12 Best Cold Wallets for Any Budget

As a seasoned cryptocurrency enthusiast and investor with a few battle scars from past online wallet hacks, I can confidently vouch for the importance of cold storage wallets in protecting your digital assets. After years of learning the hard way about the risks of hot wallets, I’ve come to appreciate the unmatched security that cold wallets offer.

Due to decreasing trust in digital wallets and trading platforms, there’s a growing preference for cold wallets. The recent failure of FTX serves as a stark reminder of the risks associated with online storage, suggesting that many investors could have minimized their losses by opting for hardware wallets to secure their cryptocurrencies instead.

As an analyst, I can assert that while there are multiple storage options in the cryptocurrency realm, cold wallets stand out as the most secure choice for safeguarding your digital assets. They come equipped with a range of sophisticated features designed to cater to diverse requirements and financial circumstances.

In essence, this article delves into the top 12 cold wallets currently available, considering their specific types, Evaluation Assurance Level (EAL) ratings, pricing, and other key aspects that significantly affect your experience with them.

The Best Cold Wallets for High Security and Ease of Use

1. Tangem – Best Cold Wallet Overall

Type of cold wallet: Hardware wallet;
EAL rating: EAL6+;
Type: Non-custodial wallet;
Supported Coins: 6,000+ across 60+ blockchain networks;
Price: $54.90 for the plastic card, $160 for the zirconia ceramic ring;

Launched in 2021, Tangem stands out as an exceptionally innovative offline wallet that boasts an unblemished security track record, having served over 1.6 million devices without a single reported breach.

This device boasts a robust backup system for secure key transfer between cards, utilizing access codes and biometric identification for enhanced protection. Furthermore, it has an IP68 rating, ensuring it’s protected against dust, water, electromagnetic pulses (EMPs), electrostatic discharge (ESD), and even X-rays.

When considering user-friendliness, this wallet can quickly link up with the Tangem app using Near Field Communication (NFC) technology, offering hassle-free administration.

Pros of Tangem

Tangem Express – Swap thousands of tokens securely through third-party exchanges directly in the app.
Affordable – Great security features at a competitive price.
Seedless Option – You can set up a wallet with or without a seed phrase.
Mobile-Friendly – Easily manage your crypto on your phone with NFC.

Cons of Tangem

Limited Asset Support – Supports many cryptocurrencies, but new ones might take time to add.
No Desktop Support – Doesn’t work with desktop PCs, limiting use for laptop users.

2. Trezor Safe 5 – Best for Its User-Friendliness

Type of cold wallet: Hardware wallet;
EAL rating: EAL6+ security certification;
Type: Non-custodial wallet;
Supported Coins: 7,000+;
Price: $169;

Introduced on June 14, 2024, the Trezor Safe 5 is Trezor’s cutting-edge hardware wallet boasting a vivid 1.54-inch Gorilla Glass 3 color touchscreen. Key features encompass a non-disclosure agreement (NDA) free EAL 6+ Secure Element chip for secure key management, a SHAMIR (SLIP39) backup featuring a 20-word recovery phrase, and an optional PIN protection with microSD encryption as an additional security measure.

Apart from its enhanced security features, the Trezor Suite application simplifies management and improves usability. Its robust construction, tactile responses, and user-friendly layout contribute to its ease of use and durability.

Pros of Trezor Safe 5

User-friendly navigation – The intuitive interface and color touchscreen facilitate easy navigation and transaction confirmation.
Open-source software – Allows for community contributions and independent security audits, enhancing the device’s overall security.
Advanced security features – Includes options like a microSD card for encryption and a PIN for enhanced device security.

Cons of Trezor Safe 5

Higher price point – The cost may be high for budget-conscious users, especially compared to simpler models.

