11 Best Cold Wallets for 2024 – Safest Cold Wallets Compared

Cold wallets are the safest way to store cryptocurrencies, with private keys encrypted onto a physical device. Cold wallets are never connected to the internet, meaning online hacks can be avoided.

This guide ranks and reviews the 11 best cold wallets for security, user-friendliness, reputation, supported coins, and other important factors. Read on to choose the right cold wallet for your crypto storage requirements.

Detailed Reviews of the Best Crypto Hardware Wallets

We’ll now take a closer look at top cold wallets for crypto. Read on to make an informed decision.

 1. Cypherock X1 – The Overall Best Cold Crypto Wallet for 2024 

• Price: $159
• Supported Coins: 9,000+ crypto assets
• Storage Capacity: 1 MB
• Staking: ✅ (Staking can be done through third-party connections)
• Mobile App: TBA

We rate Cypherock X1 as the overall best option for cold wallet storage. The self-custody hardware wallet was developed by leading crypto startup Cypherock, which raised $1 million to create the uniquely designed X1 Vault and X1 Cards. This crypto cold wallet supports over 9,000 digital assets and can store up to 4 existing seed phrases.

Cypherock’s EAL6+ certified Secure Element (SE) chip ensures users’ crypto holdings are protected with one of the highest levels of security in the industry. Each X1 card is backed by this bank-grade security chip, making it just as safe as the top credit cards. Additionally, X1 cards send data through NFC with end-to-end encryption for safer transfers.

The Cypherock X1 comes bundled with the X1 Vault device, four X1 cards, and a hard protective case. Each can be purchased separately. Cypherock offers a one-year warranty for its crypto wallet, and the X1 cards are designed to last at least 20 years. Using Shamir Secret Sharing, the Cypherock X1 securely decentralizes crypto keys, making it an ideal hardware wallet for both new and seasoned crypto enthusiasts.

Use promo code “coldwallet” to get 17% off on the Cypherock X1.

2. Ledger Stax – Premium Hardware Wallet With 3.7-inch Touchscreen and NFT Support

• Price: $399
• Supported Coins: 500+
• Storage Capacity: 2 MB
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Ledger Stax is the latest and most advanced model from Ledger; an established wallet provider with over 5 million customers. The premium hardware wallet comes as a credit-card-sized device with a 3.7-inch touchscreen. This provides a great user experience, especially when setting up transactions.

The touchscreen aspect also enables users to check their portfolios seamlessly. Ledger Stax also offers rock-solid security features. Users must enter a PIN via the device when verifying outgoing transfers. It is always storing private keys offline; transactions are signed via Bluetooth or a USB-C cable. Users also receive a 24-word passphrase, enabling recovery from any device.

Ledger Stax supports over 500 crypto assets, including BTC, SOL, ETH, BNB, and XRP. Custom tokens and NFTs can also be added. Ledger Live, the wallet’s application for desktops and mobiles, supports staking and crypto swaps. Ledger Stax can also be connected to hot wallets without exposing its private keys. The wallet costs $399, including shipping.

3. Ellipal Titan 2.0 – Air-Gapped Security Features With Unlimited Crypto Storage 

• Price: $169
• Supported Coins: 40+ blockchains and 10,000+ tokens
• Storage Capacity: Unlimited
• Staking: ✅ (APYs of up to 10%)
• Mobile App: ✅

Voted the best crypto cold wallet for 2024 by Forbes, Ellipal Titan 2.0 is another great option. Its core security feature is air-gapped technology. This means outgoing transactions don’t require Bluetooth, USB cables, or other network connections. Instead, transfers are signed by scanning a unique QR code.

This is displayed on the Ellipal Titan 2.0 device, and scanned from its iOS/Android app. For additional security, the device comes with an in-built camera. This scans a QR code generated by the app, ensuring remote hacks are virtually impossible. The wallet is also protected by a PIN, password, and backup passphrase.

Ellipal Titan 2.0 supports over 40 blockchain standards, including some of the best altcoins. This includes ETH, BCH, LTC, BNB, SOL, and XRP. Custom tokens and NFTs on the Ethereum and Solana standards are also supported. Best of all, there are no storage limits, making it a great choice for diversified portfolios. The Ellipal Titan 2.0 retails for $169.

4. Trezor One – Trusted Hardware Wallet Available for Just $59  

• Price: $59
• Supported Coins: 1,000+ coins and tokens
• Storage Capacity: Not stated
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Trezor One is a budget-friendly yet highly secure cold wallet. It retails for just $59, making it one of the most affordable options in the market. Trezor One, which comes as a small two-button device, is open-source. This is a huge deal breaker for many crypto investors, considering its underlying code is open to public scrutiny.

