Best Bitcoin Cold Wallets for Secure Storage

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The security of your cryptocurrency holdings is a top priority for Bitcoin investors. In this context, cold wallets, also known as cold storage, have emerged as a trusted solution for offline and secure Bitcoin storage.

As interest in this security method grows, new cold wallets continue to appear as viable alternatives for reliably storing Bitcoin offline.

This guide highlights the best available options, including some you may not yet be familiar with. We will also explain how these wallets work and outline the crucial factors to consider when choosing a cold wallet.

Whether you are an experienced investor or a curious beginner, this article will provide valuable insights.

What Is a Cold Wallet?

Cold wallets, or cold storage, are Bitcoin wallets that generate and store keys on devices never connected to the internet or blockchain.

Bitcoin cold wallets are a type of offline storage. In contrast to hot wallets, which remain constantly connected to the internet, cold wallets do not maintain an internet connection and are widely considered a much safer way to store bitcoins.

The reason for this is that bitcoins held in an online wallet (hot wallet) are vulnerable to a variety of cyber attacks, such as phishing, hacking, and other exploits, which can lead to loss of funds. With cold wallets, the seed phrases are kept offline, making them far less susceptible to these types of attacks.

Different Types of Cold Wallets

Cold wallets can be physical devices, like specialized hardware or USB drives, or even printed paper containing private key information.

Paper Wallets

Bitcoin paper wallets are literally paper printouts that contain your Bitcoin wallet's public and private addresses, represented as QR codes.

These wallets are a form of offline storage and offer a secure way to hold your cryptocurrency, as the QR codes can be scanned when needed to execute transactions.

Metal Wallets

Metal wallets are a highly durable form of cryptocurrency storage, similar to paper wallets. However, instead of being printed on paper, the public and private addresses are engraved onto steel plates.

This resilient material offers protection against physical damage, such as fires or floods, providing an additional layer of security for your bitcoins.

Hardware Wallets

Hardware wallets are physical devices specifically engineered to store digital currencies securely.

These wallets generate private keys in an offline environment, ensuring they never come into contact with an internet-connected computer. This offers an extra layer of protection against cyber attacks, as transactions can only be signed within the device itself, keeping the private keys safe and out of reach from hackers.

When Should You Get a Cold Wallet?

The moment you decide to accumulate Bitcoin for the long term, it's important to consider using a cold wallet.

This way, your money will be more secure because it will be under your own custody.

What Are the Best Cold Wallets on the Market?

Some of the best cold wallets available today include:

The cold wallet market has seen significant growth in recent years, driven by increasing demand not only from individuals but also from institutions that need to store large volumes of Bitcoin securely.

Security concerns around storing and holding Bitcoin have intensified due to major events, such as the collapse of the FTX exchange in 2022. In that case, many investors who left their coins on the exchange had their balances frozen, suffering considerable financial losses.

As a consequence, more people are choosing to take responsibility for the custody of their own coins, seeking full control and sovereignty over their money. This movement has encouraged companies to develop new solutions and improve the usability, security, and integration of cold wallets with other financial technologies.

As market demand grows, new cold wallets continue to emerge. Below, we provide detailed information on each of the cold wallets mentioned above, so you can choose the best option to store your Bitcoin securely.

Jade Wallet

This is a hardware wallet created by Blockstream, the same company that developed the Green hot wallet.

Blockstream is one of the most famous and reputable companies in the Bitcoin ecosystem, with initiatives on the second layer using the Lightning Network, and it also created the Liquid Network. Liquid is a Bitcoin blockchain sidechain that enables the issuance of BTC-backed tokens, along with creating various features related to privacy, liquidity, and scalability.

Key Features of the Jade Wallet

The Jade is the first hardware wallet built to integrate with Liquid. This means you can use it not only to store Bitcoin but also other BTC-backed tokens like L-BTC and even USDT.

Another feature that sets it apart from other wallets is that the Jade comes with an integrated camera, allowing you to scan QR codes conveniently.