3. NGRAVE ZERO – Best Cold Storage Wallet for the Highest Security Certification

Type of cold wallet: Hardware wallet;
EAL rating: EAL7 certification;
Type: Non-custodial wallet;
Supported coins: 3,500+ assets along with NFTs;
Price: $398;

The NGRAVE ZERO is an advanced offline cold storage wallet, setting unprecedented security standards in the cryptocurrency wallet market. It achieves this by being completely disconnected from the internet and keeping private keys away from any online or USB threats. All communication occurs exclusively through QR codes using the NGRAVE Liquid app, ensuring that private keys remain protected and secure at all times.

Notable aspects encompass a user-friendly 4-inch touchscreen, reinforced by biometric authentication for heightened security. Additionally, it boasts a robust 1200 mAh battery that guarantees extended usage. Furthermore, its design, resembling a smartphone, is not only sleek but also waterproof and dust-resistant, enhancing its durability and longevity.

Pros of NGRAVE ZERO

Fully Offline Operation – Operates entirely offline using QR code transactions, ensuring that the private key remains isolated from network-based attacks.
Sleek and Modern Design – Equipped with a touchscreen, built-in camera, and fingerprint scanner, combining high functionality with user-friendly features.
Durable and Secure – The water and dust-resistant build, along with the 1200 mAh battery, ensures long-lasting use and physical protection.

Cons of NGRAVE ZERO

Premium Pricing – Positioned at a higher price point than many basic hardware wallets.
QR Code Dependence – Reliance on QR code transactions may not appeal to users who prefer more traditional or faster transaction methods.

4. ELLIPAL Titan 2.0 – Best for Its 100% Air-Gapped Technology

Type of cold wallet: Hardware wallet;
EAL rating: EAL5+;
Type: Non-custodial wallet;
Supported coins: 10,000+ crypto assets;
Price: $169;

Introduced on November 7, 2023, the ELLIPAL Titan 2.0 has emerged as a preferred choice for cryptocurrency users thanks to its 4-inch color touchscreen, anti-tampering, and offline storage technology (air-gapped). This setup guarantees secure offline storage and safeguards your private keys from online threats.

The exceptional feature of this mobile app is its integrated asset exchange and access to Decentralized Applications (DApps). This is made possible through the ELLIPAL mobile app, QR code, and Changelly support which facilitates fiat transactions and swaps. Moreover, the app provides unlimited storage for managing multiple wallets effortlessly. It also offers staking tools with Annual Percentage Yields (APY) reaching up to 10%, enabling users to earn passive income.

Pros of Ellipal Titan 2.0

Robust Security – Advanced technology safeguards assets against online threats.
Durable Build – Metal-sealed casing and anti-tamper features ensure protection against physical attacks.
Wide Compatibility – Supports many cryptocurrencies and integrates with Changelly for fiat transactions.
Decentralized Application – Seamless integration with the ELLIPAL mobile app provides easy access to DApps.

Cons of Ellipal Titan 2.0

Limited Multisig Support – Lacks support for Multisig wallets, potentially limiting security options.
Closed Source Firmware – Firmware not publicly available, raising concerns for users valuing open-source transparency.
QR Code Reliance – Transactions depend on QR codes, which may not appeal to users who prefer traditional input methods.

5. Ledger Stax – Best for Its Advanced Features

Type of cold wallet: Hardware wallet;
EAL rating: EAL6+;
Type: Non-custodial wallet;
Supported cryptos: 5,000+ digital assets;
Price: $399;

The latest offering from Ledger, known for its cryptocurrency security solutions, is the Stax cold storage wallet. This innovative device boasts a blend of style, user-friendliness, and robust security, making it an ideal pick for those desiring both stylish aesthetics and functional performance in their crypto storage solutions.

As a crypto investor, I appreciate the convenience and security of a wallet that offers customizable protection features. For instance, being able to personalize my lock screen with Non-Fungible Tokens (NFTs), utilizing a 24-word recovery phrase, and setting up PIN protection ensures peace of mind while managing my investments on the go. Additionally, the Bluetooth and Near Field Communication (NFC) connectivity seamlessly links to the Ledger Live app, enabling me to effortlessly manage multiple accounts from just one device.

