In this face-off between BitBox02 vs. Coldcard, we will dive deep into exploring both hardware wallets.
Each has unique features specific to different types of users.
We’ll compare their security features, ease of use, supported cryptos, price, and much more.
Meet the Wallets: BitBox02 and Coldcard
BitBox02
The BitBox02 hardware wallet was created by Shift Crypto. A Swiss company that is well-known for its high privacy and security standards.
The company was founded in 2015 by a team of Bitcoin lovers and security experts. It aims to create secure crypto storage accessible to everyone.
The BitBox02 is small and functions as a USB-C device. You can easily carry it around and it’s easy to use.
It has touch sliders on the side, which eliminates actual buttons on the device.
Coldcard
The Coldcard wallet was developed by Coinkite, a Canadian company that’s been around since the early Bitcoin days. It started in crypto security in 2012.
Coinkite uses open-source technology, adding an extra plus to its security features.
The Coldcard wallet is a no-frills-looking device, that resembles an old-school calculator.
It has a built-in keypad and a small screen that displays your transaction info.
Let’s break down the important features of each wallet one by one.
Supported Cryptocurrencies
| BitBox02 Multi Edition | Coldcard |
|---|---|
| Bitcoin, Ethereum, Litecoin, ERC-20 tokens | Bitcoin only |
BitBox02
The BitBox02 comes in two editions: the Multi-Crypto edition and the Bitcoin-only edition.
The Multi-crypto edition supports a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and all ERC-20 tokens, covering thousands of different tokens on the Ethereum network. You have access to DeFi projects, NFTs, and dApps.
Coldcard
The Coldcard wallet is a 100% Bitcoin and Bitcoin-only hardware wallet. Meant for BTC purists who want to concentrate on the OG of crypto.
Setup Process
BitBox02 Setup
Setting up the BitBox02 is fairly easy, even if you’re new to hardware wallets.
1️⃣ Download the BitBoxApp onto your device.
2️⃣ After connecting to your computer or smartphone via the USB-C port, the BitBoxApp prompts you through the step-by-step setup. The app is fairly intuitive and easy to navigate.
3️⃣ When it comes to backing up your wallet, BitBox02 uses a microSD card to store an encrypted backup of your private keys.
🚨Remember: Make sure to keep that microSD card safe, where it can’t be damaged or lost!
Coldcard Setup
The Coldcard setup has a few more steps, but any tech-savvy user will appreciate it! This wallet is considered air-gapped, as it is meant to work offline.
This means that it doesn’t need to be connected to a computer or smartphone to function. But more about that later…
The Coldcard uses a microSD card for several functions, including firmware updates and transferring transaction data.
You generate your wallet and private keys directly on the device, and transactions are signed offline.
1️⃣ Download the Sparrow App onto a device.
2️⃣ Plug in your Coldcard to your computer, using a USB cable.
3️⃣ Follow prompts on the device to set up your PIN and backup recovery.
You are now ready to receive Bitcoin via the Sparrow wallet. For more detailed instructions on how to use the Coldcard wallet, please check our Coldcard wallet review.
Pro Tip:
Always store your recovery seed phrase on a cold wallet backup, like Material DIY.
Paper cards or electronic SIMs can easily break, degrade with time, or be misplaced.
Ease of Use
When it comes to utilizing your hardware wallet, you want to make sure that you are comfortable and familiar with how it works.
The last thing you want is to be doubting your moves when buying and sending crypto.
BitBox02
When it comes to user-friendliness, BitBox02 has a good reputation.
Users tend to like the touch sliders, that make navigating the device intuitive.
The app is available for desktop and mobile, so you can manage your crypto on the go.
The straightforward setup and operation make it ideal for beginners or those who prefer a hassle-free experience.
Coldcard
The Coldcard, on the other hand, is considered a bit more complex to use.
The device itself has physical buttons and a small monochrome screen that displays detailed information.
This has been considered frustrating for some, as sensitive information is being displayed on such a small screen.
However, many advanced users like this old-school control over their transactions.
There is a steeper learning curve to completing transactions but like with anything, it just takes practice.
This isn’t to say that there aren’t any happy customers, but in terms of user-friendliness, Coldcard isn’t high on the list.
Security Features
The main reason to use a hardware wallet is for safety and security. Here is a breakdown of BitBox 02 and Coldcard Wallet when it comes to their security features.
| Features | BitBox02 | Coldcard Wallet |
|---|---|---|
| Dual-Chip Architecture | ✅ | ✅ |
| Secure Multisig | ✅ | ✅ |
| Open-Source Firmware | ✅ | ✅ |
| Encrypted Backups | ✅ | ✅ |
| Secure Element Chip | ✅ | ✅ |
| Insurance Integration | ✅ | ❌ |
| Air-Gapped | ❌ | 🤏 |
| Recovery and Backup Options | ✅ | ✅ |
Coldcard wallet air-gapped security feature disclaimer: Coldcard claims to be air-gapped as you can sign transactions offline. However, you are required to use third-party wallets, like Sparrow (while connected to your computer or mobile device) to make transactions.
Price
BitBox02
Priced at $161 for both the multi-crypto and Bitcoin-only versions.
Coldcard
Coldcard retails at $157.94 for the Mk4 version.
There is a new Coldcard wallet available that has a QR scanner, 3xAAA battery support, a qwerty keyboard, and a larger screen, that just hit the market. This version is priced at $219.99.
Who It’s Best For
Finding the ideal crypto wallet for you all comes down to your needs and how you plan on using your crypto.
BitBox02
This is a good option for beginner and intermediate users who want a straightforward way to manage their crypto, with the aid of managing their digital assets on a separate device with a larger screen (computer, mobile phone).
Coldcard
Geared towards intermediate to advanced users and Bitcoin enthusiasts who are comfortable with a more technical setup and usage process.
Pros and Cons of BitBox 02 VS. Coldcard Wallet
| BitBox02 | Coldcard | |
|---|---|---|
| Pros |
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| Cons |
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Alternative Cold Storage Solutions
BitBox02 and Coldcard are good storage options for securing your crypto assets.
But they are not the only hardware wallets on the market.
On the contrary, some of the best hardware wallets are cold storage solutions, that cater to users who want true security for their crypto.
Material Wallets is a straightforward and truly 100% cold storage crypto wallet. You can choose from Material Bitcoin, Material Ether, or Material USDT, depending on your preferred cryptocurrency.
STANDARD
The Bitcoin wallet not only for geeks
$89
MATERIAL ETHER
Ethereum ERC-20 / EVM
$89
MATERIAL USDT
Tether ERC-20 / EVM
$89
What makes Material Wallets stand out is its simplicity and durability.
Made from a stainless steel card, it is resistant to physical damage.
Plus, it is NEVER connected to the internet. No cables, no apps, nothing.
This eliminates the risk of online hacking and you maintain the ownership of your private keys.
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