Furthermore, the Jade Wallet offers advanced features like support for multisignature (multisig) technology, which adds extra layers of security by requiring multiple signatures to authorize transactions. The wallet is also non-custodial, meaning you maintain total control of your private keys and, consequently, your funds.

The Jade wallet uses robust encryption and advanced security practices to protect private keys and transactions. However, it is important to note that, as with any Bitcoin wallet, it is essential to take additional precautions, such as making proper backups of private keys and using strong passwords to protect access to the wallet.

Price and Availability

If you choose to purchase the Jade cold wallet through the official Blockstream website, the current price is $65. A simulated delivery cost estimates a fee of around $14. Therefore, the total amount payable would be approximately $80.

Considering a dollar-to-local-currency conversion, you should also be aware of potential import taxes, which can sometimes be significant.

👉 Compare prices and explore secure wallet options

Coldcard MK4

This is a Bitcoin-only cold wallet, manufactured in Canada by Coinkite, and it comes with some very interesting features!

The Coldcard MK4 boasts advanced security features, including the ability to create wallets with multiple signatures, which require several private keys to authorize transactions.

One of the main differences between the Coldcard and other hardware wallets is the presence of a numeric keypad built into the device itself. This makes typing numbers much easier, as other options typically provide only two buttons, requiring users to select options using just them.

The Coldcard MK4 is also known for its compatibility with different Bitcoin wallets and services. It uses open-source code and is designed to be used with the Electrum wallet, but it is also compatible with others like Wasabi, Bitcoin Core, Specter, and any that support creating transactions using external private keys.

Main Advantages of the Coldcard

The Coldcard is especially focused on physical security, and one of its coolest features is the "Duress PIN." This feature allows the user to create a decoy wallet. This means that if someone enters this security PIN instead of the true PIN, the wallet will work perfectly, but it will show the balance of a different wallet that is not your main one. This way, in the event of a physical attack, intruders will only have access to the bitcoins you are willing to lose, which were placed in that decoy wallet.

It also allows for the creation of a Brick Me PIN, or self-destruct PIN. If you or someone else types this PIN, the wallet will become completely useless, and it will no longer be possible to perform transactions.

This solution aims to deal with physical attacks, known as "$5 wrench attacks," where someone discovers you hold a large amount of bitcoin and physically attacks or threatens you to obtain your private keys.

Anti-Phishing Phrase

Another interesting characteristic of the Coldcard is the Anti-phishing phrase. The PIN to access the wallet consists of 8 digits, divided into two parts, for example, 1234-5678.

The Anti-phishing functionality works like this: when you type the first part of your PIN (1234), two different words are displayed on the screen. Each Coldcard will show unique words, not repeated by other Coldcards.

This way, if the words that appear are indeed the ones corresponding to your wallet, you can type the rest of the PIN (5678) and use the wallet normally. This prevents someone from replacing your Coldcard with another, avoiding a type of attack known as a "Trojan Horse."

Price and Availability

The Coldcard MK4 has an approximate price of $150. It can be difficult to find in some regions, but you can purchase it directly from the Coinkite store website, which ships internationally.

As it is an international purchase, it's important to consider potential foreign transaction fees, shipping costs, and the possibility of import duties levied by your country's customs authority.

BitBox02

The BitBox02 is produced by a Swiss company, ShiftCrypto, and comes in two versions:

  1. One that supports Bitcoin and many other cryptocurrencies.
  2. A version that supports only Bitcoin, meaning it is bitcoin-only.

According to the company, the fact that the wallet is bitcoin-only ends up making the wallet more secure because it has less code, which reduces the possibilities for attacks.

Another interesting point about the BitBox is that it allows you to connect your own node to the wallet's desktop application. Furthermore, you can choose which coins to spend and perform more private transactions with Tor integration.

The BitBox is designed to provide a high level of security for users who want to store their cryptocurrencies safely. It is a compact and portable physical device that stores private keys offline, isolated from potential online threats.

Key Features of the BitBox

The BitBox wallet uses an integrated secure chip and advanced encryption features to protect private keys. It has a friendly and intuitive interface, with physical buttons and a screen to facilitate operation and transaction verification.

