Best Crypto Cold Wallet – Keep Your Crypto Safe in 2023

Peter Torman

Contributor • Fact checker

Updated: May 23, 2023, 11:17 AM

TLDR

Cold wallets are storage devices that do not contain any private information. It does not connect to the Internet, nor can it be accessed by anyone. This type of wallet allows users to securely store their digital assets without the risk of being hacked or losing any funds.

The best wallets for cold storage are hardware wallets and paper wallets. Hardware wallets are offline devices that store your cryptocurrency offline and do not connect to the Internet. Paper wallets are offline devices that store your cryptocurrencies offline. Still, they can be accessed through a USB or paper key.

Introduction

The question of the best crypto wallet has been asked for a long time. However, it is only recently that we have seen a lot of different types of wallets available in the market.

The most common questions about cold wallets are why do you need a crypto wallet? And which crypto cold wallets are the best for you? You can get answers to these questions by reading this article.

What is a Crypto Wallet?

A crypto wallet is a digital wallet that stores your cryptocurrency in the cloud or on your computer. This means you can access your cryptocurrency from anywhere with an internet connection.

If you want to keep your cryptocurrency safe and secure, you need a crypto wallet.

Importance of Crypto Wallets

A cryptocurrency wallet is a software or hardware tool that allows you to control your digital currency, such as Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies. These coins and tokens can be stored in a blockchain digital ledger. The blockchain is a distributed public ledger that records all transactions on the network. A crypto wallet contains your private key, which allows you to access your coin or token on the blockchain network.

With a crypto wallet, you can send, receive, and trade cryptocurrencies without buying other assets like stocks and bonds. You can also trade in real-time without waiting for exchanges to open their doors for trading.

Let’s look at some of the most popular types of crypto wallets.

Types of Crypto Wallets

Offline wallets (cold storage)

These wallets store your private keys offline onto a device such as a USB stick, hard drive, or paper wallet. This means that if someone else gets hold of this USB stick or hard drive, they won’t be able to access your coins. You should only use these types of wallets if you’re willing to take extra precautions with them, such as ensuring they’re not connected to the internet at all times.

Hardware wallets

These physical devices store private keys on a secure chip, preventing them from being hacked by malware. They usually come in the form of USB sticks or cards rather than mobile devices, making them easy to carry around wherever you go. Hardware wallets are great for beginners because they can be used as cold storage and allow access from anywhere with an internet connection (e.g., desktop pc).

Hot wallets

These wallets have private keys, which means they are connected to the internet. This means that if hackers steal your funds, they can use them too. Hot wallets are not recommended for long-term storage of cryptocurrencies because they are susceptible to theft or loss.

What is a Cold Wallet?

Cold wallets do not have a connection to the internet and store your private keys offline in secure hardware devices like USB drives or paper printouts. They’re safer than hot wallets but not as safe as hardware wallets like TREZOR or Ledger Nano S.

How Do Crypto Cold Wallets Work?

A crypto cold wallet is a digital wallet that stores cryptocurrency offline. It is not connected to the internet and does not have access to the funds stored in it.

A crypto cold wallet can be used for storing funds on an exchange or in a wallet you control.

The term “cold” refers to the fact that these wallets do not require internet access to work. They are sometimes called “hardware wallets” because they are designed for offline use.

The two main factors that determine how to secure a crypto cold wallet is:

The security of the hardware used to store data
The security of the software used to encrypt information inside the hardware.

What are the important Pros and Cons of Cold Crypto Wallets?

Pros

Cold wallets are more secure than hot wallets. This is because there is no internet access to the wallet so no one can hack it.

Cold wallets are safer against malware attacks than hot wallets. This is because malware must be installed on your device before it can target your crypto assets. Consequently, cold wallets are more secure against such attacks.

Cold wallets are also more secure against phishing and other online scams because they don’t have any internet connection and hence cannot be infected by viruses or malware.

