9 Best Cold Wallet for Crypto Storage in 2024

Review and comparison of the top Cold Storage Wallets with Pros and Cons. Pick the best Crypto Cold Wallets of your choice to store your cryptocurrencies securely:

Hardware wallets are a type of non-custodial wallet that ensures crypto private keys are kept offline at all or most of the time, including when verifying Send transactions. Software non-custodial crypto wallets also leave your crypto private keys on a local device like a smartphone or PC.

However, these cryptocurrencies’ private keys are more exposed to theft online than when stored in a hardware wallet if the PC and smartphone device are always connected to the Internet despite being encrypted.

Hardware Crypto Cold Wallets – Needs and Market Trends

A hardware wallet stores crypto private keys offline on a secure chip away from your computer, even when they are synced with a software wallet or client. It also verifies Sending transactions offline. This tutorial looks at the top hardware wallets, facts about them, and the top hardware crypto wallets and how to use each.

Hardware crypto wallets will reach a market size of $1.02 billion by 2028:

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List of the Best Crypto Cold Storage Wallets

Popular and top cold wallet crypto:

1. Ellipal Titan
2. Ledger Nano S
3. SafePal
4. Ledger Nano X
5. Exodus
6. Mycelium
7. Coinbase
8. Trezor Model T
9. Atomic Wallet

Comparison of Cold Wallet Crypto Storage

Detailed reviews:

#1) Ellipal Titan

Best for crypto traders and holders who are mobile users.

Ellipal Titan hardware supports 41 coins and over 10,000 crypto tokens, according to their website. Ellipal takes crypto holding, managing, and trading to another level with airgap technology, meaning it is not connectable via USB, WiFi, or Bluetooth.

Therefore, there is no potential for the private key to leave the device. It also deletes itself if it detects physical breakage.

The device works like a mobile phone with a touchscreen and a separate chip for storing crypto but can be used for extra functionality. Compared to other crypto cold storage devices, it has a bigger touch screen and this makes it easy to operate and input.

How to use Ellipal Titan cold crypto storage wallet:

• Turn on Ellipal, choose language, Next, and tap Create Account. Fill in the information and set up a passphrase for recovering the crypto in case something happens to the device. Verify the mnemonic by re-entering it into the device, then store the paper safely.
• Select the coins to include in the account and finish the setup.
• Download the app, install it on your mobile phone, and pair the new account on the device to it. This can be done by selecting the icon at the top right of the screen on the Ellipal device. It opens the Connect to App page.
• Tap Add Account and then Connect to Cold Wallet on the Ellipal app on your phone and the camera will open on your phone. Scan QR codes on the Ellipal device. Press Autoplay to have it play all the codes as you hold the phone to scan them.
• The new cold wallet account is now set up with the crypto you selected. To send or receive crypto, use the respective tabs on the app. To sign a send transaction, tap send, enter the amount, enter an address, choose gas fees, and submit.

Tap the dark area to reveal the unsigned data QR code and go to Ellipal hardware and click the Sign icon on the right. Scan the code. Select the Scan signed data QR code on the app. It opens the camera and so scans the signed QR code on the Ellipal. This will send the transaction.

Features:

• Portable. The size is 118*66*9.7 mm. LCD is 3.97 inches, and the battery (1,400 mAh) lives for 259 standby hours. It is made of aluminum alloy, has a camera 5 M AF, and has a 12-month warranty from the purchase date.
• Import private keys and recovery seeds from your trusted source.
• Generates QR Codes that can be scanned when sending crypto.
• Purchase 30 cryptos and tokens using USD and other fiat currencies through Simplex, Bifinity, and MoonPay (purchase using credit and debit cards, PayPal, Banx, and ApplePay).
• In-built exchange/crypto swapping.

Pros:

• Supports 3,600+ cryptocurrencies.
• Buy crypto for/with fiat currencies like USD. A wide range of payment methods is supported (to mean integrated).
• Secure and portable and can be used on mobile devices.
• A large screen that is also touch-sensitive for easy input.

Cons:

• It’s a bit more expensive compared to basic hardware wallets.