Pros of Ledger Stax

Ledger Live Connectivity – Seamlessly connects with the Ledger Live mobile app for additional features.
High-Resolution Touchscreen – The large touchscreen makes navigation easy and intuitive.
Premium Design – Sleek, stylish design that combines aesthetics with functionality.
Wide Asset Support – Supports many popular cryptocurrencies for diverse portfolio management.

Cons of Ledger Stax

High Price – At $399, it’s the most expensive model compared to other Ledger wallets.
Screen Type – Uses an E-Ink screen instead of the OLED screens found on other Ledger wallets, which may affect the display experience.

6. BitBox02 (Multi Edition) – Best Cold Storage Wallet for Its Efficient Crypto Management

Type of Cold Wallet: Hardware wallet
EAL Rating: Not specified;
Type: Non-custodial wallet;
Supported coins: 1500+ coins and tokens;
Price: $149;

The BitBox02 device, introduced by the Swiss company Shift Crypto in 2020, is crafted for safe and streamlined management of digital currencies. This tool comes in two options:

This is a versatile digital wallet, suitable for both mobile and desktop devices. It boasts a user-friendly design, complete with an OLED screen, touch sliders, and USB-C connectivity, making it convenient to use across various devices. Moreover, it offers superior security with FIDO U2F authentication and is compatible with DeFi applications. Lastly, the microSD card backup feature ensures a hassle-free recovery process if the device is lost or damaged.

Pros of BitBox02

Top-Tier Security – Equipped with a secure chip and open-source firmware, providing excellent protection for digital assets.
Desktop and Mobile Compatibility – Works with both desktop and Android mobile apps, offering flexible access for users.
DeFi Support – Compatible with decentralized finance (DeFi) applications, expanding its functionality.
User-Friendly Interface—The intuitive design, with touch sliders and an OLED screen, makes it easy for both beginners and advanced users to navigate.

Cons of BitBox02

Limited Asset Support – Supports fewer digital assets than some competitors.
No iOS Mobile Device – Currently, only macOS devices.
Limited Software Features – The accompanying app offers fewer features than other wallets.

7. Cypherock X1 – Best Crypto Cold Storage Wallet for Seedless Recovery

Type of cold wallet: Hardware wallet;
EAL rating: EAL6+;
Type: Non-custodial wallet;
Supported coins: 9,000 cryptocurrencies and NFTs;
Price: $199;

2022 saw the introduction of the Cypherock X1, a game-changer in crypto storage. Unlike conventional methods, it bypasses the requirement for traditional seed phrase backups. Instead, it employs Shamir’s Secret Sharing to fragment private keys across four physical cards and the X1 Vault. This setup offers increased security. In case of recovery or transactions, you only need any two out of the available five components, thereby minimizing the potential for a single point of failure.

Without a backup of your seed phrase and boasting advanced security rated EAL6+, this wallet offers strong protection against both cyber and physical threats. Its portable design includes NFC and USB-C compatibility, allowing you to manage it securely whenever and wherever you are.

Furthermore, it is compatible with Cysync, a versatile cross-platform app, offering simple and adaptable asset management capabilities.

Pros of Cypherock X1

Seedless Recovery System – Eliminates the risk associated with traditional recovery phrases by using key-sharing technology.
EAL6+ Security Rating – Offers advanced protection for both digital and physical threats.
Multi-Platform Compatibility – The Cysync app works with Windows, MacOS, and Linux, providing flexible access and management.

Cons of Cypherock X1

Higher Complexity – The five-part wallet system may be more complex for beginners than standard hardware wallets.
Limited Display Size – The 0.96-inch screen is smaller than that of other hardware wallets with larger, more advanced displays.

5 Best Cold Wallets Under $100

1. Trezor Safe 3 – Best Cold Storage Wallet Under $100

Type of Cold Wallet: Hardware wallet;
EAL Rating: EAL6+;
Type: Non-custodial wallet;
Supported assets: 1,000 coins and tokens;
Price: $79;

If the Trezor Safe 5 is too expensive for you, the Trezor Safe 3 is a fantastic choice for both beginners and seasoned users. It boasts advanced security features such as CoinJoin for enhanced transaction privacy, Shamir backup for extra recovery options, and a secure element chip, making it a cold wallet that delivers all the essentials in a user-friendly package.