Users must enter a PIN when confirming transactions, executed via a USB-C cable. That said, unlike most cold wallets, Trezor One doesn’t support Bluetooth. Nonetheless, over 1,000 cryptocurrencies are supported, including BTC, ETH, USDT, BNB, DOGE, MATIC, and AVAX. There are, however, some notable exceptions, including SOL and ADA.

Trezor also offers native applications for desktops and mobiles. Not only for sending and receiving coins but also for accessing staking and crypto swaps. iOS, however, only supports view-only mode. This will be a major drawback for some users. Moreover, unlike other Trezor models, the One comes without a Certified Chip EAL6+.

5. Ledger Flex – Pocked-Sized Cold Wallet With an E Ink Touchscreen  

• Price: $249
• Supported Coins: 500+
• Storage Capacity: 2 MB
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Ledger Flex is also one of the best cold wallets in the market. It offers security features and specifications similar to those of Stax. Albeit, with a slightly smaller screen and lower cost price – with Flex retailing for $249. Ledger Flex comes with a 2.84-inch E Ink touchscreen. This is large enough for most users and still offers a solid experience.

Users can seamlessly approve funds and view portfolio balances without needing the Ledger Live application. What’s more, Ledger Flex supports NFT visualizations. This can also be used as the device’s lock screen image. However, unlike the Stax, Ledger Flex doesn’t support wireless Qi charging.

That said, this premium feature won’t be a dealbreaker for most users. Outgoing transactions can be verified via Bluetooth or a USB-C cable. This is in addition to a PIN, selected by the user when getting started. The secret phrase comes as 24 randomly generated words. Over 500 cryptocurrencies are supported and staking and crypto swaps are available via Ledger Live.

6. Trezor T – Affordable Cold Storage Solutions for Diversified Portfolios   

• Price: $149
• Supported Coins: 1,000+ coins and tokens
• Storage Capacity: Not stated
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Retailing for just $149, Trezor T is another budget-friendly cold wallet. This is a great option for those with diversified portfolios across multiple chains. It supports over 1,000 cryptocurrencies, including BTC, DOGE, SHIB, AVAX, LINK, BCH, XLM, CRO, APE, ARB, and EOS. And, unlike the Trezor One, there’s also support for SOL and ADA.

What’s more, users can add custom tokens on multiple blockchain standards. This is ideal for storing high-risk high-reward cryptocurrencies with micro-cap valuations. Users simply need to paste the token’s contract address and the balance will be displayed immediately. Trezor T also connects to popular hot wallets like MetaMask and MyEtherWallet.

This is a good solution when holding cryptocurrencies that aren’t initially supported. Or when connecting to decentralized applications. In terms of specifications, Trezor T comes with a 1.54-inch color LCD touchscreen. Transfers are signed via a USB-C cable. There’s no support for Bluetooth or air-gapped technology.

7. Blockstream Jade – Top-Rated Bitcoin Hardware Wallet With an In-Built Camera   

• Price: $64.99
• Supported Coins: Bitcoin
• Storage Capacity: 4 MB
• Staking: ❌
• Mobile App: ✅

Blockstream Jade is a highly-rated cold wallet designed exclusively for Bitcoin. It doesn’t support altcoins, so another option will need to be considered when storing altcoins. Nonetheless, Blockstream Jade retails for just $64.99 and it comes packed with advanced security features. This includes air-gapped technology.

Meaning – the wallet is never exposed to the internet, let alone Bluetooth and other network connections. Blockstream Jade has an in-built camera. This is used to scan a unique QR code when funds. The QR code is generated by the Blockchain Green app, supporting iOS and Android devices.

Blockstream Jade also offers open-source code and users can choose from a 12 or 24-word backup passphrase. Available in multiple colors – those based in the US will receive their device in 3-7 business days. However, international shipments can take up to 4 weeks. Shipping fees are calculated during the checkout process.

8. Ngrave – Premium Crypto and NFT Cold Wallet With a 4-Inch Touchscreen    

• Price: $398
• Supported Coins: 3,500+ coins and tokens
• Storage Capacity: Unlimited
• Staking: ❌
• Mobile App: ✅

Ngrave is a premium crypto wallet offering cold storage solutions. It supports more than 3,500 coins and tokens, including some of the best cryptocurrencies to buy. This covers everything from BTC, DOGE, and SAND to BNB, SOL, and MATIC. Users can create up to 100 wallet accounts, streamlining the portfolio-building process.

Ngrave also supports NFTs, although only those on the Ethereum standard. Nevertheless, Ngrave is another option that comes with air-gapped security. The in-built camera scans a QR code when signing transactions. This is generated on the mobile app after setting up the transfer.

The Ngrave wallet – which has received EAL7 certification, is also ideal for beginners. It offers a 4-inch color touchscreen, making it seamless to view transaction details and existing balances. However, there are some drawbacks. It retails for $398, making it one of the most expensive in the market. What’s more, Ngrave doesn’t support staking.