Cold-storage wallets are the safest way to store crypto, as they are not connected to the internet and hence are not vulnerable to hacks or malware attacks.
The most important advantage of cold wallets is that they don’t require a private key to be stored on your computer. That means no one can access your wallet without your permission, and you won’t need to worry about some hacker stealing your cryptocurrency by taking over your computer.
Another advantage of cold wallets is that they have a single point of failure, which means that if one device fails, the whole system has no more functionality. This makes them very secure and safe for storing large amounts of cryptocurrencies because it prevents someone from taking over all your funds simultaneously.
Cold wallets also make it easy for users to send money from their cryptocurrency exchanges or wallets to other people and organizations via email or text message because no specialized software or hardware is needed for this purpose. All you need is a smartphone with an internet connection, so this feature makes it easier than ever before to send funds across the world without any delays involved in doing so!

Cons

Cold wallets take up a lot of space on your hard drive as they require a lot of space to safely store all your private keys in an offline environment. This makes them impractical if you want to hold only small amounts of digital currency like those found on most exchanges or wallet services.

Types of Crypto Cold Wallets

There are three main types of cold wallets: paper wallets, hardware wallets, and paper restore systems. Each has its own pros and cons, but all are secure options for keeping your cryptocurrency safe.

A paper wallet is a piece of paper with your public address printed. You’ll have to write down the address yourself (for security reasons), but this method is very simple and doesn’t require much time or effort to set up.

You can also print multiple copies if you share your digital wallet with someone else. It’s not as secure as other cryptocurrency storage methods because anyone with access to your physical wallet could spend your funds anytime. However, it’s still better than leaving them online and exposing them to malware attacks and hacker exploits.

A hardware wallet is similar to a mobile phone or tablet, connecting directly to your computer via a USB port or Bluetooth connection.

Best Crypto Hardware Wallets for Cold Storage (2023)

Cold storage is a term that gets thrown around a lot in the crypto world. But what is it? And how do you store your cryptocurrency in cold storage?

Cold storage or wallets are digital wallets stored offline (in the cloud or on paper). They allow you to keep your cryptocurrency in an offline wallet and not worry about any third-party hacks or hacks of exchanges.

There are two main reasons cold wallets are safer than hot wallets: they are more secure and anonymous. While both hot and cold wallets are used for storing cryptocurrencies, there are some key differences between the two types of wallets.

With plenty of crypto cold storage in the market, choosing the best becomes tedious. But let’s look at some of the best crypto cold wallets for cold storage in 2023.

Ledger Nano X

Ledger Nano X is a simple and intuitive hardware wallet that connects your Bitcoin, Ethereum, Litecoin, and altcoins to your computer or smartphone. Your private keys are secured in a PIN-protected smartcard and are never exposed, keeping your assets are always safe with you!

Ledger Nano X is a powerful smartcard security device for multi-signature transactions. The Nano X features a touchscreen LCD and advanced operational security features for greater peace of mind.

In 2023, the Ledger Nano X will become a must-have hardware wallet for anyone who wants to keep their crypto safe from hackers, thieves, and even themselves.

It has an OLED screen that displays the information you need to access your coins, such as the current balance of your account. You can also use it to send and receive cryptocurrency payments in real-time.

The device is compatible with multiple operating systems, including Windows, Mac OS X, and Linux. It also supports 32-bit and 64-bit operating systems on a laptop or desktop computer.

The Ledger Nano X is available in black, blue, or orange. You can also customize the device with stickers for different cryptocurrencies. It is made from stainless steel and aluminum alloy material with a 256-bit encryption security chip inside.

Pros

Stores over 5,500 cryptocurrencies
Simultaneously run 100 blockchains
Very secure

Cons

Very expensive
Can’t stake lots of cryptos.

Ledger Nano S Plus

Ledger Nano S Plus is a cryptocurrency hardware wallet that supports Bitcoin, Ethereum, and other ERC20 tokens. It is one of the most popular cryptocurrency wallets in the world.

The Ledger Nano S Plus has a built-in display and an OLED screen showing the address and transaction details. It also supports higher security features such as PIN backup, TEE (Trusted Execution Environment), and OTP (One-Time-Password) applications.

Several other security features include PIN protection, fingerprint login, and more.

