15 Best Cold Wallets in 2024 – Safest Cold Wallets Compared

Many people consider cold wallets to be much safer for storing cryptocurrency than hot wallets. After all, they are disconnected from the internet most of the time, meaning they are impossible to hack if you keep them in a safe place. Unfortunately, not all of them are affordable, let alone their complex interface.

If you’re not sure which wallet to select, you’ve come to the right place. We review each best cold storage wallet for 2024 and describe safety features, supported coins, pricing, and more. Read on to decide which one suits you best.

Types of Cold Storage Wallets

Cryptocurrency storage can be broadly divided into custodial, where someone else holds your keys, and non-custodial, where you hold your own keys. Non-custodial options include paper wallets, software wallets, and hardware wallets, which are further classified as ‘hot’ (internet-connected) or ‘cold’ (offline).

Examples of non-custodial cold storage are holding keys on a USB device or written on paper, while leaving keys with a crypto exchange is a custodial cold storage method. The storage landscape continues to evolve, so staying up-to-date is important. However, the most important ones are:

The Best Cold Wallets to Buy in October 2024

A Detailed Review Of The Best Cold Storage Wallets

We’ll review the previously mentioned cold storage wallets by evaluating and ranking them based on several key factors like:

• Security features
• Ease of use
• Durability
• Backup and recovery options
• Cryptocurrency compatibility
• Associated fees
• Interest rates (if applicable)

Each wallet will be assessed on these criteria, allowing for a comprehensive comparison to help users make informed decisions based on their specific needs and preferences.

1. Cypherock X1 – The Best Cold Storage Wallet Overall

Cypherock X1 is the number 1 best cold wallet on our list for 2024. This unique hardware wallet uses Shamir Secret Sharing to protect private keys, meaning you can safely store – and recover – your crypto without writing 12 to 24 random words on a piece of paper. The crypto wallet uses four cards to store your digital assets and a mini device, called the vault, to do the computations. This way you can store each card in various geographic locations to ensure their safety. If someone steals a card or the vault, they can’t initiate transactions as there is a PIN lock on the device, which they must know to gain access.

To initiate transactions, download the Cypherock desktop app and connect it with the vault. Unlock your vault with the PIN and tap one of the X1 cards to confirm the transactions. If you lose the vault, you need to have two X1 cards to recover your wallet. Simply follow the instructions provided by Cypherock and you’ll regain access to your wallet. The vault device uses open-source software, while the X1 cards have EAL 6+ secure elements used for cryptocurrency storage.

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2. ELLIPAL Titan 2.0 – Premium Cold Storage Wallet

ELLIPAL Titan 2.0 is one of the best cold wallets on our list for 2024, which features a 4-inch metal device with a 1,400 mAh battery and only weighs 140g. It uses air-gapped technology for transaction verification, eliminating the need for wireless connections. With a 5M AF camera for QR code scanning, unlimited storage capacity, and support for over 52 blockchain networks and 10,000 cryptocurrencies, it offers a comprehensive solution for secure offline storage of various digital assets.

As part of any ELLIPAL wallet review, it’s worth mentioning that The ELLIPAL Titan 2.0 app has various features that allow users to engage with the blockchain economy. This includes integration with Changelly for buying and selling cryptocurrencies with fiat money. The app also supports staking across multiple coins, including Cardano, Cosmos, Polkadot, and Tezos, and you can also use it to connect to dApps, which need to go through MetaMask or WalletConnect.

3. Ledger Nano S Plus – Best Cold Crypto Wallet For Affordability

Ledger Nano S Plus is the second best cold wallet priced at $79 and offering features comparable to the Trezor Model One. It provides robust security through a 24-word backup passphrase and a required PIN for transaction authorization. If the PIN is lost, users can still access their wallet using the backup passphrase, ensuring a balance of security and accessibility.

If you lose, damage, or get stolen, you can recover your Ledger Nano S Plus remotely. It supports over 5,500 cryptocurrencies across multiple networks, including Bitcoin, Polkadot, Binance Smart Chain, XRP, and Ethereum. Additionally, this cold wallet supports Ledger Live, and you can also stake cryptocurrencies to earn passive rewards.

