Cryptocurrencies are becoming increasingly popular. Similarly, the need to keep holdings more safe and secure has never been greater. Since 2018 more than $1 billion worth of altcoins have been stolen as hackers continue with their game.
As chatter about mainstream adoption continues to gather steam, now appears to be the right time to consider the best storage option for one’s investments. When it comes to storage, two possibilities exist: hot or cold.
With hot wallets, people have private keys to the coins stored in an app directly connected to the internet. However, with cold storage, everything is stored offline, devoid of any internet connection.
Unlike hot wallets, cold storage looks like a USB, allowing them to connect to any portal to retrieve the private keys. Some also feature Bluetooth capability enabling easy connection with the device of choice.
Why you need a cold storage
Offline packing facilities stand out partly because they offer full proof of protection of one’s cryptocurrencies. The lack of an internet connection to the private keys makes it impossible to access them without user approval.
Using a cold storage wallet also makes it possible to diversify and spread one’s wealth across various wallets. In this case, one can make it extremely difficult for hackers to trace the activity to a common point.
Ledger Nano X
Here is one of the most dominant and multifunctional cold storages, unlike others offering its support virtually every other altcoin. It operates the same way as a USB drive thus can connect to any device powered by an iOS.
The hardware crypto wallet comes with a Bluetooth connection, consequently allowing people to manage their portfolio from any device, be it a desktop or smartphone. It also features a custom-built OS and Secure Element Chip and boasts security from the national French cybersecurity agency. A 100 mAh battery pack means you can use it for hours before charging.
Additionally, it integrates a Ledger Live software that makes it possible to view all cryptocurrency holdings while on the go. The feature also makes it possible to manage a portfolio and separate wallets caring for various coins.
Ledger Nano S
It is one of the oldest in the game, boasting a solid track record in protecting people’s access codes from hackers. The first generation option comes with all the essential features in Nano X and can work with any existing altcoin.
It stands out as it incorporates two physical buttons for added security. One must press the two buttons when trying to make payments. In addition, one must set up a four-digit pin at the start. The codes can be used to retrieve holdings in case the device is misplaced or physically destroyed.
Additionally, users can make good use of round-the-clock customer service, community support, and secure packing at some of the lowest charges. It also stands out as it offers top-notch security at a fair price backed by a user-friendly interface.
It differs from the Nano given its lack of USB-type connection for connecting to smartphones. Similarly, it does not integrate a Bluetooth option for connection. Its packing limit is capped at 18 compared to 100 wallets for the Nano X.
Trezor T
Trezor T is one of the most expensive cold cryptos stowing facilities, going for about $193. The second-generation option comes with a touchscreen that enables people to enter their preferred accessibility codes and passphrase to the hardware. A MicroSD card slot and a USB Type-C cable compatible with desktop and smartphones are also offered with Trezor T.
The crypto-safe works with all the major operating systems and is compatible with most mobile devices. Users can utilize the MicroSD cards for Pin Encryption. IT stands out from the competition as it offers support to over 1600 cryptocurrencies. It also provides unlimited packing.
The storage integrates a web-based user interface that makes it easy to connect with various exchanges for easy transfer. Trezor T is also Open Source featuring massive community and customer support.
KeepKey
KeepKey hardware is designed to give users complete control of their altcoins. No third party can gain access to private keys stored in it. The hardware features a sleek and modern design. It is easy to use, offering top-notch security measures at customer-friendly prices.
The wallet provides a PIN code and recovery seed that can be used to retrieve crypto holdings if the actual hardware is stolen, lost, or physically damaged. You can switch the access codes from time to time as a security measure to prevent any malware from copying the code or stealing what is stored.
KeepKey is easy to use for stowing as it incorporates only one button for turning on and off. It also comes with a widescreen that makes it possible to see the full address without having to scroll back and forth.
The installation process is pretty easy and straightforward. It is also easy to send and receive assets through the wallet. Going for about $49, it is a bargain for anyone looking to keep their cryptocurrencies offline.
BitBox02
The Swiss-made hardware is rock solid for crypto storage. It combines some of the best elements of Trezor and Ledger to offer one of a kind packing service for coins. By using the ATECC6081 chip, it is extremely secure, faster, and easier to use.
The crypto wallet features a USB-C male connector, making it easy to connect to computers and mobile phones to retrieve its content.
The device features touch sensors that are different from the common touchscreen. The sensors make it easy for people to enable touch gestures. To input a command, you only need to tap, swipe or hold with two fingers. Additionally, it integrates BitBoxAPP, which has few power user tricks designed to enhance security and privacy for transactions on the default app.