The Ledger Nano S Plus is a better version of the Ledger Nano S. It has a larger capacity, memory, and a faster chip. This makes it more suitable for cold storage than the standard model.

The main benefit of this device is that it stores multiple currencies on one device. It also comes with an app as a USB-based crypto wallet that works with all these cryptocurrencies.

In addition to storing multiple cryptocurrencies simultaneously, this hardware wallet supports ERC20 tokens such as Ether and XRP. This makes it one of the most versatile hardware wallets available today.

It’s important to note that this device does not come with any software or support from Ledger itself, so you’ll need to download the latest firmware from their website before using it for the first time (it has no setup process). You’ll be ready to go once you have downloaded and installed the latest firmware onto your device!

The Ledger Nano S Plus is the most popular cold wallet in the cryptocurrency industry. That is very easy to use and has an intuitive graphical user interface (GUI).

The Ledger Nano S Plus can store up to 100 different cryptocurrencies at once and supports almost every type of cryptocurrency.

Pros

It can be synced with Metaverse
Stores over 5,500 cryptocurrencies
Simultaneously run 100 blockchains

Cons

No Bluetooth
No iOS
Can’t stake lots of cryptos.

Trezor Model T

The Trezor Model T is a hardware wallet that stores your private key in a secure element. The private key cannot be accessed once it has been sent to the device. This makes it one of the most secure and convenient ways to store your cryptocurrencies safely.

The only downside is that it is expensive but worth it if you want to keep your crypto assets safe.

The safest and most secure cold storage solution is the Trezor Model T. It has an internal battery that will keep your private key safe and secure. The device has a screen that displays the current balance and transaction history. You can also set up a PIN code to protect your device from unauthorized access.

The Trezor Model T has a small form factor, making it easy to carry around with you everywhere you go. It also has a USB-C port on its side that allows you to use it as a regular USB flash drive when not in use as a cold wallet.

The TREZOR Model T is one of the most secure and compact cold wallets on the market today, but it does come at a price. It is more expensive than other options available on this list.

Pros

Large touch screen
Supports over 1,450+ assets
Anonymous transactions

Cons

Expensive
No staking
Supports a few blockchains.

SafePal S1

The SafePal S1 is a USB device you can use to store your cryptocurrency safely. This is a cold wallet that you can use to safeguard your crypto against hackers and thieves. It also has the ability to provide you with a backup option in case of emergency situations.

The SafePal S1 is simple and easy to use. It’s compatible with most operating systems and has a user guide, so you’ll get started immediately without any problems. The device comes in two versions: one for individuals and one for businesses, both of which have similar features but come at different price points depending on how many coins you want to store.

The first thing to note about SafePal S1 is that it’s not a mobile device; you can’t just keep it in your pocket and use it whenever you want. It’s also not exactly portable: at least one USB port on the device must be connected to a computer, so if you want to move it from one location to another, you’ll need an extra cable.

But for most people, this isn’t an issue — especially if they plan to keep their coins offline for most of the year. And if you don’t have much money invested in cryptocurrencies, there’s no reason you should buy one of those fancy cards with all kinds of fees attached and then carry the thing around wherever you go (you know what I’m talking about).

The SafePal S1 can hold up to 1,000 private keys and is compatible with the Ledger Nano S. It connects to your computer via a USB cable and has a green light that indicates it’s connected.

You can use this wallet as a cold storage solution for your cryptocurrency. The Ledger Nano S is one of the best crypto wallets for cold storage, but it won’t work with coins that require more than 8 addresses. If you want to store multiple cryptocurrencies on your Ledger Nano S, then you’ll need the SafePal S1.

The SafePal S1 comes with an 18-month warranty and offers full support if anything goes wrong. They also offer 24/7 customer service via email or phone if you need help setting up or using this wallet.

Pros

Affordable
Supports 54 blockchains, 15 languages, and over 10,000 cryptos
Self-destructs to defend against malware

Cons

Difficult activation processes
Complex transactions.

Trezor Model One

The Trezor Model One is a popular crypto hardware wallet that can store the majority of cryptocurrencies. It’s similar to the Ledger Nano S, but it’s more affordable and can be used on mobile devices.