4. Trezor Model One – Best Crypto Hardware Wallet For Beginners With Over 1000 Cryptos Supported

Although Trezor Model One is a level-entry wallet, it offers high-level security features comparable to more advanced devices. It requires a PIN (4 to 50 digits) for transaction authorization, preventing remote access, and provides users with a 12- or 24-word backup passphrase during setup, ensuring robust protection for stored cryptocurrencies.

The Trezor Model One offers robust security features, including a backup passphrase for PIN recovery or device loss, and integrates with the versatile Trezor Suite for multi-platform cryptocurrency management. While it supports an extensive range of over 1000 cryptocurrencies, including major ones like Bitcoin, Ethereum, and XRP, its main limitation is the lack of staking functionality.

5. Trezor Model T – Best Cold Wallet For Crypto With In-Build Staking Tool

Trezor Model T is another top crypto cold storage wallet builds upon the Model One’s security features with enhanced usability, priced at $149. It features a touchscreen interface for easier transaction processing and USB-C connectivity and supports an additional 167 cryptocurrencies compared to its predecessor, making it a more versatile and user-friendly option for cryptocurrency storage and management.

Another interesting feature Model T has is an in-built staking tool, which supports some of the most prominent staking coins, such as Cardano and Tezos. However, Trezor is yet to support staking for Ethereum 2.0. Just like the Trezor One, the T Model allows users to buy and swap cryptocurrencies. Once again, these services are facilitated by third parties that typically charge high fees.

6. Ledger Stax – Best Crypto Cold Wallet With Bluetooth Support

Stax is also one of the best cold wallets by Ledger and comes with a price tag of $279. Compared to the Nano S that costs $79, this is considerably higher. Nevertheless, one of the main differences between the two is that the Ledger Stax supports Bluetooth, making it a lot more convenient to connect with the Ledger Live software.

The Ledger Stax also incorporates advanced features like wireless charging and a curved touchscreen for easier transaction verification, along with customizable lock screens and embedded magnets. Although these enhancements come at a $200 premium, they’ve contributed to the device’s popularity among both novice and experienced cryptocurrency users.

7. Blockstream Jade – Best Cold Storage Wallet For Bitcoin Users

The Blockstream Jade wallet, priced at $64.99, is a compact and affordable crypto cold storage solution for Bitcoin and Liquid Network users. It combines user-friendliness with robust security features, including offline key storage, a secure hardware element, and Multisig Shield technology. Its standout feature is the fully air-gapped transaction capability, utilizing QR codes for enhanced security without relying on USB or Bluetooth connections.

The open-source Blockstream Jade wallet, while limited to Bitcoin and Liquid Network assets, offers robust features when paired with Blockstream Green software. It supports Singlesig and Multisig transactions, fee control, Tor integration, and multiple wallet management. The wallet enhances security with unique measures like spoof wallets to deceive attackers and a self-destructing PIN, providing comprehensive protection against unauthorized access.

8. NGRAVE – Best Crypto Hardware Wallet With Over 3500 Supported Coins

The NGRAVE ZERO wallet, introduced in mid-2018, is a pioneering crypto cold storage wallet with top-tier security features. It boasts EAL7 certification, the highest security standard in its class, and operates entirely offline. The wallet communicates via QR codes scanned by the NGRAVE Liquid app, ensuring that all private key operations occur in a secure, isolated environment, eliminating vulnerabilities associated with USB or network connections.

The NGRAVE ZERO supports over 1,000 cryptocurrencies, including major coins and NFTs, and features a user-friendly 4-inch color touchscreen. It’s equipped with a 1200 mAh battery, built-in camera, and fingerprint scanner for enhanced security. The wallet’s design resembles a high-quality smartphone, offering durability with water and dust resistance.

9. BitBox02 – Best Cold Wallet From a Swiss Crypto Company

The BitBox02 is also one of the best crypto cold wallets by Shift Crypto, offering storage for Bitcoin, Ethereum, Litecoin, and ERC20 tokens at an affordable price of $163. It features a modern design with an OLED screen, touch sliders for easy navigation, and a USB-C connector for direct computer and smartphone connections.

The wallet offers a user-friendly setup across multiple operating systems, utilizing a microSD card for backup alongside the traditional seed phrase method. It enhances security through a secure chip, open-source framework, Tor support, and full-node connections. The device also functions as a FIDO U2F authenticator and offers broad compatibility via USB-C, making it versatile for use with various devices.

