How to choose a cold wallet that suits you?

Choose a cold wallet prioritizing security (AES encryption, secure chip, multi-signature), ease of use, compatibility with your cryptocurrencies, and reputable brands like Ledger or Trezor. Consider price, backup options, and additional features before buying from authorized sources.

Feb 28, 2025 at 02:34 pm

• Security first : Security is the core of cold wallets. Priority is given to those using advanced encryption technologies, such as AES encryption algorithms. Check whether there are security chips, such as Ledger's built-in chips that are tamper-proof private keys. It also depends on whether it supports multiple signatures and multiple private key authorization transactions to reduce the risk of stolen.

• Consider ease of use : ease of use is crucial for beginners. The operation process should be simple, and the steps such as setting up a wallet and transfer are easy to get started. It is best to have a clear user interface, such as the Trezor Model T's touch screen, which has intuitive interactions. You can also refer to other user reviews to understand the actual usage experience.

• Confirm compatibility : If you hold multiple digital currencies, you should choose a cold wallet with good compatibility. Like Ledger Nano S/X supports over 1500 cryptocurrencies. Check the official wallet website to clarify the list of supported currencies to ensure that they match your assets.

• Pay attention to brand reputation : choose a well-known brand, which has strong R&D capabilities and complete safety measures. For example, Ledger and Trezor have a deep roots in the industry and have a good reputation. You can search online for brand history, user feedback and whether there are any security breaches to assist in judgment.

• Evaluation price : The price of cold wallet varies by brand and function. There are many from dozens of yuan to thousands of yuan. For example, Digital Bitbox is cheaper and high-end products are expensive. Choose according to your budget, don’t just look at the price, and balance safety and cost.

• Check backup and recovery function : It requires a simple and reliable backup and recovery mechanism. Mnemonics generated when creating a wallet must be saved properly. The recovery process should be convenient, and follow the steps to quickly retrieve assets and ensure the safety of funds.

• Watch out for extra features : Some cold wallets have extra features such as Bluetooth connectivity, such as the Ledger Nano X that can easily interact with your phone. With the function of managing multiple accounts, it is convenient to manage digital assets for different purposes and can be selected on demand.

• Choose a formal purchasing channel : To ensure product quality and safety, purchase from official websites and authorized dealers. Avoid informal channels to prevent buying counterfeit goods or tampered with products, threatening asset security.

• Specific analysis of hardware wallets : Hardware wallets are a common type of cold wallets. Ledger Nano S is cost-effective and suitable for beginners. It supports many mainstream currencies, but has limited storage capacity. Ledger Nano X has more complete functions, with Bluetooth and large storage, but it is more expensive. Trezor Model T is easy to operate and has excellent safety performance.

• Features of paper wallet : Paper wallet prints private keys and public keys on paper, which are low in cost and high in security. However, it is inconvenient to carry, easy to damage and lose, and is suitable for large-scale assets that are stored for a long time and are not frequently operated. Pay attention to proper storage when using it.

• Offline computer wallet situation : Use a computer that does not have a network connection to generate and store keys, which is extremely secure. However, it requires professional knowledge, complex operation, suitable for users with strong technical capabilities and strict security requirements to store a large number of digital assets.

• In combination with your own needs : If transactions are frequent, choose a hardware wallet that is convenient to operate and fast to respond. If you store large amounts of assets for a long time and have high security requirements, you can consider a hardware wallet or a paper wallet. If there are multiple digital currencies, focus on compatibility.