Verdict: Ellipal Titan can be considered one of the most secure and best cold wallet devices because it excludes the possibility of a stored private key ever leaving the device storage since it does not connect to the Internet, Bluetooth, or USB connectivity. It allows communication with the app via a QR code.

Price: $119

#2) Ledger Nano S

Best for beginner users who need to trade and hold diverse cryptos.

Ledger Nano S is one of the cheapest cold hardware wallets at just $59 and it comes packed with features to let you securely store or hold, transfer (send and receive), and trade 1100+ cryptocurrencies. The device connects to a smartphone and PC through a USB-C cable and then syncs with a software client to facilitate operation.

How to use Ledger Nano S cold storage:

• Connect the device to a computer or smartphone to set it up. Download, install, and open the Ledger Live app for Android or PC or the extension. Click/tap Create a new wallet or restore an existing one from a previously backed-up passphrase. We assume you are setting up a new one.
• The device displays a welcome screen after syncing and you must proceed to set up PIN code from one number after another. Operating the device is done by way of pressing two side buttons used for scrolling when pressed each at a time and to confirm a selection or type stuff when pressed simultaneously. Use the buttons to set up your PIN as you look at the screen.
• Copy the seed passphrase onto a piece of paper and store it. It is used to restore crypto stored there if the device is lost or broken. Confirm the passphrase by re-entering it on the device one word after another, using the two left and right buttons to scroll or confirm entries.
• Press both buttons to access the Dashboard on the Ledger Live app on the computer. The Ledger Live app allows you to add crypto apps for your respective cryptocurrencies from the Manager tab. Search apps for the crypto you want and install them. The send, receive, exchange, and buy tabs are clear.

Features:

• Incorporated exchange to swap crypto. Ability to buy crypto for fiat through third parties.
• CC EAL5+ certified chip. Features two buttons and a built-in OLED display.
• Supports installation of just 6 crypto apps so you have to delete some or all existing ones to add new ones/more.
• Lightweight and portable – 56.95 by 17.4 by 9.1 mm and weighs 16.2 grams or 0.0357 pounds

Pros:

• Affordable at its value.
• Fiat-crypto buying is supported in addition to crypto-to-crypto swapping.
• Non-custodial and secure.

Cons:

• The screen is small and not touched – which makes it difficult to operate.

Verdict: Ledger Nano S crypto cold storage is an excellent choice for both individuals and companies that want to store, hold, exchange, and buy any amount of cryptocurrencies for fiat. However, it supports only 6 apps thus Ledger Nano X is a better option.

Price: $59

#3) SafePal

Best for crypto traders and holders who are mobile users.

SafePal is one of the best cold wallets that supports trading, buying, storing, swapping, and managing 30,000+ cryptos and tokens over a secure chip and through an app that the device syncs with. It is arguably one of the most affordable hardware wallets for beginner users at $49.

It is also categorized as one of the best cold wallets as it is air-gapped, meaning no Bluetooth, WiFi, NFC, or USB connection communication with other devices.

How to use Safepal hardware wallet:

• Select language and authenticate by scanning QR on the device with a phone browser camera. Enter the displayed code on the app and scan the code back when it is saved on the browser on the phone.
• Choose to Create a new wallet or Recover my wallet. If new, choose the mnemonic length, write down mnemonic words, tap Next, and confirm the mnemonic by correctly choosing their position in the order they were displayed.
• Next, create a PIN, name the wallet, and proceed to scan the QR code to download the app. Open the app, choose the password, and choose Hardware wallet in the next phase (there is another option called Software wallet through which you can pair a software wallet). Click Next, use the hardware to scan the QR code displayed on the app, enter the pin code, and use the app to scan the QR codes displayed on the device to pair both.
• It supports BTC, ETH, BNB, and ERC20 tokens by default. You need to manually add others to send, receive, manage, trade, and buy. To add it, click the + button on the top right-hand side of your default screen. Select all coins to add and scan the QR codes with hardware and app as required.