10. COLDCARD – Top Bitcoin Cold Wallet With Air-Gap Support

The COLDCARD wallet, designed exclusively for Bitcoin, is a unique option in the cold wallet market, known for its robust security features. The wallet is known for its air-gap support, allowing it to operate entirely offline, thus providing high protection against online threats.

The COLDCARD wallet streamlines backup with Micro-SD support and offers unique security features like Duress Pin and Brick Pin for secondary wallet access and device disabling, respectively. The Mk4 model includes a USB-C connector for improved device compatibility, while its clear plastic case enhances physical security by making tampering easily detectable.

11. Opendime – Best Crypto Cold Wallet For One-Time Use

The Opendime wallet, is another crypto cold storage wallet, known as the “Bitcoin Stick,” offering a unique approach and focusing solely on Bitcoin. This device is known for its simplicity and high security. That said, Opendime is small, portable, and boasts a user-friendly design. It’s a one-time-use wallet, allowing Bitcoin to be loaded once for off-chain spending. The latest v4 version improves its tamper-proof features.

The wallet allows private, anonymous, off-chain transactions similar to cash, reducing network load and enhancing privacy. Once its private keys are exposed, the device becomes unusable, emphasizing secure, single-use transactions. It exclusively supports Bitcoin, catering to users focused on this cryptocurrency.

12.  CoolWallet Pro – Best Cold Storage Wallet With Over 12,000 Supported Cryptocurrencies

CoolWallet Pro aims to provide the ideal blend of security and convenience. It comes with a EAL6+ Rated Secure Element Chip
for safeguarding stored sensitive data as well as a Advanced Cold Pressing Tech that is permanently inoperable when disassembled. The wallet also comes with a native mobile app for iOS and Android, enabling users to initiate transactions on the app before authorizing them on the physical device.

The CoolWallet Pro connects to its app via encrypted AES-256 Bluetooth, eliminating the need for a USB cable. It supports WalletConnect, enabling access to dApps like OpenSea and UniSwap. With compatibility across 27 blockchain networks and over 12,000 cryptocurrencies, including Bitcoin, Ethereum, and Solana, it also features a lightweight, credit card-like design that is waterproof and tamper-proof.

13. SafePal S1 – Best Cold Wallet For Crypto and Staking

SafePal S1 is one of the best cold storage wallets that offers robust security with air-gapped signing, allowing users to sign transactions without cables, Bluetooth, or WiFi. Transactions are initiated on the SafePal app or browser extension and completed by scanning a unique QR code with the device’s built-in camera.

The user can enter their PIN onto the SafePal S1 device to confirm the transaction. Another benefit of SafePal S1 is that it supports many cryptocurrencies. This covers various network standards, including Bitcoin, Ethereum Fantom, Optimism, Polkadot, Polygon, and Binance Smart Chain.

14. SecuX V20 – Best Cold Wallet With 300 Blockchains Compatibility

SecuX V20 is a perfect choice for diversified investors who need a cold wallet that stores a wide range of cryptocurrencies. Put simply, this wallet is compatible with 300 blockchain networks, including Bitcoin, Ethereum, Binance Smart Chain, Litecoin, Solana, Dash, XRP, and others.

The SecuX V20 features a large 2.8-inch touchscreen, making it easy to view portfolio balances and process transactions. Users enter transaction details on the SecuX V20 app or website, secure the connection via Bluetooth, and confirm with a PIN. It also supports USB type-C and includes a backup passphrase for added security.

15. Material Bitcoin – Best Crypto Hardware Wallet With A Lifetime Warranty

Material Bitcoin stands out as one of the best cold storage wallets
for BTC, ETH, and USDT in 2024, offering exceptional security through its electronic-free design. Constructed from durable AISI 304L steel, it resists fire, flood, and shock damage. The wallet caters to users of all experience levels with comprehensive tutorials and support. To use Material Bitcoin, investors simply scan the QR code on the physical device and transfer funds to the corresponding wallet address.

The wallet employs an automated manufacturing process to generate and engrave private keys onto steel plates without storing them, ensuring high security. The wallet comes with a lifetime warranty and free replacement if the key becomes illegible. The platform offers various wallet options, including Material Ether and Material USDT, as well as a DIY option for self-engraving. The standard Material Bitcoin wallet is available for $89, providing a secure and durable cold storage solution for cryptocurrency.