This wallet boasts a simple, single-colored screen interface that’s intuitive to use, complemented by tangible buttons for effortless navigation. Moreover, it provides state-of-the-art security measures like CoinJoin and Shamir backup, enhancing privacy and offering additional recovery options.

Pros of Trezor Safe 3

Versatile Asset Support – Compatible with various cryptocurrencies, providing flexibility for various users.
Enhanced Security – Features a secure element chip and offline key storage to protect against unauthorized access.
User-Friendly Design – The physical buttons and simple display facilitate easy navigation and management of assets.

Cons of Trezor Safe 3

Lacks Touchscreen – The absence of a touchscreen may deter users who prefer more modern and intuitive interfaces found in higher-end models.
Limited Advanced Features – Compared to higher-priced models, it may lack some advanced options available in more premium wallets.

2. Ledger Nano S Plus – Best Affordable Cryptocurrency Wallet for Beginners

Type of Cold Wallet: Hardware wallet;
EAL Rating: EAL5+;
Type: Non-custodial wallet;
Supported assets: 5,500+ coins and tokens;
Price: $87;

The Ledger Nano S Plus is a small, yet powerful, hardware wallet that ensures safe storage. It boasts a highly secure CC EAL5+ certified chip and a user-friendly 128×64 pixel screen for seamless navigation.

Additionally, the cold storage device offers extensive compatibility with various assets, features a secure chip for enhanced protection, and boasts an intuitive screen that simplifies asset management, ensuring clarity and convenience in usage.

Pros of Ledger Nano S Plus

Extensive Cryptocurrency Support – Compatible with over 5,500 coins and tokens.
Enhanced Security – The CC EAL5+ certified secure element chip ensures private keys are stored offline, protecting against hacking.
Improved App Storage – It can hold up to 100 apps, making it suitable for users managing a broad range of cryptocurrencies.

Cons of Ledger Nano S Plus

Limited Advanced Features – Compared to higher-end models like the Ledger Nano X, it may lack some of the advanced functionalities.
Basic Display – The 128×64 pixel display, while functional, may feel limited compared to larger, more advanced screens found in other models.

3. SafePal S1 – Best Affordable 100% Air-Gapped Cold Crypto Wallet

Type of Cold Wallet: Hardware wallet;
EAL Rating: EAL5+;
Type: Non-custodial wallet;
Supported digital assets: Most popular across more than 100 blockchains;
Price: $49.99

Introduced in 2018 by SafePal, the SafePal S1 is a highly secure cold storage wallet renowned for its strong protective measures, even drawing investment from Binance. Created by Veronica Wong and her team, it empowers users to handle their digital assets safely by using complete offline signing for transactions, thereby verifying them without requiring Bluetooth, Wi-Fi, or USB connections.

For heightened protection, you’ll find elements like offline security, QR code reading, a secure chip, and a unique BOLOS operating system that provide additional layers of sophisticated protective features.

The wallet offers a user-friendly interface with a PIN combination and a clear OLED screen for smooth navigation and transaction confirmation.

Pros of SafePal S1

Affordable – At $49.99, it offers a budget-friendly entry point for secure cold storage.
Comprehensive Asset Support: Supports over 100 blockchains.
Air-Gapped Transactions – 100% air-gapped via QR code scanning.
Mobile-Friendly – Comes with a companion app on Android and iOS, enhancing accessibility and convenience.

Cons of SafePal S1

Limited Battery Life – Battery performance may not be sufficient for extended usage without recharging.
Limited Hardware Integration – Primarily integrated with the SafePal hot wallet, which could restrict functionality for users seeking broader integration with other platforms.

