A cold storage wallet is essential for the maximum security of your digital assets. Among the best cold wallets available, the Trezor Model One is our top choice in 2024 due to its simplicity and trusted protection.
Following is our full list of the best hardware wallets in the crypto space, each offering unique features tailored to different needs.
Trezor Model One Review
- Supports 1,800+ cryptocurrencies, including top coins.
- Offers PIN protection and offline private key storage.
- Budget-friendly, perfect for beginners.
A quick look at the best cold wallets for crypto
Explore the best crypto cold storage wallets available in 2024. Each is designed to offer maximum security and unique features for diverse needs.
- Trezor Model One – A secure, entry-level hardware wallet with a straightforward interface, ideal for beginners in crypto cold storage.
- Trezor Model T – Advanced with a full-color touchscreen, the Trezor Model T combines ease of use with top-notch security for multiple cryptocurrencies.
- Cypherock X1 – This unique storage wallet uses Shamir Secret Sharing to split private keys across four cards, elevating crypto asset security.
- Ledger Stax – A premium Bluetooth-enabled wallet featuring wireless charging and a customizable display, perfect for those seeking convenience.
- ELLIPAL Titan 2.0 – Completely air-gapped with QR verification, this wallet is built for security, immune to online attacks.
- Blockstream Jade – Focused on Bitcoin, this wallet uses air-gapped technology for offline transactions and maximum asset protection.
- ColdCard Mk4 – Known for its top-level security, ColdCard Mk4 is a Bitcoin-only wallet with air-gap support for the highest offline protection.
- BitBox02 – A compact cold wallet offering USB-C compatibility, suitable for users prioritizing ease of use in cold storage wallets.
- SafePal S1 – Affordable and secure, this wallet supports over 10,000 cryptocurrencies and enables air-gapped signing for increased security.
- Keystone – Biometric security with fingerprint access and a robust design, Keystone offers advanced security features for serious crypto investors
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How we choose the best cold wallets
The key considerations for identifying the best cold storage wallets for crypto cold storage were advanced security features, ease of use, compatibility with various cryptocurrencies, and cost-effectiveness.
Each physical device featured on our list is equipped with high-level security measures to keep the private keys offline. It also offers a suite of functionalities that suit both beginner and advanced users in storing and managing cryptocurrency.
A closer look at the best cold storage wallets in 2024
Here is a closer look at the top five cold storage wallets, with full details of the unique features that each has to offer.
1. Trezor Model One – The best entry-level wallet for beginners
Why Trezor Model One is one of the best cold wallets
Trezor Model One is our pick for the best cold wallet for beginners. The wallet brings high security to the table while having an intuitive design that allows it to be friendly to beginners without compromising on protection.
This crypto hardware wallet has a pretty affordable means of entry into the crypto-cold storage market and possesses numerous digital assets.
Overview of Trezor Model One
Since its launch in 2013, the Trezor Model One wallet has had an excellent track record as a trusted hardware wallet for crypto storage.
This PIN-protected device helps secure private keys, reducing vulnerability to online attacks. It also supports over 1,800 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
The interface is super basic, with just two physical buttons instead of a touchscreen. Despite this, transactions and a range of other actions are easily completed.
This hardware cold wallet is also compact, utilizing secure elements for additional security. Backup and recovery are possible through a recovery seed.
Model One is perfect for users who want maximum security in an easy-to-use package without advanced features.
Pros and cons of Trezor Model One
Pros
- Supports over 1,800 cryptocurrencies, including major coins
- PIN code protection and offline storage for private keys
- Affordable, making it ideal for beginners
- User-friendly with a simple two-button interface
- Provides backup and recovery with a secure recovery seed
Cons:
- Lacks a touchscreen for easier navigation
- Limited support for decentralized apps
2. Trezor Model T – The best for enhanced usability
Why Trezor Model T is one of the best cold wallets
The Trezor Model T is oriented for those users who appreciate the ease of use with extended security functions, including a full-color touchscreen for easy navigation.