9. Coldcard – Secure Bitcoin Wallet With an In-Built Keyboard for Transaction Signing    

• Price: $219.99
• Supported Coins: Bitcoin
• Storage Capacity: Unlimited
• Staking: ❌
• Mobile App: ❌

Coldcard claims to be the most secure cold wallet in the industry. It comes as a calculator-style device with a 3.2-inch LCD screen. Not to mention a fully-fledged keyboard and air-gapped technology. This makes transaction signing super-secure. The keyboard can also be used to enter the 24-word backup passphrase.

Coldcard also supports the BIP39 passphrase, allowing users to choose the 25th word. However, this cold wallet might not be suitable for active traders. This is because it doesn’t come with a native application. Meaning – users must connect Coldcard with a hot wallet like Electrum whenever sending and receiving funds.

Users can then scan the generated QR code with the in-built camera. Do note that Coldcard only supports Bitcoin, so altcoins must be stored in another wallet. Moreover, the wallet costs $219.99, which might be too pricey for budget-conscious users. Coldcard also frequently uses technical language, making it more suitable for seasoned pros.

10. Safepal S1 Pro – Combine Cold Storage With a Fully-Fledged Crypto Debit Card    

• Price: $89.99
• Supported Coins: 100+ blockchains
• Storage Capacity: Unlimited
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅

Safepal S1 Pro is one of the best options for combining cold storage solutions with active spending. It comes with a crypto-backed debit card issued by Visa. This enables users to spend balances in the real world without exposing their private keys. What’s more, transactions go through the Arbitrum network, ensuring cost-effective fees.

Those using the Safepal card earn crypto rewards on eligible purchases. Rewards can also be earned when staking cryptocurrencies. Safepal S1 Pro is also highly secure. It offers 100% air-gapped transactions via QR scanning. This is facilitated by an in-built camera and the Safepal app.

Safepal S1 Pro is also great for building diversified crypto portfolios. It supports over 100 blockchain networks, including Bitcoin, Ethereum, and Solana. Custom tokens can also be added and there is unlimited storage capacity. Safepal S1 Pro retails for an affordable $89.99. Cheaper models are also available, albeit, with fewer features.

11. Bitbox – A Great Wallet Option When Engaging With Decentralized Applications    

• Price: $166
• Supported Coins: 9 blockchain standards + ERC Tokens
• Storage Capacity: 16 GB
• Staking: ✅ (APYs are determined by third-party pools)
• Mobile App: ✅ (Android only)

Last on this list of cold wallets is Bitbox. This open-source wallet comes as a USB-C device. It has tiny specifications of just 54.5 x 25.4 x 9.6 mm, making it a solid choice for frequent travelers. What’s more, it has a storage capacity of 16 GB and a dual-chip design for enhanced security.

We found that Bitbox is also a top option for those wishing to engage with Web 3.0 products. It connects with all Ethereum-based applications, including NFT marketplaces and decentralized exchanges. Connections are made via WalletConnect, ensuring the private keys never leave the device.

Bitbox is also EVM-compatible, meaning it supports Polygon, BNB Chain, Arbitrum, Optimism, and Fantom. However, custom tokens can only be added when using the ERC-20 standard. In terms of pricing, Bitbox retails for $166. However, do note that one-on-one support costs $110, which will be a major drawback for most users.

What Is a Cold Wallet: The Basics

Put simply, cold wallets store cryptocurrencies without exposing private keys to the internet. Unlike hot wallets, this ensures remote hacks are avoided. Crucially, most cold wallets come as a hardware device. A PIN is typically entered on the device when signing transactions. This means only the wallet holder can authorize movements.

Some cold storage wallets take things one step further via air-gapped security. Not only does this avoid live internet servers but also other connection types, such as Bluetooth and USB-C cables. Instead, transactions are confirmed by scanning a QR code via the wallet’s in-built camera. Either way, cold wallets are a must-have when holding large amounts of crypto.

They’re the safest and most secure storage method available. Importantly, recovery is still possible if the device is lost, damaged, or stolen. This is because cold wallets come with a backup passphrase, which only the user has access to. However, cold wallets aren’t free, with most retailing for over $100.

While some people use hot wallets for short-term trading, a cold wallet is always better for holding crypto long term.

A Closer Look at How Hardware Wallets Work

Read on for a more detailed explanation of how hardware wallets work, and why they’re a must-have for most crypto investors.

Cold Storage

The main premise of hardware wallets is that they offer cold storage. As we’ve established, this means the wallet is never connected to the internet. This safeguard protects investors from online threats, such as hacks, viruses, and malware. The private keys – which provide remote access to the wallet’s contents – are encrypted on a hardware device.