Model one has a small screen that displays the balance of your crypto as well as a PIN number that you must input before making any transactions. This makes it very easy to use, but it also means that there is no way to view your private keys.

This is the best place to start if you want to make transactions without an exchange or an online wallet. It’s not as secure as the Ledger Nano S or other alternatives, but it’s still very safe and convenient.

The Trezor Model One is a USB device that can be plugged into any computer or smartphone. It also has a small OLED screen that shows your account’s current balance and transaction history.

It’s a bit pricey but worth it if you want a reliable cold storage wallet for your coins.

Trezor Model One can store up to 4,000 coins in a single wallet, making it well-suited for any type of cryptocurrency. The device also supports multiple languages, including English, Spanish, French, German, and Italian.

Pros

Over 1,280 cryptocurrencies
Easy to use
Moderately priced.

Cons

Not compatible with iOS
Supports few blockchains
No staking

Ledger Stax

Ledger Stax is a multi-currency cold wallet that supports Bitcoin, Ethereum, and many other coins. It’s made with the Ledger Nano S, an extremely secure hardware wallet many cryptocurrencies use to store their private keys.

Stax supports a variety of coins, including Bitcoin, Ethereum, Litecoin, and Dogecoin, as well as ERC-20 tokens like Gnosis and Golem.

It’s also very easy to use, and you can set up your account in just a few minutes. The interface is simple and intuitive, so you won’t have problems getting started.

Although a new product from Ledger that aims to bring all your cryptocurrencies together in one place, Ledger Stax is competing favorably against others. It’s an open-source wallet that supports multiple cryptocurrencies and has a built-in exchange.

The main selling point of this wallet over other wallets is that it comes with its own cold storage device called the Ledger Stax. The Ledger Stax is a USB device designed to store your cryptocurrency offline so that hackers and governments can’t get access to it.

The Ledger Stax can be used as a USB stick or an ordinary hard drive. It supports up to 20 cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Litecoin.

This might be the best crypto cold wallet if you want to keep your cryptocurrencies safe without holding them by a third-party company.

The Ledger Stax has two versions: a USB model for offline storage and an eSATA model for online transactions. The latter can be used with any PC that has an eSATA port. The company claims it has “the best customer support of all the cold wallets on the market.”

Pros

Wireless charging
Bluetooth enabled
Security can be customized with NFTs.

Cons

Very expensive
Not many cryptos can be staked.

COLDCARD Mk4

COLDCARD Mk4 is the best cold wallet for storing your crypto. It’s like a traditional hard drive, but you can store your cryptocurrency offline.

COLDCARD Mk4 is a desktop-style wallet that securely stores your cryptocurrencies offline. It’s not a hardware wallet, but it works similarly and offers the same level of security as hardware wallets. The main difference between COLDCARD Mk4 and other cold wallets is that this one has an interface to easily see your balance and transactions in one place.

You can also use COLDCARD Mk4 to manage multiple cryptocurrencies at once. This makes it easier than ever before to keep track of all your different coins!

Features:

Plug and play — No software is required.
Encrypted — Password protected with military-grade encryption & AES 256-bit hardware-based encryption.
Multi-currency — Supports multiple cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and more.
Tamper-resistant — PIN protected to prevent physical or electronic access by anyone but you.
Secure data transfer — Uses 128-bit advanced USB encryption protocol to ensure secure data transfer between devices.

Pros

Very secure
No need to connect to a computer
Multi-sig enabled

Cons

Support Bitcoin only
Not easy to use.

Blockstream Jade

Blockstream Jade is a cryptocurrency wallet that stores your private keys on a secure USB device. The device can be plugged into any PC or laptop to access your funds, or you can use it as a standalone device for everyday transactions and keeping your crypto safe.

Jade supports a variety of cryptocurrencies, including Bitcoin and Ethereum. It also has a built-in exchange rate calculator and tooltips for more information about each coin.

Blockstream Jade is a hybrid cold wallet combining two different cold storage forms: offline and paper.