This crypto hardware wallet supports the majority of digital assets, totaling in the thousands, and is ideal for a diversified portfolio with high security.
Overview of Trezor Model T
The Trezor Model T is a high-end cryptocurrency wallet that merges usability and security. Its 240×240-pixel color touchscreen makes interactions more intuitive.
This wallet is a rare breed of cold storage solutions that offer ease of setup and integration into Trezor Suite, an all-inclusive portfolio management platform. For that reason, it supports upwards of 1,000 different digital assets.
Unlike many cold storage wallets, the Trezor Model T incorporates the added protection of a passphrase, providing an additional layer of private key security. This feature, combined with advanced dApp support and integrations with major platforms, makes Model T a great fit for crypto enthusiasts and serious investors who need maximum security and functionality.
Pros and Cons of Trezor Model T
Pros
- User-friendly touchscreen simplifies navigation
- Supports over 1,000 cryptocurrencies, including major coins and tokens
- Advanced passphrase protection for added security
- Seamless integration with Trezor Suite for easy management
- Excellent for crypto cold storage with high-security features
Cons:
- Higher price point compared to entry-level models
- Bulkier than some other cold storage wallets
3. Cypherock – The best cold wallet for maximum security
Why Cypherock is one of the best cold wallets
Cypherock X1 offers unparalleled security through the Shamir Secret Sharing protocol- an incredibly unique protocol without a recovery phrase.
It is among those wallets that enable users maximum security for high-value and long-term crypto storage.
Overview of Cypherock
The Cypherock X1 uses four microSD cards, each containing a fragment of the private key, ensuring that there is no single point of failure.
Shamir’s Secret Sharing technology enables every card to hold parts of the private keys, which can be stored in different locations, thus achieving enhanced physical security. In case one of the cards gets lost, that is no hassle since users can use the remaining three to access their funds, thus minimizing risks during recovery when compared to a standard cold storage wallet.
It can also support more than 10,000 digital assets across multiple blockchains, giving flexibility to varied cryptocurrency portfolios. The wallet itself is PIN-protected, meaning that even if one card is compromised, it is unusable without access to the remaining cards and the PIN.
Cypherock is a flawless cold storage wallet for advanced users seeking crypto cold storage above and beyond ordinary security features. However, reliance on desktop applications and somewhat high prices might reduce accessibility for some users.
Pros and cons of Cypherock X1
Pros
- Shamir Secret Sharing technology for secure key distribution
- No need for a single recovery phase, reducing theft risks
- Supports over 10,000 cryptocurrencies, making it highly versatile
- Multi-layer security via PIN and card-based key fragments
- Suitable for large crypto holdings with added crypto security
Cons:
- Higher price point compared to entry-level wallets
- Primarily compatible with desktop apps, lacking mobile support
4. Ledger Stax – The best premium cold wallet with Bluetooth
Why Ledger Stax is one of the best cold wallets
By offering advanced features and the highest level of security in cold storage, Ledger Stax is a premium option for those looking for convenience and protection for their assets.
Advanced Bluetooth connectivity and a sleek touchscreen interface make this hardware wallet convenient but not at the expense of security. It is ideal for advanced users who usually have large crypto portfolios to manage.
Overview of Ledger Stax
Ledger Stax is a high-end cold wallet that perfectly blends innovation and security. It is feature-filled and has an OLED touchscreen that makes it very easy to operate. Wireless charging further simplifies the user experience, as one doesn’t have to go through the hassle of charging this device for a transaction.
The Ledger Stax also connects with the Ledger Live application via Bluetooth, allowing users to track and manage their digital assets without using physical connections like USB drives. The Ledger Stax itself supports more than 5,000 cryptocurrencies, providing great compatibility for tokens and coins in general.