Additionally, it comes with an integrated USB-C port on the device, meaning you don't need additional cables to connect it to your notebook.

However, the most distinguishing aspect of this wallet is that you don't necessarily need to write down the seed, as your backup keys are stored on a mini SD card that comes included with the wallet packaging, and you can purchase other cards and make multiple copies.

This is a different approach to storing keys, as many people criticize the fact that, despite Bitcoin being digital, they still need to write down keys on paper. Therefore, this is an alternative solution.

For maximum security, it is still advisable to also write down your Bitcoin seed phrase on paper and store it securely.

Price and Availability

You can purchase this cold wallet directly from the company's website for 126 euros. It's important to note that the company's shipping policies may vary by region, so check availability for your location before purchasing.

Bitkey

The Bitkey is a Bitcoin hardware wallet from Block, the company of Jack Dorsey, creator of Twitter.

The wallet has not been officially launched yet and will go through a beta testing phase. During the beta test, Bitkey's functionality will be limited to basic operations, such as sending and receiving bitcoins, plus limited payments.

The wallet will operate in partnership with Coinbase and CashApp, allowing users to automatically transfer bitcoins from both platforms to Bitkey.

Soon, Bitkey plans to establish partnerships with more brokers so that users can buy bitcoins directly through the app. As mentioned earlier, Coinbase, the leading cryptocurrency exchange in the United States, announced an international partnership with Bitkey, which will allow users to convert bitcoins into local currencies.

Additionally, Bitkey will have functions like sending, receiving, multisig support, a tool for wallet recovery in case of loss, and a smartphone app. It will not have Lightning Network support at launch.

Passport

Manufactured by Foundation Devices Inc., the Passport Batch 2 is a hardware wallet that keeps your Bitcoin private keys offline, protecting them from potential hacker attacks.

To use this wallet, you need to download a mobile app, such as Envoy, developed by Foundation itself. This app acts as a guide for setting up the device and ensures secure firmware updates for the Passport.

The purpose of the app is to make the "air gapped" security model more accessible. Communication between the Passport and the Envoy app occurs via QR codes.

It is important to emphasize that even with the Envoy app acting as an interface for the Passport, the private keys always remain secure on the hardware device.

The MicroSD card that comes with the wallet allows you to store an encrypted version of your private keys and also offers the possibility to securely update the Passport's firmware.

Key Features of the Passport

The Passport's wide display and intuitive menus provide an incredibly simple user experience. Unlike other wallets, you don't need to spend long periods scrolling through a tiny screen or entering a complicated password with just two buttons.

The Passport has no USB ports or wireless communication capability. Transactions are executed by reading a QR code. This prevents external intruders from being able to interact with the device.

Price and Availability

On the official Foundation website, the price of the Passport cold wallet is $199. Unfortunately, at this time, it may not be available through local retailers in all regions.

Krux

Krux is open-source firmware that allows anyone to build their own Bitcoin signing device using off-the-shelf parts.

Thus, it is designed to run on Kendryte K210 devices, such as the M5StickV and Maix Amigo, turning them into air-gapped devices that can sign transactions for multi-signature and/or single-signature wallets.

All operations on Krux are performed via QR codes. You can load your BIP-39 mnemonic, import a wallet descriptor, and sign transactions without ever needing to connect the device to your computer (except to update the firmware).

Krux reads QR codes with its camera and displays QR codes on its screen or prints them on paper via an optional thermal printer accessory.

Unlike a conventional cold wallet, Krux does not come with its own wallet software. Instead, you can use it in conjunction with wallet coordinators to manage your wallets and create transactions on your computer, without ever needing to share or grant access to your private keys.

This cold wallet was developed to be compatible with various wallet software providers and works with many popular software programs like Sparrow Wallet, Blue Wallet, and Electrum.

Key Features of Krux

Krux stands out for being open-source firmware, offering transparency and reliability.

Furthermore, security is a priority, as this cold wallet operates on airgapped devices and performs operations via QR codes, making it highly secure and accessible.

Price and Availability

Regarding cost and availability, it is important to note that since Krux is an open-source solution, you can build your own device using parts available on the market.

