When investing in crypto, it is important to ensure that you have fortified security to protect your digital assets and investments. Cyber security is a significant factor that can make or break how secure your digital assets and investments are, so it is essential to choose the right kind of security, even if that means paying slightly more for the protection of your digital assets.
Where you store your digital assets matters, and this is where cold storages come in. According to Bitsoft 360, a reputable crypto news hub, cold storage is offline cryptocurrency storage. Any crypto wallet not connected to the internet is considered cold storage and referred to as a cold wallet. The most common type of cold wallet is a hardware wallet, typically a small device connecting to a computer.
A cold storage wallet is used to keep all of your Bitcoins encrypted in a piece of hardware that resembles a wallet. The data can only be accessed with explicit authorization from the cryptocurrency holder. A hardware wallet, on the other hand, lets you store your encryption keys to access your Bitcoin. A crypto hardware wallet uses hardware to let users access their data only. On the other hand, cold storage wallets require software and hardware authorization, making them far more secure than traditional storage options.
For stronger security regarding your digital assets and investments, it is essential to ensure that you place your cryptocurrency stack in a Bitcoin multisig wallet, so that should one be compromised, you aren’t massively impacted. Compared to placing everything in one wallet where should there be a security breach, you would be defrauded of everything. Security is the most important factor when coming to digital investments and assets.
By holding assets offline using a cold wallet, digital attack threats are nullified, which essentially improves the overall security of your digital assets. Below is a list of top-ranked crypto cold wallets:
Top 5 crypto cold wallets
- Ledger Nano X –
Ledger is the best cold storage wallet in the market and the most popular manufacturer of hardware wallets. Ledger supports Android and iOS systems and allows users to manage, exchange, and buy crypto on the go, as mobile users can use their wallets on their phones. Therefore, if you do not have your laptop on you, you can still trade effectively from your mobile devices.
The Nano X can store over 5,500 different tokens and has enough storage space to simultaneously hold up to 100 different assets. The cold wallet has a built-in Ledger Live App, allowing exchanges and swaps. This makes the app convenient for investors that might need to buy or sell assets at a moment’s notice.
The Nano X is the ultimate best cold storage wallet as it is not only modern and manufactured by a trusted and reputable company but is secure, and allows one to buy, exchange, grow their crypto and manage their NFTs with its Bluetooth-enabled hardware wallet, which allows for all your digital assets to be stored in one place.
- Supports many digital assets.
- Access to Ledger Live.
- In-built exchange.
- Manufactured by a reputable and well-trusted company.
- Supports 5500+ cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, Chainlink, and more.
- Supports both Android and iOS devices.
- Bluetooth enabled.
- Provides storage for 3 to 20 different apps.
- Customer support.
- Not affordable for everyone
- High exchange fees.
2. Trezor –
Trezor is another popular and trusted cold storage wallet and the main competitor to Ledger as they sell similar products. Trezor sells two devices, the Trezor One and the Model T. Both wallets are similar but have distinct differences.
Trezor One does not support a few popular cryptos such as ADA, XRP, XMR, EOS, and XTZ. However, the Model T does. Moreover, the Model T offers expandable storage and can store more assets, whereas the Trezor One does not. Trezor Model T is regarded as the best cold storage wallet for those on a budget and comes with a touch screen feature that is easier for new cryptocurrency users to operate than its previous model. Its simple and light design makes it perfect to use on the go.
- Between $75 and $300, respectively for each device.
- Trusted and reputable manufacturing company.
- Supports more than 1800 cryptocurrencies.
- Network isolated authentication.
- Ultra-secure offline storage.
- Expandable storage (Model T) only.
- Highly secure.
- Easy to set up.
- Available and can be delivered to all countries.
- The small touchscreen can be difficult to type on for some.
3. Ellipal Titan Bundle –
Ellipal Titan Bundle is the best air-gapped cold wallet and the first of its kind in the world. Air-gapped wallets are crypto wallets that are completely disconnected from the internet and any form of wireless communication. This generally means that they are disconnected from traditional internet connections, Bluetooth, WiFi, NFC (near-field communication), and even USB drives. This cold wallet supports both Android and iOS devices.
- Completely air-gapped
- It provides complete protection against remote and online hacks.
- Automatically deletes data should a data breach be detected.
- The hardware is dust-free and waterproof.
- It provides complete network isolation and can never be connected to the internet.
- Supports 41 blockchains.
- Supports more than 10,000 cryptocurrencies.
- Fast and accurate backups.
- Customer support can be quite slow.
- It is quite thick and bulky in size.
With every crypto investment, fortified and unhackable security measures are the most important. Moreover, always ensure that you do not throw all your eggs into one basket. Do not store all your crypto assets and investments in one wallet. Have a variety and use offline storage to protect your assets and passwords.