Security-wise, the Stax has been fitted with an ANSSI-certified secure element chip for maximum protection of private keys against cyber threats. It also allows seamless integration with dApps, thus enabling users to access decentralized applications right from their wallets.
Although a bit more expensive and somewhat bulkier than the most basic wallets, Ledger Stax is one of the better options for users wanting new features and increased ease of use from a cold wallet.
Pros and cons of Ledger Stax
Pros
- Bluetooth connectivity for wireless asset management
- OLED touchscreen for user-friendly navigation
- Supports over 5,000 cryptocurrencies and dApps
- Secure element certified by ANSSI for top-tier security
- Wireless charging for added convenience
Cons:
- Premium pricing compared to standard models
- Larger in size, which may affect portability
5. ELLIPAL Titan 2.0– The best cold wallet for air-gapped security
Why ELLIPAL Titan is one of the best cold wallets
ELLIPAL Titan 2.0 is a godsend for those who need air-gapped security and the assurance of complete protection offline.
It features unique QR-based transaction verification that keeps it completely isolated from networks, protecting users with powerful protection against online attacks and cyber threats.
Overview of ELLIPAL Titan 2.0
ELLIPAL Titan 2.0 is a bit different from other cold wallets, as it is air-gapped and fully disconnected from Wi-Fi, Bluetooth, and USB connections. Instead, it uses QR codes for the safe signing of transactions, with private keys staying offline and out of the reach of any potential hacker.
This wallet also features waterproof and dustproof design elements and a hard metal casing that withstands tough conditions. This makes it suitable for users seeking resilient and long-lasting storage of their digital assets.
More than 10,000 cryptocurrencies are supported, making it a flexible means of maintaining diversified portfolios. Moreover, its large 4-inch touchscreen allows for smooth navigation and asset monitoring, and it supports staking and dApps on some select cryptocurrencies.
ELLIPAL Titan 2.0 is a surefire option for those who want the utmost security in form and substance: physically resilient and a secure vault of cold wallet keys. However, this setup might not be as slick as other hardware wallets, as it is larger and depends on QR code verification.
Pros and cons of ELLIPAL Titan 2.0
Pros
- Fully air-gapped design for high security
- Supports staking and dApps on select cryptocurrencies
- Rugged, waterproof, and dustproof construction
- Large, easy-to-use 4-inch touchscreen
- Compatible with over 10,000 cryptocurrencies
Cons:
- Bulkier than some other cold wallets
- QR code-based verification may be time-consuming
If you value security and privacy regarding your crypto, check out our guide to the best anonymous crypto wallets.
What is a cold wallet?
A cold wallet is an offline crypto storage device that entirely secures one’s private keys offline. This reduces exposure to online risks, such as hacking and phishing. Thus, it is suitable for long-term digital asset storage, especially among users who plan to keep larger sums of cryptocurrencies.
Cold wallets are a preferred choice for those prioritizing maximum security over frequent access.
How do cold crypto wallets work?
In most cases, cold wallets operate on the principle of keeping private keys offline within a hardware device.
Users send money by connecting the cold wallet to a computer or mobile device and signing transactions through the device when they occur, but they don’t expose private keys to the online world.
The wallet’s PIN and other security features ensure that only authorized users can access funds, keeping them safe from possible online attacks.
For a deeper understanding of their functionality and types, see our article on everything you need to know about cold wallets.
Types of cold storage wallets
| Wallet type | Description | Examples |
| Hardware Wallets | Devices that store private keys offline | Trezor, Ledger |
| Paper Wallets | Printed private keys on paper | Generated from a web tool such as bitcoinpaperwallet.io or paperwalleth.com |
| Sound Wallets | Audio files with encrypted private keys | Experimental audio-based wallets in different formats (CD, vinyl, mp3, etc.) |
| Deep Cold Storage | Multi-layered, high-security storage for high-value assets | Bank vaults, physical safes |
Pros and cons of cold wallets
Cold wallets, or solutions for cold storage, boast advanced security features that will work perfectly for significant crypto holdings. Yet, their specific construction and offline status have not only considerable advantages but also some significant drawbacks in practice.
