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Top Crypto Cold Wallets

Top Crypto Cold Wallets

12 Feb, 2021

1.Trezor

The Trezor hardware wallet helps you to store your bitcoins. You can easily plug into your computer or smartphone. It helps you to randomly generated pin code that keeps the device safe and secure.

  • Type of wallet: Cold wallet
  • Purchase cost: $170
  • Incorporated exchange: Yes
Trezor, like Ledger, is a name synonymous with crypto cold wallet storage. Its Model T is the second generation of hardware wallets they have created. The Trezor Model T is very much like the Ledger, but it gives the user the ability to access third-party exchanges, directly in its website interface. While this is quite convenient, it hardly justifies its more expensive price tag of $170.

The Model T utilizes a touch screen, which can be easier to use for beginners than the buttons their previous model used. The Trezor also has a MicroSD card slot, allowing you to use MicroSD cards to encrypt the PIN and further protect your device from attacks.

Like the Ledger Nano X, the Trezor Model T also comes with a USB Type-C cable so that you can connect to either your smartphone or desktop computer. Currently, the Trezor Model T supports more than 1,600 different cryptocurrencies. Some consider the Model T to be a bit more secure than the Ledger Nano X due to the X’s Bluetooth connectivity (although Ledger's Bluetooth is optional).

Pros
  1. Web-based user interface with exchanges built-in
  2. Massive list of supported cryptocurrencies
  3. Open-source software with added benefit of customer and community support
  4. Unlimited wallet storage

Cons
  1. Higher price point than others
  2. Small touchscreen for typing
  3. Confusing for a first-time user

2.Ledger Nano S:

The Ledger Nano S is the first generation hardware wallet introduced by Ledger. One of the first hardware wallets ever made, it followed shortly after the first generation of the Trezor. Like its successor, the Nano S is compatible with thousands of cryptocurrencies. The Nano S does not come with a USB type-C cable, so users with more modern smartphones may have trouble connecting to their devices.

  • Type of wallet: Cold wallet
  • Purchase cost: $59
  • Incorporated exchange: No

The Nano S is essentially the same as its successor, the Nano X, minus a couple of features. Both support the same list of cryptos and have access to the Ledger Live software. Unlike the Nano X, Nano S lacks Bluetooth connectivity, and it only stores up to 18 wallets versus the 100 wallets that can be simultaneously stored with Nano X.

The Nano S only has enough storage to make wallets for a limited number of cryptocurrencies at a time. If you were to delete a wallet in order to add another type of cryptocurrency, you would not lose the cryptocurrency in the wallet you deleted. This is because that cryptocurrency is stored directly on the blockchain.

The deleted wallet, and crypto within it, can still be seen in Ledger Live, but the wallet will not be seen on the Ledger device itself. This means that if you would like to send or receive to the wallet you have deleted, you may have to delete another wallet to make more room.

That said, at just $59, the Ledger Nano S is a fantastic wallet for those looking to store their cryptocurrency safely for a fair price. It is also quite easy to use with Ledger Live, making it an ideal product for a beginner looking for safe and simple storage for a handful of cryptocurrencies.

Pros
  1. Access to Ledger Live
  2. Secure storage for a low price
  3. Open-source software with added benefit of customer and community support
Cons
  1. Max storage of 18 wallets
  2. No wireless Bluetooth feature