Offline storage means the private key is stored in a secure hardware device that you can keep in a safe place. Use this kind of storage because it’s safer from any attack, including malware or hacking.

The paper version is simply a piece of paper with your private key written on it. You can write it down and keep it within reach at all times. However, this method might not be as secure as offline storage due to its increased visibility to anyone who wants to see them (and possibly steal them).

Pros

Supports multi-sig
Affordable
Bluetooth enabled

Cons

Only Bitcoin supported
Bluetooth works with iOS only.

Bonus Crypto Cold Wallet – Billfodl

A professional wallet with all the necessary features, including multi-signature support, private keys recovery, and much more. It’s easy to use and has a mobile app as well. The company behind BillFoldl has an excellent reputation in the industry and has been around since 2013.

Pros

Affordable
Preserves your recovery phrase better

Cons

Bulky designs
Clumsy usage.

Best Crypto Wallet Reviews

You should have seen the best crypto cold wallets for storing your crypto assets by now. If you have not, then this short review will help you out.

Ledger Nano X – This is the best hardware wallet overall.
Ledger Nano S Plus – This is the best value hardware wallet.
Trezor Model T is the best hardware wallet for experienced users and advanced crypto enthusiasts.
SafePal S1 – This is the best budget hardware wallet. It is one of the cheapest on this list.
Trezor Model One – If you want originality, go for this. This is the original hardware wallet.
Ledger Stax – This is one of the best-designed hardware wallets in the crypto space you can ever get.
COLDCARD Mk4 – If you are looking for a cold wallet for Bitcoin, this is the Best hardware wallet for Bitcoin
Blockstream Jade – Although versatile, Jade is best seen as the best wallet for Bitcoin layer-2 assets.
Billfodl – On our bonus list is Billfodl which has the Best recovery phrase backup device.

What do you Need to Consider When Choosing a Cryptocurrency Cold Wallet?

When you conclude that cold storage will fit your crypto storage and Keep it safe, there are steps you will take to have a good cold wallet.

There are many interesting and amazing wallets in the crypto market, and not all are alike. To know the best, you need to look out for the following:

Security features

One of the first and most important things you need to consider is if the crypto wallet is secure and the level of security. Look out for the wallet’s security features, and check if there are any verification processes. Also, take a stroll through the wallet’s security history to know if it has been vulnerable in the past.

Usage

The best crypto cold wallets are easy to use by a beginner or an advanced crypto enthusiast. Check the setup and the process and know the level of difficulty you might experience using the storage. If a wallet is not easy to use or very complicated, then stay away from it to avoid losing your crypto assets mistakenly.

Supported coins

Before settling for any wallet, make sure it is compatible with the crypto assets you plan to store.

Supported operating systems

Aside from the supported cryptocurrencies, you also need to look out for supported operating systems and know if you have the necessary gadgets or requirements to use the storage. While most cold wallets come with their special Operating systems, others can be used with a third-party wallet.

Backup and restore process

Another thing you need to check out when going for a crypto cold wallet is the backup and restore process. Is the process easy? Does it strengthen your security? Can it make you lose your crypto assets while trying to be safe? These are all that you need to answer before choosing a wallet.

Price

Do not go for expensive cold wallets except you have a reason for that. Before getting a wallet, ensure the device is worth what you pay, not less.

Portability

When going for cold storage, you need to ask yourself where you will need the device and how easy it would be to carry it around. So, don’t buy too heavy or too large wallets so you can move it as easily as you want.

Do your research

Before settling for any cold storage, even the ones mentioned here, research the wallet, its company, pros and cons, and what other people, not paid but with true experience with the device, have to say about the wallet.

Considering all of these, deciding which crypto cold water you should pick wouldn’t be difficult.

What are the Diverse Kinds of Cryptocurrency Wallets?

There are numerous kinds of cryptocurrency wallets. A few of them are:

Desktop Wallets

Desktop wallets are desktop applications that store your private keys and make transactions. They’re designed to be easy to use, but they’re also the least secure in terms of security.

Mobile Wallets

Mobile wallets are apps that store your private keys and make transactions on your mobile device. They’re typically less secure than desktop wallets, but they’re much easier to use and have some security advantages over desktop wallets.