So that begs the question; if hardware wallets can’t connect to the internet, how are transactions processed?

In some cases, hardware wallets use Bluetooth or a USB-C cable. This coincides with a PIN function. The user chooses a PIN when setting the wallet up, and it must be entered on the device whenever transfers are requested. Put otherwise, funds can’t leave the wallet without having physical access to the device.

The best hardware wallets offer air-gapped security. This increases security, as Bluetooth and USB-C connections aren’t completely risk-free. Air-gapped wallets usually come with an in-built camera. This is used to scan a QR code, generated from the wallet’s native app. This is considered the most secure way to authorize transactions.

Backup Passphrase

Beginners might be concerned about relying solely on a hardware device when storing cryptocurrencies. After all, the device could be lost, stolen, or damaged. The wallet’s contents can be recovered in all instances via the backup passphrase.

This is provided when setting up the wallet and it’s often 12 or 24 words. It’s imperative that the backup passphrase is written down in the correct order, stored somewhere safe, and never shared with anyone. Crucially, it provides immediate access to the wallet from any location.

Here’s how it works:

• Let’s say you lose the hardware device
• You immediately download a free software wallet (e.g. MetaMask)
• When opening the application, elect to restore a wallet from another location
• You’ll then be asked for the backup passphrase
• Once entered, the cryptocurrencies stored in the hardware wallet can be accessed from the software wallet
• You can keep them there or transfer them to another hardware device

The backup passphrase is also needed if you forget the wallet’s PIN. This can be entered directly on the device, meaning you won’t need to download a software wallet.

Key Advantages of Cold Storage Crypto Wallets

The key benefits of cold wallets are summarized below:

• Self-Custody: Cold wallets offer self-custody storage. Only the wallet owner can access its private keys and thus – authorize transactions. This ensures investors truly own the cryptocurrencies they buy.
• Avoid Internet Threats: Hot wallets are prone to internet hacks and other crypto scams. This isn’t the case with cold wallets, considering they’re never exposed to live servers. Instead, transactions are signed offline via Bluetooth, USB-C cables, or QR scanning.
• Easy Recovery: Hardware wallets can be lost, stolen, or damaged, like any other device type. Fortunately, recovery is seamless. Users can regain access to their cryptocurrencies from any device by entering their backup passphrase.
• Multi-Asset Storage: The best crypto cold wallets support multiple blockchain networks. This often includes Bitcoin, Solana, Ethereum, BNB Chain, and XRP. As such, investors can store their entire crypto portfolios in one safe place.
• Highly Transportable: Another benefit is that hardware wallets are highly transportable. They come as a small, pocket-sized device, often appearing like a USB stick or calculator.
• Partially Anonymous: Hardware wallets are partially anonymous, which will be a benefit for some investors. Incoming and outgoing transactions are tied to blockchain addresses rather than the user’s identity. However, do remember that shipping details and payment details must be provided when ordering a device.

Our Methodology When Picking the Best Cold Wallets

Picking the best cold wallets was no easy feat, considering the number of options available. We created a methodology when ranking the top providers.

Here’s a summary of our key research methods:

• Robust Security and Non-Custodianship: Security is the key reason to purchase a cold storage wallet. Therefore, we only considered wallets with robust safety features. This is in addition to non-custodianship, ensuring only the wallet owner has access to the private keys.
• Price: Cold wallets come at a cost, so we ensured that all budgets were covered. The cheapest option is Trezor One at $59. At the other end of the scale is Ledger Stax, retailing for $399.
• Supported Coins: We prioritized cold wallets supporting a wide selection of coins. This allows users to store all of their cryptocurrencies in one place. Custom tokens should also be supported.
• Compatibility: Most cold wallets develop a native application. This is needed when setting up outgoing transfers or portfolio management tools. We assessed which devices and operating systems the application supports.
• Shipping: Shipping fees and times were also included in our research methods. Providers were prioritized when offering fast shipment times with reasonable fees.
• Additional Features: The best cold wallets support additional features, such as staking, crypto swaps, and fiat purchases. These features should be highly accessible, user-friendly, and come with competitive fees.

Difference Between Cold Wallets and Hot Wallets

Both cold and hot wallets have a purpose in the crypto ecosystem. Understanding the benefits and drawbacks of each is imperative.

The table below highlights the key differences between cold and hot wallets:

Conclusion

In summary, long-term investors, or those holding large balances, should store cryptocurrencies in a cold wallet. Doing so offers the highest level of security and protection against online hackers.

While our overall top pick is Cypherock X1, as it offers institutional-grade security via NFC-powered X1 cards and a smooth yet highly safe user experience, everyone’s needs are different, and only you can decide what device suits you best. However, we are sure that you will find a great match for your needs within this list.

FAQs