To build your own Krux device, you will need to acquire the necessary parts, assemble them, and then install the Krux firmware. The firmware itself is free and can be obtained through open-source resources. Be sure to follow the specific assembly and configuration instructions to ensure the safe and efficient operation of your Krux device.

Multicoin Cold Wallets

In addition to the wallets mentioned earlier, there are two well-known brands in the market that were among the first to appear:

Both are hardware wallets that support Bitcoin and other digital currencies.

Let's get to know a bit more about them!

Trezor

Trezor, from the Czech company SatoshiLabs, was the first hardware brand to emerge on the market in 2014.

It is known for offering a high level of security in storing digital currencies. Although it is possible to turn the Trezor wallet into a Bitcoin-only cold wallet by installing specific firmware, by default it is a multicoin wallet that supports other cryptocurrencies besides Bitcoin.

Key Features of Trezor

The Trezor T, which is the more expensive model, has a built-in touch screen that allows users to view and verify transaction details directly on the device before confirming them, which makes usage much easier.

Additionally, Trezor is an open-source wallet, meaning its software is auditable and transparent. This increases user trust, as experts can review the code to ensure its security.

Price and Availability

Trezor has a store on its website where you can purchase the cold wallets directly, with prices ranging from $69** for the entry-level model to **$219 for the brand's most advanced model with a touch screen.

However, they may not ship to all countries. Users often have the option to buy from authorized local resellers. Prices from resellers will vary depending on the model chosen and local market conditions.

Ledger

Ledger is a French company specialized in manufacturing hardware wallets for cryptocurrencies.

Founded in 2014, the company is known for its Ledger Nano S Plus and Ledger Nano X products. These compact devices allow users to store their private keys securely and offline.

The wallet supports various digital currencies and is known for its ease of use and intuitive interface, making it one of the most popular options on the market today.

Key Features of Ledger

Ledger has its own application called Ledger Live that can be installed on a PC, or on Android and iOS phones, allowing you to check your balances even without your device on hand.

Certainly, one of its biggest assets is its friendly and easy-to-use interface. Ledger offers an intuitive experience for the initial device setup, private key management, and executing transactions.

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Price and Availability

Ledger models range from $79 to $149 and can be purchased directly from the official Ledger website, which offers international shipping to many countries.

Remember that, as an international purchase, foreign transaction fees may apply if you use your credit card, in addition to shipping costs and the potential for import duties upon arrival in your country.

Frequently Asked Questions

What are the best cold wallets on the market?

Some of the best cold wallets available include models like Ledger Nano X, Trezor Model T, Jade Wallet, Coldcard MK4, Passport, and BitBox02. The best choice depends on your specific needs for security, compatibility, and budget.

Are cold wallets completely invulnerable to external attacks (hackers)?

While cold wallets are significantly more secure than hot wallets, no system is completely invulnerable to external attacks. However, they are far less susceptible to common online threats like remote hacking and phishing attempts. Their primary vulnerability lies in physical theft or coercion, which is why features like duress PINs are valuable.

What is the most secure wallet?

In terms of security, cold wallets like the Coldcard MK4, Jade Wallet, and other dedicated hardware devices are generally considered among the most secure and reliable options. Their air-gapped nature and focus on physical security make them superior for safeguarding large amounts of Bitcoin.

How do I choose a cold wallet?

When choosing a cold wallet, consider the following factors to ensure a choice suited to your needs: security features (like open-source code, PIN protection, seed backup options), compatibility with your preferred currencies and software, ease of use, the reputation of the brand, firmware update support, and of course, the price.

What is the difference between a cold wallet and a hot wallet?

Unlike hot wallets, which remain constantly connected to the internet, cold wallets do not maintain any online connection, making them a more secure option for storing bitcoins long-term. Hot wallets are better suited for small, frequent transactions, while cold wallets are designed for secure, offline storage.

How much does a cold wallet cost?

Cold wallets typically cost approximately between $50 and $300, depending on the model, brand, and functionality. It's important to note that the average price can vary based on the specific features and security level offered by each device.