Here’s a closer look at the pros and cons of using a cold wallet.
Pros
- High security for digital assets: By design, cold wallets are offline, hence minimizing the possibility of exposure to online risks, such as hacking and phishing attacks. Such wallets create a secure environment by storing private keys offline, shielding assets from possible cyber threats and unauthorized access faced by online wallets.
- Perfect for long-term storage: Ideal for those holding crypto as a long-term investment, cold wallets provide a secure solution for storing large amounts of digital assets over time. Since it is an offline setup, you needn’t bother about online volatility or unexpected changes in access
- Complete control over private keys: In a cold wallet, one possesses total ownership and custody over their keys instead of keeping them with some online wallets or exchanges. The fact that cold wallets are self-custodial provides greater autonomy and security since the owner may exclusively access the funds.
- Advanced security features and backup options: Most cold crypto wallets have advanced security features like PIN codes, secure elements, and multi-layered encryption for added security. These features are further enhanced by backup and recovery methods, such as recovery phrases or Shamir Secret Sharing, that add an extra layer of safety, allowing users to recover their funds in case the wallet is lost or damaged.
- Broad compatibility with various cryptocurrencies: Most cold wallets have a huge list of supported cryptocurrencies, including the biggest assets and many altcoins. This makes it much more convenient for investors with diversified portfolios who want to keep a few types of crypto in one safe place.
Cons:
- Less suitable for frequent transactions: As cold wallets go offline, they would not be very convenient for daily trading or frequent transactions. To access funds, users should connect the wallet with some device; such actions may be less time-consuming and not practical for people who frequently move or trade crypto.
- Higher initial investment cost: Most hardware wallets, one of the popular forms of cold storage, have relatively higher price points than free or lower-cost hot wallets. This may be a barrier for new investors or those with smaller portfolios, though it is well worth the investment for those holding sizable assets.
- Learning curve for setup: Setting up cold storage is inconvenient, especially for beginners. In general, such a process includes private key management, the making of a recovery phrase, and going through other security features available. This learning curve can be steep because users must pay attention to set-up instructions for complete security.
- Potential physical risks: Cold wallets are physical devices that can be damaged, lost, or even stolen. Therefore, you should keep them in a place safe from physical threats. Users are also supposed to make backup plans so that if such a device is damaged, their assets are still accessible.
Hot wallets or cold wallets — Which one is right for you?
| Feature | Hot wallets | Cold wallets |
| Purpose | Frequent trading and accessibility | Long-term, high-security storage |
| Security | Moderate security | High security |
| Storage | Online storage | Offline storage |
| Connectivity | Physical connection to a smartphone or computer | Connected to the internet via app or software |
| Recovery | With seed phrase | With seed phrase and access to the hardware wallet |
| Price | Free or low-cost | Costly, from $40 in advance |
Key takeaway: Choose a cold wallet for high-value assets you want to store securely and keep long-term. Opt for a hot wallet if you need frequent access or plan to trade regularly.
How to set up a cold wallet
Setting up a cold wallet is pretty simple. We’ll use the Trezor Model One as an example to guide you through the process.
Although each cold wallet has unique features, setting them up will be similar in most cases.
- Purchase the hardware wallet from the official website: It’s recommended that you always buy a cold wallet directly from an official website or a verified retailer. Otherwise, you might end up with a counterfeit device that could compromise your assets. Visit the Trezor website to purchase the Trezor model one.
- Install wallet software on your computer: Most cold wallets require the installation of dedicated software on your computer for managing your assets. Ledger, for example, is Ledger Live, and Trezor’s software is Trezor Suite. Download and install Trezor Suite from the official website, as it will guide you through setting up the wallet, managing your assets, and signing transactions.
