With crypto showing no signs of slowing down, more and more people are finally beginning to take notice. Previous skeptics and weary investors who used to smirk at the thought of buying Bitcoin are now seriously looking into BTC investments.
What this means for anyone who has previously bought Bitcoin, is that your initial investment should be growing. And like with anything valuable, you need a safe and secure place to store it.
This is where knowing about the best Bitcoin cold wallets is essential for the long-term storing of your precious BTC.
In this post, we will give you our top 3 picks for the best Bitcoin cold wallets and uncover why cold wallets are not just a bonus for security, but a necessity for any digital investor. Get ready to learn about the best cold storage wallets for Bitcoin along with their features and benefits for securing your BTC.
What is a Cold Wallet?
Before we get into our top picks for the best cold wallets for Bitcoin, it is important to understand what a cold wallet is and why it differs from a hot wallet.
To give you a basic breakdown, a hot wallet, also known as a software wallet, is a type of storage platform that exists on the internet and is always connected, hence the name: software wallet. But, what makes it hot? Well, it is the place to keep your Bitcoin and other crypto if you want to get burnt! As it is always online, your Bitcoin is highly vulnerable to hackers and crypto scams.
On the other hand, if you want to stay safe from Bitcoin scams and frauds, a cold wallet is always going to be the best place for storing your crypto. A cold wallet is disconnected from the internet, therefore it drastically lowers the chances of cyber theft and scams.
❗It is important to note, that although most cold wallets are hardware wallets, not all hardware wallets are cold wallets. So be careful when picking your storage solutions and understand the difference between hardware wallets vs software wallets. We hope that our list will help, so, let’s get into it!
Best Bitcoin Cold Wallets
When it comes to choosing a cold wallet, it’s not just about security – though that’s a huge part of it. Fees, features, and user-friendliness should all play a role in finding the perfect wallet for your Bitcoin storage.
1. Material Bitcoin
Standing out as a non-electronic cold hardware wallet, it offers the highest security functions from our list of best cold wallets for Bitcoin. The Material Bitcoin cold wallet gives you complete ownership of your BTC, putting the focus on physical self-custodial security.
Description: Your Bitcoin is saved onto an indestructible metal plate. Another hardware solution is available for seed phrase storage with Material DIY, where your data is engraved onto the metal plate. Either option ensures longevity and, there is no need to worry about electronic failures.
💸Fees: There are no ongoing fees after the initial purchase. The cost is upfront for the metal plate.
Main Features:
- Non-Electronic Storage: You never have to worry about the wallet degrading, running out of battery or hacking since there is no electronic component.
- Durability: The 100% stainless steel plate is waterproof, fireproof and indestructible.
- Portability: It is the size of a credit card, and is easy to store or hide in a variety of locations.
- Security: The non-electronic design of Material Bitcoin eliminates all the vulnerabilities associated with digital storage devices. This makes it immune to online hacking and scams.
✅ Pros: Highly secure and durable.
❌ Cons: Requires time for initial set-up and transfer of Bitcoin.
💲Price: The cost varies between €87 – €199, depending on the cold wallet variation you purchase.
2. Ellipal Titan
This wallet stands out with its 4-inch IPS touchscreen display offering self-custodial storage of your Bitcoin in a digital format.
Description: The Ellipal Titan Wallet secures your Bitcoin through state-of-the-art hardware, known as “air-gapped” technology. It uses QR codes for making transactions, claiming that your private keys never leave the device.
💸Fees: There are no ongoing fees to use the wallet for storage.
Main Features:
- Air-Gapped Security: The wallet operates offline, eliminating the risks associated with being connected to the internet.
- Durability: This wallet claims to be tamper-proof, being water and impact-resistant.
- Portability: It is roughly the size of a standard cell phone, making it easy to carry but also bulky for users who are looking to put it in their pocket.
- Security: By being air-gapped and not relying on any form of wired connections, it reduces the risks of hacking.
✅ Pros: User-friendly interface for easy transactions.
❌ Cons: Due to its size and material, the physical durability of the hardware cold wallet is questionable.
💲Price: Priced between €169 – €209 based on the package and accessories you purchase.
3. Cypherock Wallet
This cold wallet comes out as a unique option for those who are looking to store their Bitcoin. It blends the concepts of traditional cold hardware storage with new technology to offer a secure labyrinth for BTC storage.
Description: The Cypherock Wallet offers combined hardware and biometric technologies to keep your Bitcoin offline. The wallet works by dividing your seed phrases into 5 hardware components, only requiring 2 out of the 5 portions of your seed phrase to grant access.
💸Fees: There are no additional fees for storing your Bitcoin. All costs are upfront for the purchase of the wallet.
Main Features:
- Biometric Security: Uses biometric technology to ensure that only you can access the wallet.
- Durability and Portability: Designed to be both sturdy and portable, it comprises of 4 cards and one USB-like digital device. It is portable and doesn’t weigh much but the thought of carrying around 5 individual components seems a bit excessive.
- Security: Having biometric security and air-gapped functions makes the Cypherock Wallet a safe option for Bitcoin storage.
✅ Pros: In addition to Bitcoin, Cypherock Wallet supports over 3,000+ cryptocurrencies, offering versatility for you to build a diverse crypto portfolio.
❌ Cons: It seems overwhelming and overly complicated with so many components to the wallet.
💲Price: The most expensive option on our list, the Crypherock Wallet ranges from €209 to €334.
Investing in Bitcoin is a journey filled with excitement and, admittedly, a bit of anxiety, especially when it comes to security. Cold wallets, with their offline storage, give peace of mind to investors looking to safeguard their digital assets.
Cold or Hot Wallet for Bitcoin?
Still not sure? Ask yourself this: “What is my investment strategy?”
As you have seen outlined above, if your strategy is to hold onto your Bitcoin investment for the long haul, then a cold wallet is without a doubt, the best option. On the other hand, for day traders and those looking for quick access to their Bitcoin, a hot wallet’s ability to instantly connect and make trades, provides convenience. Just be aware of the risk of hacking!
The Easiest Cold Crypto Wallet to Use: Material Bitcoin
When it comes to ease of use and security, Material Bitcoin stands out for its user-friendly approach and indestructible components.
You can securely add Bitcoin to the wallet, ensuring it remains under your custody and no one else’s.
Material Bitcoin not only gives you a tangible sense of security but also you can buy Bitcoin directly from Material Bitcoin and secure it on the metal plate, streamlining the entire investment process!
For more facts about Bitcoin cold storage, check out the FAQ section below.
FAQ
What is the safest Bitcoin wallet?
- While all cold wallets offer enhanced security compared to hot wallets, the safest option depends on your specific needs and how you manage your private keys. Material Bitcoin is a leading option.
Are cold wallets 100% safe?
- Cold wallets significantly reduce the risk of online theft by keeping your Bitcoin offline. Just remember to not share your personal info or seed phrases with anyone!
What happens if your cold storage wallet breaks?
- Most cold wallets offer recovery options through backup seeds or phrases, allowing you to restore your wallet and access your Bitcoin. Material Bitcoin does not have any electronic components, so this reduces the chances significantly.
Does my crypto still grow in a cold wallet?
- The value of your Bitcoin can grow regardless of where it’s stored. A cold wallet doesn’t impact its value but ensures its security.
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