The invention of cryptocurrencies led to the invention of crypto theft. This, in turn, led to the invention of cold storage crypto wallets.
There’s a long, painful history for many investors: the crypto exchanges they use got hacked or their hot wallets, made for browsers, desktops and phones, got compromised.
As such, a crypto hardware wallet is a device every cryptocurrency owner should consider.
Used to store cryptocurrencies in an offline environment, a crypto hardware wallet keeps your private keys from exposure to hackers and computer viruses.
It also allows you to steer clear of the many issues with exchanges, including FTX-style frauds.
However, the fact is even cold storage crypto wallets are not 100% secure. One manufacturer reported a compromise in their firmware and that their wallets were susceptible to man-in-the-middle attacks.
Still, of all the ways there are to store crypto, a hardware wallet is very likely the best for the safety of your digital currencies.
I’ve used a few different crypto hardware wallet brands. Trezor and Ledger are my go-to wallets, as those are two of the most reputable brands in the industry. I’ve never had a problem with either one.
In the last number of years, several other manufacturers, including Ellipal and Arculus, have gone into the hardware wallet business. Some of them look very good and deserve a closer look.
5 Best Cold Storage Crypto Wallet Options
Buying a crypto physical wallet is no small purchase. As you’re using it to protect your valuables, the time and care you put into researching the products is well worth it.
Several manufacturers of hardware wallets make an entry-level model and an advanced model of their crypto hard wallet.
I do suggest you always go with the more advanced model. They typically offer you more features and robust storage of a greater variety of coins.
They also give you the opportunity to scale-up your storage as your crypto portfolio grows. It costs a little more to do so, but it’s well worth it to think a few months or years ahead.
Trezor Model T
This Trezor Model T cold wallet is one of the premier ways to gain your digital independence.
The brand’s heftiest model, it supports more than 1,200 coins. It stores your digital keys and keeps them isolated from online threats.
Featuring an intuitive touchscreen, this Trezor cold wallet allows you to confirm any actions you make on the device.
If the device is damaged or lost, you can simply recover it on another device with a 12-word recovery seed.
Trezor Model T Key Features
- Cryptocurrency wallet, authenticator and digital ID
- Convenient interface to verify and approve transactions
- 12-word recovery seed if your device is damaged or lost
- Device serves as a Universal 2nd-Factor to confirm data
- Supports more than 1,200 coins
Ledger Nano X
You can not only secure your crypto with this Ledger Nano X cold wallet, but also exchange and grow it.
Designed to secure your digital assets in one place, this Bluetooth enabled device allows you to access Ledger’s powerful DeFi apps, NFTs and more.
Featuring a large screen for easy use, this largest-capacity Ledger cold wallet supports more than 5,500 coins.
Ledger Nano X Key Features
- Wallet to secure, exchange and grow crypto portfolio
- Bluetooth-enabled
- Manage NFTs
- Large 128×64 px screen
- Supports more than 5,500 coins
Ellipal Titan
The Ellipal Titan is an air-gapped wallet. It ensures private keys never get exposed to the Internet.
Designed for anti-tamper, this metal, fully sealed wallet has no online components or ports. If the device ever detects a breach, it will self-destruct all data and restore to factory settings.
Notably, this Ellipal wallet has a beautiful four-inch touchscreen. It supports over 10,000 coins and manages NFTs.
Ellipal Titan Key Features
- Air-gapped wallet, secures private keys
- Anti-tamper and data self-destruct features
- 4-inch touchscreen
- Supports 10,000 coins
- Manages NFTs
SecuX V20
Vault-grade security is yours with the SecuX V20 wallet.
Designed to mitigate a variety of risks like cyber-attack, viruses and clone swapping, the SecuX team of experts have their eye on safety. A 2.8-inch touchscreen allows for easy portfolio navigation and verification.
Use the device with a choice of desktop or mobile to manage digital assets. The SecuX supports cross-platform compatibility via Bluetooth.
SecuX V20 Key Features
- Vault-grade security
- 2.8-inch color touchscreen
- Bluetooth-enabled
- Supports 1,000+ coins
- Cross-platform compatibility
Arculus
The Arculus crypto hard wallet, ingeniously configured within a metal key card, is on the leading edge of cold storage solutions.
It offers three-factor authentication security that allows you to store crypto and NFTs offline. The Arculus wallet app lives on your smart phone and allows you to manage your portfolio from anywhere.
The key card stashes easily in your wallet, like a credit card, so you can take it with you anywhere.
Arculus Key Features
- 24/7 secure hard wallet
- Sleek metal card design
- 3-factor authentication
- Supports viewing Ethereum ERC721 and ERC1155 NFTs
- Other NFTs can be stored, but not viewed
Cold Storage Crypto Wallet | Q & A
What’s the difference between a cold storage crypto wallet and a crypto hot wallet?
A crypto hard wallet is a physical device used to store cryptocurrencies that are kept offline.
Because it’s not connected to a device that’s connected to the Internet at all times, it’s not as accessible to hackers and vulnerable to viruses.
A hardware wallet does offer a drawback in convenience, as it needs to be connected and disconnected each time a transaction is enacted.
A crypto hot wallet on the other hand, is typically installed on a web browser or desktop. As such, it’s at risk to the attacks of hackers and viruses.
However, as it’s always connected to the Internet, its accessibility and ease-of-use are greater than a crypto hardware wallet.
What are the different cold storage crypto hardware wallet brands?
Ledger is a crypto hardware wallet brand that’s been in the business since 2014 and has made a solid name for itself.
Its founders have experience in the complementary backgrounds of blockchain technology, security and business.
Trezor, another well-known hardware wallet company, was founded back in 2013 and is owned by a company called Satoshi Labs. They make wallets that are widely utilized and generally well-liked within the crypto space.
Other popular or on-the-rise wallets include the BitBox02, the SecuX STONE and the KeepKey.
There are many other brands and models of crypto physical wallets not mentioned here.
How much does a cold storage crypto wallet cost?
Prices for a crypto hard wallet vary from brand to brand and model to model. However, typically the prices range from about $80 to $250.
Prices often skew higher when the wallet is packaged with seed storage devices and other products.
What if I lose my crypto physical wallet?
Losing your crypto physical wallet doesn’t mean you’ve lost your crypto.
When you set up the wallet to begin with, you’re given a recovery phrase. As long as you have that recovery phrase accessible, you can enter it into a new wallet and retrieve your coins.
Can I just use a crypto hot wallet?
Active crypto traders and others who need constant access to their crypto often find that using a crypto hot wallet is more convenient for their day-to-day needs.
However, a hot wallet is connected to the internet at all times and is vulnerable to hackers and viruses.
A crypto hardware wallet, though not 100% safe, provides numerous safety aspects a hot wallet simply can’t.
Can I leave my crypto on Coinbase, Gemini or another exchange?
Owning cryptocurrencies is all about owning the private keys to your crypto. If your crypto is on an exchange, then the private keys are in the hands of the exchange.
This means that they could be lost or stolen in a hack and you may not get them back.
Learning to properly buy, store and protect your crypto is strongly advised.
Final Thoughts
As you advance in your crypto journey, grow your portfolio and become more familiar with crypto security, a crypto physical wallet will likely become an item of necessity.
Many of the wallets today, particularly from bands such as Trezor and Ledger, have had years to refine their products to new standards of excellence in security.
No matter how you decide to store your crypto, keep the safety and security of your assets as a top priority in your digital currency journey.
Disclaimer: The above is the writer’s opinion and should not be considered investment advice. Readers should do their own research and/or consult a financial advisor. Any actions taken based on the information above is at the reader’s own risk.