How Do Crypto Cold Storage Wallets Work?

Cold wallets differ from hot wallets primarily in their security measures and connectivity. Cold wallets require additional authentication steps, like PINs, before transactions can be made, offering enhanced protection against unauthorized access. They communicate with blockchain networks offline through various means, such as Bluetooth or USB connections, depending on the manufacturer. In contrast, hot wallets typically have fewer security layers and are more vulnerable to manipulation if accessed.

Cold storage wallets like Safepal use methods such as QR codes for offline transaction initiation, enhancing security against hacking. While these non-custodial wallets offer users full control over their private keys, they also place the responsibility of key safekeeping on the user. It’s crucial for users to securely record and store their private keys, as there’s no recovery option if they’re lost.

Top Reasons to Use a Cold Crypto Wallet

In this section, we explore some of the key benefits of the best cold wallets.

Seed Phrase Security

When using a cold wallet, users can access their private keys and digital assets by entering a seed phrase. 

Therefore, it is vital to protect your seed phrases by accessing a storage device. One top option is Cryptotag, which stores up to 42 seed phrases on aerospace-grade titanium plates. The device is water and heat resistant, and compatible with Ledger and Trezor. The cheapest storage device on Cryptotag costs only €129.

Potential Risks of Using Crypto Cold Wallets

Cold crypto wallets have some limitations to consider when deciding if they’re the right storage solution for you:

• Susceptible to loss and damage: Cold wallets’ portability makes them susceptible to loss, theft, or damage, potentially resulting in permanent loss of crypto assets with limited recovery options.
• Less accessibility: Cold wallets can be less accessible than hot wallets, potentially hindering quick transactions during emergencies or rapidly changing market conditions.
• Relying on third-party devices: Hardware cold wallets rely on third-party devices, requiring trust in the manufacturer’s security features and risking asset loss if the device fails or is stolen.
• Cold storage wallet setup: Setting up a cold wallet, particularly a hardware wallet, can be challenging. Users must carefully follow instructions for initialization, seed phrase creation, and securely storing the wallet.

How Wallets vs Cold Wallets

As we mentioned, crypto wallets come in two types: “hot” storage, which is connected to the internet, and “cold” storage, stored offline, often on a physical device like a thumb drive. Both provide access to digital funds but differ in security and user experience. Choosing the right option depends on your needs and goals, and a combination of both may be ideal for balancing short- and long-term cryptocurrency use.

How Many Cryptos Can You Store in a Cold Wallet?

You can store an unlimited amount of tokens per single unit. For example, there is no limit on how many Bitcoins you can store in a cold wallet. However, this does not mean that you can store unlimited amounts of different tokens. For example, Solana is one of the largest cryptocurrencies by market capitalization, but Trezor does not support it.

This is why users are advised to check what networks are supported before the purchase and see whether the cold wallet allows users to manually add custom tokens.

Conclusion

Long-term investors with high-value portfolios should opt for one of the best cold wallets. As they don’t need wallets on a daily basis, it’s a good idea to use the ones that are never connected to live servers, making them immune to remote hacking attempts. Moreover, they can recover the funds via a backup passphrase if the cold wallet is lost, damaged, or stolen.

By contrast, day-to-day traders require a solid hot wallet. Considering the nature of their trading operations, they need constant access to their funds, which is easier to carry out via wallets connected to the internet. For those that want a premium cold wallet, Cypherock X1 is an excellent choice.

References

https://blog.invity.io/schedule-of-fees/

https://trezor.io/compare

https://coinmarketcap.com/alexandria/article/a-dive-into-ethereum-2-0

https://coinmarketcap.com/currencies/solana/

https://everstake.one/staking

https://walletconnect.com/

https://coinmarketcap.com/view/pos/

https://www.cnbc.com/2022/11/15/how-to-keep-crypto-safe-by-using-cold-storage-hardware-wallet.html

https://etherscan.io/tokens

https://www.coindesk.com/learn/hot-vs-cold-crypto-storage-what-are-the-differences/

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Kane Pepi

Editor

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Kane Pepi

Editor

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…

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