Features:

• Hardware wallet add-ons like the leather case and SafePal Cypher which is a stainless steel boards for writing wallet recovery passphrases for water, fire, and physical damage protection.
• The device has an EAL 5+ independent secure element protection; a random number generator; security sensor layers; and a self-destruction mechanism to protect against physical breaking/tampering.
• Size of the credit card. Lightweight and easy to carry around. 1.3′ IPS screen size. The size is 86 by 54 by 6 mm.
• SFP tokens are used by the community for rewards & incentives, community governance, bonus program, to use for fee payments, and discounts.

Pros:

• It’s very affordable and value for money for the features it has.
• Very wide range of crypto supported.
• Buy with Fiat through Simplex.
• Portable – mobile syncing.
• Large screen for easy confirmation.
• Completely air-gapped hence top-notch security.

Cons:

• Complex setup and sending crypto.

Verdict: This is one of the most secure crypto hardware devices for cold storage because it is air-gapped and only communicates with a smartphone device app through QR codes. Thus, it can securely be used for storing, exchanging, and trading large sums of crypto and even confirming transactions offline.

Price: $49

#4) Ledger Nano X

Best for crypto traders, NFT, and DeFi holders.

Ledger Nano X is a more advanced Ledger crypto cold storage device given it supports Bluetooth connection and allows installing 100 apps.

Although this is not the wildest support for cryptos because there are over 6,000 cryptos supported on the same device, it is hard to find anyone holding more than 100 cryptos to run all these apps at the same time unless a group or company.

How to use Ledger Nano X cold storage:

• Connect cold crypto storage to a computer or smartphone via USB-C or OTG. Download, install, and open the Ledger Live. Click/tap the Create a new wallet option or choose to restore your wallet.
• The device will reveal a welcome screen. Use the right or left button to scroll or press both simultaneously to confirm a selection. Use the right or left button to proceed to set up a new Pin code one numeric value at a time while choosing a numeric value by scrolling with the right/left button and confirming by simultaneously pressing both buttons.
• Copy the crypto wallet recovery passphrase and store it. You will need this in case the device is lost or destroyed. Confirm each letter of the passphrase by reentering it in the device one after another using the two buttons for scrolling and confirming.
• Click the two buttons simultaneously to access the dashboard on Ledger Live where you can proceed to add apps from the Manager menu then Add new crypto accounts; or send, receive, exchange, and monitor transactions.

Features:

• Support for NFTs and DeFi apps and tokens. These apps can be installed directly on the device.
• Lightweight – measures 72mm by 18.66 mm by 11.75 mm; weighs 34 g; made of stainless steel and plastic; 100 mAh battery; comes with USB-C cable.
• CC EAL5+ certified.
• In-built cryptocurrency exchange.

Pros:

• 6,000+ cryptos supported. 100 crypto apps.
• Lightweight
• Secure
• Fiat is supported. It allows the buying of cryptocurrencies via popular methods like USD and Euro.

Cons:

• The screen is not touch-enabled and is small in size, making it difficult to operate the cold storage wallet.
• Not suitable for mining crypto.
• Very expensive compared to starter cold storage devices.

Verdict: Ledger Nano X is for advanced crypto users – it supports in-built buying of crypto with or for fiat national currencies but it also integrates an exchange for swapping cryptos. Besides, it is a more secure option for trading crypto.

Price: $149

#5) Exodus

Best for software crypto traders, holders, and stakers needing to earn on their holdings.

Exodus non-custodial software wallet is not ideally a cold crypto storage wallet but supports the integration of Trezor hardware or cold storage crypto wallet.

However, users can still trade, hold, exchange, and buy 225+ cryptocurrencies without Trezor integration. For security-conscious customers, Exodus supports integrating both Trezor One and Model T devices.

Exodus desktop wallet will show Trezor wallet as a portfolio when you sync the two. From there, you can send, receive, and manage crypto directly on Trezor devices.

