A cold wallet, or offline wallet, is a type of hardware wallet that is not connected to the Internet, making it arguably the safest option to store digital assets. Cold wallets are designed to hold a user’s private key, a critical piece of information that provides exclusive access to one’s crypto, as well as their address, a string of numbers, and letters used to perform transactions with other users.
Most cold wallets also come with their own software that lets users manage their holdings and connect with third-party crypto apps, such as exchanges, non-fungible token (NFT) marketplaces, and staking services.
However, not all cold wallets are created equal; some are made by not-so-reputable companies while others are too difficult to set up for the average user. Hence, we made a list of the best cold wallets of 2022 to help you select the right one that fits your needs and level of expertise.
Top 5 Cold Wallets of 2022
Ledger Nano X
Ledger Nano X is a second-generation hardware wallet made by Ledger that allows users to store and manage their digital asset holdings securely thanks to its proprietary security technology that enables users to perform transactions securely, even in cases where devices may be malware-infected.
The cold wallet also has mobile integration, allowing users to view and manage their wallets their Android and iOS devices, and supports more than 5,500 coins and tokens, as well as be able to install up to 100 apps through Ledger Live, enabling owners to access decentralized finance (DeFi) applications and non-fungible token (NFT) dapps.
The Nano X also allows users to natively stake coins on in-wallet, including ETH, SOL, etc.
The wallet’s dimensions are 72mm x 18.6mm x 11.75mm and only weighs about 34g, powered by a lithium-ion battery with a capacity of 100mAh.
It can also be purchased with an on-the-go cable set kit, which has USB-C and USB-A cables needed to connect to Android and iOS devices, for an additional price.
| PROS | CONS |
| Compatible with a smartphone or tablet Supports a wide range of tokens Up to 100 apps installed concurrently PIN code requirement and self-destruct feature Transactions are secured by physical confirmation through the device Built by one of the leading crypto storage solutions providers in the market | Quite expensive compared to other brands |
Trezor Model T
Trezor Model T is a second-generation cold wallet designed by Trezor that allows users to securely store and manage their holdings, as well as access third-party exchanges from its proprietary Trezor online interface, while supporting touch screen functionality.
The Model T supports more than 1,200 coins and tokens, as the wallet is designed for optimum security since the private keys generated are designed to never leave the device, making such details inaccessible to malware attacks.
The wallet’s dimensions are 64mm x 39mm x 10mm and only weighs about 22g.
| PROS | CONS |
| Beginner-friendly Safe from keyloggers because PIN entry can be done through the device’s touchscreen and passphrase functionality Powered by Trezor’s proprietary security infrastructure | Quite expensive compared to other brands Relatively low number of supported coins/tokens Does not support iOS yet |
Ledger Nano S
Ledger Nano S is an affordable but very functional lightweight cold wallet made for anyone who wants to store their crypto securely. It can support the storage of more than 1,800 coins and tokens as well.
The wallet’s dimensions are 104mm x 58mm x 5mm and only weighs about 16.2g.
| PROS | CONS |
| Very affordable Beginner-friendlyPIN code requirement and self-destruct feature Transactions are secured by physical confirmation through the device Supports a wide range of tokens | Small storage size means it can only install up to 3 apps Does not support iOS yet |
CoolWallet Pro
CoolWallet Pro is a card-like, lightweight cold wallet designed for DeFi users that supports a wide range of assets, including ERC-20, BEP-20, TRC20, and other types of tokens. It can be used to hold, manage, and perform cryptocurrency transactions. The platform also has its own native app called CoolBitX, which can be linked to hardware wallets and is compatible with Android and iOS devices via Bluetooth.
Its two-factor authentication (2FA) feature ensures security when linking to mobile devices. CoolWallet Pro’s card also utilizes a CC EAL 6++ military-grade security chip that secures it from tampering.
It can be used to stake on networks such as Cosmos (ATOM), Tron (TRX), Polkadot (DOT), and other assets.
The wallet is like your standard credit card and is only 0.8 mm thick, weighing 6g. It is also tamper-proof and waterproof.
| PROS | CONS |
| Reasonably priced Slim, card-like design makes it easy to use Supports most popular tokens NFT integration | Coins and tokens supported are limited Options for supported tokens on staking is limited Less security layers due to absence of PIN requirements |
Safepal S1
SafePal S1 is an affordable option for cold wallets designed to support coins and tokens from 19 blockchains, as well as NFTs. And while it is made to be beginner-friendly, it still keeps an eye on security and reliability.
It lets users manage their holdings with the ability to use multiple security elements, such as recovery seed phrases, 2FA functions, and PIN codes. The chip for private key storage is also designed according to EAL5+ standards, automated to trigger key deletion and self-destruct when hacked.
An additional feature you’ll see in SafePal is its own utility token, the SFP token, which runs on the BNB Chain and can be used to pay for platform fees, get discounts on SafePal products, and earn passive income through staking.
SFP holders can also vote on potential addition of features and initiate proposals for SafePal’s products and services.
| PROS | CONS |
| Most cost-effective wallet Beginner-friendly Hack and tamper-proof Compatible with other hardware wallets Has its own utility token | Coins and tokens supported are limited No WiFi and Bluetooth support |
Conclusion
Whether you opt for the state-of-the-art Ledger Nano X or the more affordable SafePal S1, the right cold wallet depends on the type of user you are. If you’re someone who holds massive amounts of tokens, then we recommend going for the most high-end, but if you’re new to crypto and just want a decent hardware wallet without breaking bank, then the other options should be more appealing.
Just remember that security should be your priority, especially in the crypto market where scammers and hackers lurk in every corner. Best of luck!
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