions, including buying, selling, exchanging, and staking crypto assets.

How to set up a CoolWallet?

Here is a structured guide on how to set up a CoolWallet:

  1. Open the CoolWallet App: Allow the app to use Bluetooth and notifications for the latest updates and price updates on selected coins.
  2. Know Your Card: Familiarize yourself with the card's serial number, physical button, e-paper display, and charging pins.
  3. Download the App: Download the CoolWallet App from the respective app store.
  4. Charging Instructions: Connect your CoolWallet to power during the initial setup and firmware updates. Match the "lightning" icon on your CoolWallet with the "arrow" icon on the charger deck.
  5. Pairing: Open the CoolWallet App, allow Bluetooth pairing, and complete the pairing process by typing in the numbers displayed on the e-paper.
  6. Firmware Update: Connect your CoolWallet to power for firmware updates. The update may take 2-10 minutes to complete.
  7. Recovery Seed: Have a pen and a recovery seed card ready for the next steps.

These steps provide a general overview of the CoolWallet setup process. For detailed instructions, you can refer to the official CoolWallet website or watch video tutorials available on platforms like YouTube.

How to complete a transaction in the CoolWallet?

To complete a transaction using CoolWallet, you can follow these general steps:

  1. Open the CoolWallet App on your mobile device.
  2. Set Up Transaction Details: Click on the appropriate icon or option to set up your transaction details within the CoolWallet App.
  3. Confirm Transaction Details: Confirm that the transaction details are correct within the app.
  4. Connect to CoolWallet: Follow the instructions on the CoolWallet App to connect your CoolWallet device over encrypted Bluetooth to authorize the transaction.
  5. Authorize the Transaction: Use your CoolWallet to physically confirm the transaction by pressing its button as requested.
  6. Check Transaction Status: After completing the transaction, check the status on the respective platform or blockchain explorer to confirm the transaction.

These steps provide a general overview of how to complete a transaction using CoolWallet. For specific details on completing transactions for different use cases, such as using MetaMask or accessing DApps, it's advisable to refer to the official CoolWallet resources or user manuals for detailed instructions.

Security features of the CoolWallet

CoolWallet is designed with several security features to ensure the safe storage and management of cryptocurrencies. Here are the main security features:

  • Credit Card-Sized and Lightweight: The CoolWallet is designed to be credit card-sized (0.8mm thick) and lightweight (6g), making it easy to carry and conceal, enhancing its security by minimizing the risk of loss or theft.
  • Encrypted Bluetooth Connection: The CoolWallet utilizes an encrypted Bluetooth connection to enable secure communication with mobile devices, ensuring that transactions and data are transmitted securely.
  • EAL 6+ Certified Secure Element: The CoolWallet Pro features an EAL6+ certified secure element, which is one of the highest security standards in the industry, providing advanced protection for digital assets.
  • Phishing Detector and Transaction Preview: The CoolWallet App includes a phishing detector and transaction preview features to enhance security and prevent unauthorized access or fraudulent transactions.
  • Non-Custodial Wallet: The CoolWallet App is a non-custodial wallet, meaning it does not keep user data, and only the user can access their assets, enhancing privacy and security.
  • Biometric Authentication or Password: The CoolWallet App supports screen lock and transaction verification, allowing users to choose either biometric authentication or a password to unlock and authorize transactions, adding an extra layer of security.

These security features collectively contribute to the overall security and privacy of the CoolWallet, providing users with confidence in the safe storage and management of their digital assets.

CoolWallet Supported Coins

CoolWallet supports a wide range of cryptocurrencies. The CoolWallet Pro supports over 30 main chains and more than 12,000 custom tokens on several chains such as ETH, and BSC. Here are some of the main cryptocurrencies supported by CoolWallet: Bitcoin (BTC), Ethereum (ETH), Binance Smart Chain (BSC), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Binance Coin (BNB), Cardano (ADA), Polkadot (DOT), Tron (TRX), Cosmos (ATOM), Solana (SOL), Avalanche (AVAX), Polygon (MATIC), Dogecoin (DOGE), Zcash (ZEC), Stellar (XLM), Tezos (XTZ), Horizen (ZEN), ICON (ICX), etc.

In addition to these, CoolWallet supports all ERC-20, ERC-721, and ERC-1155 tokens. It's important to note that CoolWallet is constantly updating its support for new cryptocurrencies. For the most up-to-date list of supported coins, it's recommended to check the official CoolWallet website.

Pros and cons of CoolWallet

CoolWallet is a hardware wallet that combines security and portability, offering a unique credit card-style design and control solely from a mobile app via a Bluetooth connection. Here are some of the pros and cons of CoolWallet:

Pros

  • Portability and Design: CoolWallet is designed to be the size of a credit card, making it highly portable and easy to carry. It's also waterproof, flexible, temperature-resistant, and tamper-proof.
  • Security: CoolWallet employs various security measures such as transaction confirmation requirements, Bluetooth connection encryption, two-factor authentication, and an EAL6+ certified secure element.
  • Wide Cryptocurrency Support: CoolWallet supports a large variety of crypto assets, including Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, and ERC-20 Tokens.
  • User-Friendly Mobile App: The CoolWallet App maintains a 4.6-star rating after almost 500 reviews and 10k downloads, indicating a well-designed platform.
  • Wireless Connectivity: CoolWallet operates completely wirelessly via Bluetooth, avoiding the need for a USB connection.
  • Battery Life: A battery charge lasts up to two weeks.
  • Inbuilt Exchange: CoolWallet has an inbuilt exchange, allowing users to swap currencies instantly.

Cons

  • Not Open Source: CoolWallet is not open source, which could limit the transparency and community trust in the wallet.
  • Dependence on Mobile Devices: CoolWallet is designed as a pure hardware wallet and only supports Android or iOS devices that have Bluetooth. This could limit its use for those who prefer to manage their wallets on a PC.
  • Potential for Software Bugs: Some users have reported bugs in the Android app that make some features unusable and lead to crashes.
  • Limited Use Cases: Despite its portability and convenience, there are still too few crypto acceptance points to fully utilize CoolWallet.

These pros and cons should be considered when deciding whether to use CoolWallet for managing cryptocurrencies. It's also recommended to keep up-to-date with the latest developments and updates from CoolWallet, as some of these cons may be addressed in future updates.

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