How to use Exodus cold storage:

• Connect Trezor Model T or Trezor One to your computer using USB-C. The device has a touchscreen to make it easy to select items and type in entries. Download and install the Exodus desktop wallet, then install Trezor Bridge through the Exodus wallet.
• Go to Settings on your Exodus wallet, then Devices, Install Trezor Bridge. A browser opens when you click the Install Now button and then install the bridge.
• Click Update Now on Exodus to update the firmware. Click Create a New Wallet or Restore Wallet and then confirm. Follow the instructions on the screen until there is an option to create a PIN, copy the secret passphrase and confirm it. Click Pair on Exodus to pair both Trezor and Exodus.
• A Trezor portfolio will appear on Exodus allowing you to send, receive, manage, and exchange cryptos from the device.
• Trezor Model T will ask if you can export your watch-only Monero credentials. This applies if pairing an already set up Trezor Model T (Trezor One won’t require this) if it has already been set up. Once exported, you can switch between your Trezor Monero portfolio to send, receive, and exchange Monero the same way as other cryptocurrencies.
• Linking an already set up Trezor device to Monero is easy. All you need is to connect it, enter a passphrase if needed, and click Connect to approve the connection.

Supported Platforms/Operating Systems: Windows, macOS, Linux, iOS, Android, and a browser extension.

Supported Cryptocurrencies: 225+ cryptocurrencies, tokens, and NFTs.

Features:

• Install DeFi apps to extend functionality like staking and exchanging cryptos. Exchanging works by installing the FTX app.
• Buy crypto via credit card, debit card, bank account, and Apple Pay.
• Install and browse other apps.

Pros:

• Cross-platform support.
• 24/7 support
• Fiat purchase supported.
• Easy to integrate hardware wallet Trezor Model T and Trezor One for extra crypto security.

Cons:

• A limited number of cryptos are supported.
• Not all cryptos on Trezor will be supported on the Exodus app.

Verdict: The Exodus app plus Trezor integration provides an extra security option for crypto traders and holders who like to play it safe when buying, selling, and holding cryptocurrencies. Exodus integration provides extra functionality like staking which is not available on Trezor and cold storage which is not available on Exodus.

Price: Free

#6) Mycelium

Best for Bitcoin traders and holders.

Mycelium was originally a Bitcoin-only software wallet only, but today has the Mycelium Entropy USB device that uses hardware-based entropy to generate real-printed Bitcoin paper wallets. It is one of the hardware cold storage wallets to use if you like storing your crypto private keys offline with Bitcoin paper wallets.

Entropy needs to be used on printers that do not have hard drives or those that do not keep a copy of the printed document. Alternatively, and if not sure, cycle the printer’s power before reconnecting it. This clears any image cache left. You can use the Mycelium desktop app to spend on crypto once you have printed the crypto private keys.

Mycelium also supports the integration of Trezor, Ledger, and KeepKey hardware wallets.

How to use Mycelium cold crypto storage wallet:

• Download Mycelium from the Google app store or an apk from the wallet website.
• Connect Mycelium Entropy to a printer that allows you to print pictures from a USB flash drive.
• Select the print option on the printer. It should detect the paper wallet image, then you can hit the print button.
• To print a private key that works like a multi-sig private key with three parts, briefly press the button after connecting the device to the printer. This type of wallet requires authentication in two of the three parts to spend crypto from it.
• It can be connected to a computer and indeed be used to print private keys from there but these may be considered compromised if the computer is or will connect to the Internet afterward.

Connect with Trezor, Ledger, and KeepKey hardware wallets:

• Download Mycelium from the Google app store or an apk from the wallet website.
• Mycelium also supports Trezor, Ledger, and KeepKey hardware wallets. To connect the Trezor, install the Mycelium Android wallet and connect the Trezor to a mobile device using an OTG cable.

Open Mycelium from your mobile device, go to the Accounts tab, select Add a new account, then Advanced, and then Trezor. Enter Trezor Pin and passphrase if needed, and wait for Mycelium to load crypto accounts into Trezor.

You can import a new unused account or choose any from the loaded account, give it a name, and wait for Mycelium to synchronize.

• Mycelium also has a Cold Storage option that can be used to send transactions from Trezor without importing. Connect the device to your phone and tap on this button. Select crypto, and amount, and proceed to finalize the amount.
• To import Watch-Only accounts from Trezor wallet. Go to Accounts from Trezor, the Advanced, and the Scan QR code. Scan the code, give the import a name, and wait for Mycelium to synchronize the account. You can then see the balance, history, and unused receiving address for Trezor on Mycelium.
• To hook Ledger, go to the Accounts tab on Mycelium, then Advanced, and the + button, then select Ledger. Connect it to your phone via OTG, enter your device pin, and select any app from there. This will sync the accounts and allow you to explore them.
• To hook the KeepKey device, follow the steps above and select KeepKey instead of Ledger from the cold storage options.