4. Blockstream Jade – Best Affordable Cold Storage Crypto Wallet for Bitcoin and Liquid Network Users

Type of Cold Wallet: Hardware wallet;
EAL Rating: Not specified;
Type: Non-custodial wallet;
Supported coins: Bitcoin and Liquid Network;
Price: $64.99;

2021 saw the introduction of Blockstream Jade, a wallet developed by Blockstream. This cold storage wallet is budget-friendly and space-efficient, specifically tailored for users who predominantly use Bitcoin and the Liquid Network.

This cold wallet offers both safety and usability, boasting a 29mm IPS LCD screen and offline storage for secure crypto handling. Despite being only compatible with Bitcoin and Liquid Network assets, it incorporates Multisig Shield technology and security elements to strengthen asset protection, making it an attractive option for Bitcoin purists seeking practical solutions.

This wallet boasts advanced security measures such as offline key storage, secure components, and Multisig Shield technology for robust asset safeguarding. Transactions can be executed using air-gapped methods via an integrated camera to read QR codes, ensuring complete offline and secure verification. It operates on open-source software, fostering transparency and collaborative advancements from the community.

Pros of Blockstream Jade

Security Focus – Prioritizes asset protection with Multisig Shield, offline key storage, and air-gapped transactions.
Compact and Portable – Its small size and lightweight design make it convenient for carrying and everyday use.
Affordable – One of the more budget-friendly cold wallets at just $64.99.

Cons of Blockstream Jade

Limited Compatibility – Only supports Bitcoin and Liquid Network assets.
Small Screen Size – The 29 mm display may feel limited for users accustomed to larger screens.

5. KeepKey – Best for Integrated Crypto Trading

Type of Cold Wallet: Hardware wallet;
EAL Rating: Not specified;
Type: Non-custodial wallet;
Supported coins: 7,000 assets across 350 chains;
Price: $78

As a researcher, I’d express it like this: I’ve come across KeepKey, a cold storage wallet designed by ShapeShift. This device offers a blend of cutting-edge functionalities and strong security measures to safeguard my digital possessions.

Notable aspects encompass seamless trading functionality that is integrated with ShapeShift, enabling users to trade and acquire assets instantly from the device for streamlined asset management. It boasts strong security measures, reinforced by multiple defense mechanisms such as a PIN system and a 12-word backup phrase, ensuring funds are guarded against potential risks.

Pros of KeepKey

User-Friendly Interface – Features a sleek OLED display that simplifies navigation and interaction with the wallet.
Extensive Cryptocurrency Support – Supports a broad range of cryptocurrencies.
Comprehensive Security – Offers strong security measures that protect funds and private information.
Attractive Pricing – Priced competitively, providing significant value for the features and security it offers.

Cons of KeepKey

No Bluetooth Support – Lacks Bluetooth connectivity, limiting some functionalities that require wireless interaction.
NFT Support Limitations – This isn’t an NFT wallet, which may be a drawback for users interested in digital collectibles.
Additional Software Requirement – Requires downloading and installing third-party software like Electrum or MultiBit for certain functionalities, unlike wallets with built-in web features.

Other Types of Cold Storage Crypto Wallets

As you can see above, in our best cold storage wallets, we have only introduced hardware wallets because they are currently the most used and secure. However, it’s good to know that there are also other cold storage wallets, such as:

Paper Wallets – Originating back in 2013-2014, paper wallets are simply printed documents containing your private keys, often in QR codes. While they keep your private keys offline, they’re vulnerable to physical damage or loss. Transferring funds from a paper wallet can be tricky and may involve exposing your private keys to online risks. Also, you have to be careful when looking for a reliable crypto paper wallet generator so that you won’t get your funds stolen.
Sound Wallets – Similar to paper wallets, sound wallets store private keys but in audio file format. While more robust than paper, they’re still susceptible to physical damage and can be challenging to manage due to the need for specific tools.
Deep Cold Storage Wallets – This is the most extreme and most basic form of cold storage, involving methods that are highly inconvenient and time-consuming to access. It could include burying a hardware wallet underground or using a third-party service that requires multiple steps to retrieve your keys.