Hardware Wallets

Hardware wallets are physical devices that store your private keys and make transactions on your hardware wallet device. They’re very secure but also bulky and take up a lot of space in your bag or pocket. The Ledger Nano S is one popular hardware wallet device.

Hot wallet

A hot wallet is a software that holds the private keys to your cryptocurrency. It’s the most common type of wallet, and you’ll use it to make transactions.

Cold wallet

A cold wallet is a hardware device or a paper wallet that stores your private keys securely offline. You can store your coins in a hardware device such as a Ledger Nano S or Trezor or print out paper wallets and store them securely.

Paper wallets

Paper wallets are physical copies of your private keys printed from your computer on pieces of paper. They’re basically just random numbers written down on pieces of paper and stored somewhere safe (a safe deposit box at the bank, for example). You won’t be able to access your cash if you lose this piece of paper because not even the bank knows what it is!

What is the Main Difference Between a Hot Wallet and Cold Wallet?

The main difference between a hot wallet and a cold wallet is that hot wallets are connected to the internet, while cold wallets do not.

Hot wallets allow you to send funds from one address to another, but you must have them connected to the internet to work. If the internet goes down for any reason, your coins will be lost forever.

On the other hand, cold wallets store your private keys offline and do not require an internet connection for operation. This makes them more secure than hot wallets because if an attacker gains access to your computer or even steals a copy of your private key, they won’t be able to steal your coins.

However, while cold wallets are much safer than hot wallets, they are also slower compared to hot wallets because they don’t have instant access to the blockchain network. This can make them impractical for day-to-day use unless you’re only looking at buying or selling small amounts of crypto assets on exchanges or in person with cash.

Why should you secure your Crypto Assets?

In a world where tech is continuously changing and new blockchain projects are popping up daily, it’s important to be prepared. A large percentage of the population doesn’t have the time or resources to spend hours researching each crypto project. This means that most people will invest in something they don’t fully understand, which could lead to losing their money.

The safest way to store cryptocurrency is by using cold storage. Cold storage refers to storing crypto assets offline (usually on a computer) rather than online on an exchange. This allows users to keep their assets safe from hackers and thieves who may try to access them over the internet.

What is the Safest Crypto Wallet?

Many different types of cold wallets exist today. Still, some of the most popular ones include Trezor and Ledger Nano S. These devices come with a screen that displays a 24-word mnemonic phrase that you will use when signing transactions with your private key (a string of numbers). The purpose of these devices is so that you don’t have to carry around your entire crypto portfolio every time you go out – instead, all you need is this device.

What is the Top Bitcoin Wallet?

The best Bitcoin wallet is Coinbase because it has the largest number of coins available and offers amazing security features like 2FA and email confirmations. We recommend using this wallet to store more than $10,000 worth of cryptocurrency. They also provide up to $250,000 in customer support for their customers worldwide.

What are the Top 3 Crypto Wallets?

The top three crypto cold wallets are

Ledger Nano X – This is the best hardware wallet overall.

Ledger Nano S Plus – This is the best value hardware wallet.

Trezor Model T is the best hardware wallet for experienced users and advanced crypto enthusiasts.

Should I keep my crypto in a cold wallet?

The cold wallet is a hardware device that stores your private key and allows you to transact without any internet connection or computer system. You keep this hardware device very secure in a safe place (e.g., a safe deposit box) so that it cannot be hacked or stolen by someone else.

What is the most reliable crypto wallet?

The most reliable crypto wallet is the one you feel most comfortable with. If you have a lot of money, then you might want to use a hardware wallet that is more secure than an online wallet. However, starting with cryptocurrency, starting with an online or mobile-based wallet is best.

Who has the safest crypto wallet?

Conclusion

Cold wallets are more secure than your average desktop computer, so you must use one whenever possible. They can be as small as a USB stick or as big as an external hard drive, and they work by storing private keys on the device itself instead of on your computer’s hard drive. This makes them very difficult for hackers to access unless they know where the device is, too, so they will never get into any information stored on it!