Features:

• The device measures and weighs. It has a button.
• Various blinking modes indicate the status of the device. Fast means it is busy. Takes 5 seconds to generate a normal wallet and 10 for an HD one. Slow is normal operation. For instance, when the wallet is ready. A series of blinks is a warning or error message (see blink code on the website). Configuration and updates are characterized by slow pulsating and the blinking stops at the end of firmware update or configuration check.
• 2-of-3 Secret Sharing Scheme where the private key is split into three and any two parts can be used to recover it.
• Generates password-encrypted private keys to increase security.
• You can enable and configure to generate and print password-encrypted private keys for different crypto or HD wallets by placing them on Configuration mode. Hold down the button as you insert it into the computer. Confirm that the LED will pulsate and detect the USB device as ME-CONFIG.

Open the settings.txt file on the device. Change the settings in the file in this way – the type of crypto #coin name of the coin and use as many lines as you need to for each crypto type. The rest of the settings are on the Exodus website regarding this.

Pros:

• Lightweight
• Support for 170+ cryptocurrencies. It also supports ERC20 tokens.
• Incorporates an in-built exchange and trading functionality. Uses Glidera API to facilitate crypto trading.
• Support for 4 crypto cold storage devices.
• Glidera allows buying crypto for fiats like USD and Euro via a bank account in the USA and Canada.
• Inter-wallet operability.
• Buying crypto for or with fiat is supported too.

Cons:

• Cold storage is a watch-only wallet.
• Only Bitcoin is supported.
• Mycelium supports the Tor network to mask IP and location.
• Ability to turn off third-party apps.
• Pattern-sniffing protection with a variable keyboard layout.
• Support for HD and Single Address wallets.

Verdict: Mycelium is a great choice for Bitcoin traders and holders who want to deal with more than one crypto. It also supports the integration of four cold crypto storage devices – the wildest support on a software wallet and therefore provides a great option for traders. You do not have to stick to a particular cold wallet to use Mycelium.

Price: Not available

#7) Coinbase

Best for crypto traders, holders, and institutions looking to earn by staking their holdings and investing crypto through brokerages, etc.

Coinbase is one of the crypto exchanges preferred by beginners but also advanced traders and corporates alike. Millions of people in the US utilize it for buying, selling, holding, and trading cryptocurrencies.

Coinbase not only hosts custodial wallets as a custodial exchange but secures its cryptocurrencies in cold storage. It also lets users connect hardware wallets to secure their cryptocurrencies – for instance, to verify transactions when trading.

How to use Coinbase cold storage app:

• Download and install the Coinbase wallet extension on your PC or device browser. Launch the app and select I already have a wallet or Import an existing wallet. Choose Connect Ledger Wallet. Plug the Ledger Nano S or X device into the computer, unlock it with PIN, and click Connect Now on the extension. Choose the detected device. Make sure the Ethereum app is open on the Ledger device. It will show Application is ready. Review and approve the request on the Ledger device.
• You can now send, receive, trade, and manage crypto using both your Coinbase wallet and Ledger hardware wallet, including verifying transactions offline.

Supported Platforms/Operating Systems: Desktop, Android, iOS, and web.

Supported Cryptocurrencies: 1000+ cryptos and tokens on Ethereum, Polygon, Bitcoin, Dogecoin, Litecoin, Stellar Lumens, and Ripple networks.

Features:

• 150+ cryptocurrencies supported on Coinbase. Ledger supports 250+.
• Buy crypto with local currencies like USD, Euro, and others.
• Stake crypto on Coinbase.
• Manage DeFi and NFT tokens.
• Institutional products including custodial services, APIs, and OTC.
• Coinbase supports crypto futures trading, etc.