- Set up a secure PIN code on the device: During the setup, you are asked to create a secure PIN code on your Trezor device to protect physical access to your wallet. The same PIN protection code will be required whenever you want toaccessyour wallet. Make a combination that is unique to you; remember, no one should easily guess it.
- Back up your recovery seed phrase: The most important part of setting up a cold wallet is recovering a seed phrase. Trezor provides you with a 24-word seed phrase during the setup, and you can restore access when your device gets lost or damaged. Make sure to write down your seed phrase and store it somewhere safe, offline, and secure. Never save it digitally. This backup step is critical, as this seed phrase is the only possible recovery if something happens to your wallet.
- Transfer crypto assets to your cold wallet: Once set up, transfer your crypto from an exchange or hot wallet to your Trezor. For this, you will connect the wallet to your computer. This is because, in a cold wallet like Trezor, the private keys are kept offline during every transaction. Thus, it allows for secure crypto storage since important information is kept off the internet.
Methodology — How we choose the best cold storage wallets
We went through each cold storage wallet, considering factors that matter most to currency users to ensure our recommendations ensure the best quality, balancing security and usability.
Let’s dive deeper into each of the aspects evaluated:
- Security: This is our main concern when reviewing cold wallets. We’ve reviewed each wallet for encryption standards, two-factor authentication, element technology, and whether they were air-gapped devices that keep private keys offline, far from online threats. Wallets with high ratings have high-level security certifications, such as ANSSI certification, since they proved reliable against any malicious action initiated online.
- Ease of use: Cold wallets can sometimes be overwhelming, so we tested the user interface and ease of navigation with each wallet. The less intimidating setup processes, more intuitive software, and more user-friendly design greatly impact a user’s experience, especially those who are new to crypto. Wallets offering clear tutorials, in addition to dedicated software like Trezor Suite, scored higher in this category.
- Asset compatibility: Since most investors have many portfolios, we have been particularly cautious in searching for wallets that support various digital assets, including emerging assets and NFTs. In this regard, the cold wallet, which supports up to several thousand varieties of digital assets, provides greater flexibility by allowing users to keep multiple varieties of coins safely in one place.
If you’re looking to store a wide array of Ethereum-based tokens, our best ERC20 wallets guide offers additional options tailored to support Ethereum tokens. - Cost and value for money: We pitted the upfront costs against the features provided because hardware wallets are a relatively major investment. Wallets that can balance great security, compatibility, and user support scored highly in terms of value. Premium wallets carrying advanced features like wireless charging and Bluetooth also needed to balance their price by way of added convenience and functionality.
- Brand reputation and user reviews: Brand reputation is very significant, especially in the crypto world. We reviewed user feedback, brand history, and trustworthiness, prioritizing wallets from companies with a great track record in crypto security. Wallets with positive user reviews for customer support and reliability were preferred because they would provide the best user experience and peace of mind.
- Connectivity options: The connectivity options range from wallet to wallet. Some offer only USB connections, while others also offer Bluetooth and QR code scanning. We liked wallets with more connection options that make using them convenient without sacrificing security. Similarly, Air-gapped wallets with QR code verifications are rated highly for enhanced security in keeping themselves isolated from the internet.
- Backup and recovery options: Wallets with strong backup options ranked highly since recovery is important if a device is lost or damaged. Cold storage wallet with good seed phrase backup options or other recovery techniques, such as Shamir Secret Sharing, ranked higher since this would give users a secure way to regain access to their crypto assets.
Conclusion — Choosing the best hardware wallet for your needs
Cold wallets remain the most secure option for long-term digital asset storage. Having reviewed a variety of the top options in this space, the Trezor Model One stands out for its excellent price and strong security features.
However, advanced users might prefer the feature-rich Ledger Stax or Trezor Model T, which add conveniences like touchscreens and Bluetooth, in addition to broader compatibility with different assets.
Merging one of these hardware wallets with hot wallets will provide the perfect balance of accessibility and security.