Key Features to Look for in a Cold Storage Wallet

1. Security Features

Two-Factor Authentication (2FA) – Requires a second verification step (like an app) to access your wallet, providing extra security against unauthorized access.
Encryption – Ensure that the wallet uses strong encryption to protect your private keys and transaction data from cyber threats.
Seed Phrase Backup – This is a backup made up of 12 or 24 words that allows you to recover your wallet if the device is lost. Keep it safe and offline.

2. User Experience

Ease of Use – Look for wallets with simple interfaces. Options like Ledger Stax are beginner-friendly.
Compatibility – Choose wallets that work on both mobile and desktop.
Software Integration – Ensure the wallet connects well with apps like Ledger Live for easy asset and transaction management.

3. Supported Cryptocurrencies

Wide Range of Assets – Look for wallets that support many cryptocurrencies.
Native Support – Some wallets, like Trezor, offer direct support for major assets, while others may require extra apps for certain coins.

Common Mistakes to Avoid

Losing Your Seed Phrase/Private Keys – These are crucial for accessing your funds. Losing them means losing access forever. Store them securely and offline.
Improper Storage – Keep your hardware wallet safe to avoid damage or theft. Also, backup your seed phrase in a separate, secure location.
Using Untrusted Devices/Software – Only connect your wallet to trusted devices and use official apps. Avoid third-party software, as cold wallets eliminate the risk of malware.

FAQ

What is a Crypto Cold Wallet?

An offline crypto wallet, often referred to as a cold storage wallet, ensures your digital currency is securely kept away from online hazards such as malware. Unlike hot wallets that continuously connect to the internet, cold wallets function independently, which makes them one of the most secure methods for keeping cryptocurrency.

Instead of keeping your cryptocurrency themselves, cold wallets securely store the essential private keys that grant you access to your digital assets. These wallets are particularly suitable for long-term storage of valuable assets because they offer enhanced security features.

Why Cold Wallets?

Cold storage wallets are perfect for safely storing valuable cryptocurrencies over a prolonged period because they have robust security mechanisms and attributes that outshine others. These wallets keep your keys away from the internet, thereby protecting you against online hazards and guaranteeing your assets won’t be subject to unauthorized access.

What is the Best Crypto Cold Wallet?

Based on the latest Forbes Advisor rankings from October 2024, three cold wallets have emerged as top recommendations. Taking the lead is Ledger Wallets with an impressive score of 4.9 out of 5. Ellipal follows closely behind with a robust 4.8 rating. SafePal rounds out the top three with a commendable 4.5 rating. These rankings underscore their dependability and strong attributes, making them preferred options for safeguarding digital assets.

How to Sell Crypto from a Cold Wallet?

To conduct transactions with cryptocurrencies stored in an offline or cold wallet, it’s necessary to link that wallet to a digital currency exchange. After the connection is established, you can initiate either buy or sell orders for cryptocurrencies. The exchange will take care of processing the transaction, moving the cryptocurrency into or out of your wallet based on your instructions.

How Does a Cold Wallet Differ from a Hot Wallet?

Hot wallets and cold wallets vary mainly in their level of connection. A hot wallet, also known as an online wallet, can be accessed through computers or smartphones, making online transactions convenient. On the other hand, a cold wallet relies on hardware storage devices or alternative methods to store data offline for increased security.

Conclusion

Cold wallet storage is crucial for anyone involved in cryptocurrency. It provides a secure method to protect digital assets. By keeping private keys offline, cold wallets guard against hacking, malware, and phishing attacks, ensuring your cryptocurrency remains safe from unauthorized access.

Beyond ensuring strong security, cold wallets also offer the comfort of long-term storage, which makes them perfect for both investors and traders. With numerous choices at hand, there’s a cold wallet suited for every financial plan, enabling you to handle your crypto safety efficiently. Cold wallets provide a dependable method for safeguarding your digital assets.

2024-10-21 11:30