Pros:

• A diverse range of products in Coinbase and Ledger. This includes institutional products that institutions can find useful for Ledger devices to secure crypto.
• The device is very affordable – $59.
• Ledger Nano X supports storage of up to 100 apps.
• The ledger is portable.

Cons:

• Support for the device firmware update is suspended by the company.
• Ledger Nano X would be needful more than Nano S because the latter supports just six crypto apps maximum. You will need to keep deleting to add more.

Verdict: Integration of Ledger Nano X and S with Coinbase ensures users can improve the security of their cryptocurrencies on Coinbase by keeping their crypto private keys on the hardware or cold wallet storage. Besides, they can utilize that opportunity to get the best of both worlds.

#8) Trezor Model T

Best for advanced crypto traders and holders.

Trezor Model T is another hardware wallet from Trezor company and supports 1,200+ cryptocurrencies. Chip is CE and RoHS secure certified. The hardware wallet works with PCs and desktops or mobile smartphones. It can be connected to the latter through the WebUSB and use the mobile Chrome browser on your device to sync it.

How to use Trezor hardware wallet:

• Connect to the computer via USB or mobile smartphone through the WebUSB. Open the browser and browse trezor.io/start/ link, choose the model from the options, then install Trezor Bridge, and it should recognize the device upon refreshing.
• Create a new wallet, create a backup, copy the passphrase, and confirm the passphrase by entering the passphrase in the device. Set up a new pin.
• You can now use the Trezor app to send, receive, manage, buy with fiat, and exchange cryptos.

Features:

• Size – 2.52 by 1.54 by 0.39 inches; weight is 22 grams.
• U2F Authentication, Trezor Password Manager to lock the password that encrypts the private key. It also implements Shamir Backup for extra security.

Pros:

• Touchscreen eases usage and screen inputs compared to Ledger devices.
• Extra security features – 2F, password, private key on the local device, and Shamir backup.

Cons:

• More expensive – 249 Euros.
• Previous security breaches were reported.

Verdict: Trezor Model T is fully secure hardware or crypto cold storage with extra security features compared to most other cold crypto storage devices but has had successful security penetrations. Feature-wise, it is recommended for beginners as well as advanced traders and crypto holders.

Price: 249 Euros

#9) Atomic Wallet

Best for crypto traders.

The Android and iOS wallet supports 60+ cryptocurrencies for buying, selling, managing, holding/storing, and staking. The advantage of using it is that customers receive a 1% cashback when exchanging cryptocurrencies on the app. You can also buy crypto with credit and debit cards.

How to use Atomic hardware wallet:

• Download and install it on your phone, launch, tap Create a new wallet, or restore it from backup. Set up a password. Copy the passphrase and confirm it by entering it on the app.
• Access send, receive exchange, swap, account history, airdrops, buy, and wallet settings tabs.

Features:

• Non-custodial wallet. Passphrase-based recovery. The private key is also left on the user’s local device.
• Support for NFTs and DeFi tokens.

Pros:

• Easy and quick to set up.
• Exchange crypto for crypto at just 0.5% fees.

Cons:

• No hardware integration. Not a hardware wallet.

Verdict: Atomic Wallet may be easy and quick to set up and use, especially for new beginners, but it falls back to many other mobile wallets and centralized wallets that allow for using a hardware wallet to improve crypto safety and security for those who want it.

Price: Free

FAQs on Cold Wallet

Conclusion

This tutorial discussed the best crypto cold wallets you can rely on to store and manage cryptocurrencies – including huge amounts – safely. The list can be divided into two – software and hardware wallets.

Most hardware wallets have in-built support for storing crypto private keys and protecting them from leaving the device, hence securing crypto stored there.

These cold wallets include Ledger Nano X, Ledger Nano S, Trezor T Model, Trezor One, Ellipal Titan, and Safepal. Mycelium Entropy is used for printing crypto private keys over a printer. We discussed some recommended software wallets that allow you to use these hardware devices – Mycelium, Coinbase, and Exodus.

There have been reports of security breaches against some hardware wallets but those are very limited.

Research Process:

• Total Crypto Cold Wallets reviewed: 17
• Total wallets shortlisted: 9
• Time taken to research and write: 26 hours