I’ve been reviewing hardware wallets since 2017 and since then I’ve tried and tested all the popular (and not so popular) brands out there. Today I’m unpacking and doing a breakdown on another market leader in the cold storage sector: Cool Wallet Pro.

Let’s get started.

The CoolWallet Pro, a unique crypto card wallet, boasts a portable design and discreet appearance, making it an excellent on-the-go companion. Let's delve into the details of this innovative hardware wallet. I’m going to examine its features, design, security, compatibility, price and overall user experience. If you’re in the process of researching the best hardware wallets currently on the market, I also published this eBook, where I share my reviews and personal experience with all the top brands. I have reviewed every notable product on the market, so feel free to download it for free from here.

CoolWallet Pro is the latest product, an upgrade to its predecessor, the CoolWallet S. This sleek device emerges as an innovative hardware wallet designed to provide a secure and convenient solution for managing digital assets.

Summary:

• Website: coolwallet
• Battery: 3+ weeks
• Supported Coins: 12,000+
• Connectivity: Bluetooth
• Secure Element: CC EAL6+
• App: yes | iOS & Android
• Seed Phrase: yes | 24 words
• Price: $149

Unboxing and First Impressions:

Upon unboxing, the package includes the CoolWallet card, charger, USB charging cable, a comprehensive getting started guide, and 2 recovery phrase sheets. The card's durability stands out, constructed from thick plastic reminiscent of an ID or bank card. 

Design and Features:

At only 0.8mm thick and 6g light, CoolWallet Pro is designed to fit inside your actual, physical wallet or card holder.
The card features a small e-paper display for basic navigation, a serial number for mobile app pairing, a single-click button, and a charging port. An encrypted Bluetooth connection facilitates communication with the CoolBitX app, allowing users to manage their funds securely. The device exhibits water resistance and tamper-proof qualities. However, caution is advised against complete submersion due to the electronic display, the button, and charging port vulnerability. The wallet can withstand temperatures ranging from -10°C to 60°C.

Security:

As with all hardware wallets, security is above all. The CoolWallet Pro offers exceptional security features. The Secure Element (CC EAL 6+) is a top-tier standard in the hardware wallet industry. This chip ensures the private key never leaves the device. It’s a military-grade data encryption and it’s a huge improvement not only over the previous model (CoolWallet S), but over many other hardware wallet devices on the market, like Ledger Nano S and X (which use EAL 5+) or Trezor, which lacks any SE.
Additional security measures include a user-generated password and biometric authentication.

Functionality and User Experience:

The CoolWallet Pro offers a seamless user experience with its credit card-sized design, like its predecessor, the CoolWallet S.
The device operates with the help of a mobile app via Bluetooth connectivity. The CoolBitX App can be used to send and receive crypto, monitor wallet balances, trade crypto, and view your transaction history and supports screen lock.
A built-in Web3 browser enables exploration of decentralized apps and NFT marketplaces like OpenSea. The app also features a history tab for transaction tracking, and a settings tab for security enhancements.

The wallet offers the ability to create up to five accounts. When receiving and sending, it is possible to switch between these accounts to separate different deposits and expenditures.
Web3 & DeFi Integrations:
A notable feature is the integration with Metamask and other web3 wallets, allowing users to interact with DeFi and various NFT marketplace platforms. The Metamask pairing is done via QR codes and it enables you to navigate your accounts directly from Metamask, offering flexibility to users who prefer the Metamask interface.
In regards to NFTs, a couple of prominent players dominate the marketplace scene. OpenSea and Rarible stand out as leaders, with OpenSea being most popular for Ethereum-based NFTs and Rarible predominantly handling Binance Chain-based tokens. The CoolWallet Pro seamlessly incorporates both of these platforms, offering users a convenient and integrated experience.

Coin and Token Support:

Impressively, this tiny device has support for over 12,000 coins and tokens, across 30+ blockchain networks, including popular ERC-20, BEP-20, TRC-20 tokens, including non-fungible tokens (NFTs). Although NFTs cannot be displayed on the screen of the device, you can interact via web3 wallets via the Wallet Connect feature to connect to leading NFT marketplaces like Rarible or OpenSea and other platforms.

Crucial Information:
Your Recovery Seed is a crucial backup key for all your cryptocurrencies and applications. Remember that the Recovery Seed can be imported into any other device and your funds can be accessed by this method, so it's extremely important not to create a digital copy or upload it online. To ensure its security, store the Recovery Seed in a safe location that is protected against fire and water. Consider using specialized backup products like KeyTag or Ellipal Steel for added durability and peace of mind. It's essential to acknowledge that you are solely responsible for any potential financial losses that may occur due to mishandling your Recovery Seed phrase.

Setup and Firmware Update:

Setting up the CoolWallet Pro involves downloading the CoolBitX app and scanning the QR code in the guide. During initial setup, it's crucial to insert the card into the charger to ensure a full battery. Charging takes approximately 4 hours, and gives it about 3+ weeks of usage. Firmware updates enhance functionality and are initiated by holding the button (the only button there is). This process can take around 5 minutes, with a potential 10-minute duration and it’s very likely that when you first setup the device, you will be prompted to upgrade the firmware, because, most likely, there will be some newly issued upgrades, after the device was manufactured.

Critiques:

Despite its merits, the CoolWallet Pro is not without criticism.
Priced at $150, it faces stiff competition from other hardware wallets in its league, like Keystone, Ellipal, and the crypto card Tangem. However, its unique display and button on the card itself contribute to user-friendliness and portability. The charging cable is micro-usb, a format that seems to be on its way out, a usb-C would be more convenient, I don’t think I have any other devices that still use micro-USB, and the short charging cable is also a minor inconvenience.
More importantly, from customer feedback, I see that the customer support is lacking, which is something I want to see improved. Battery life is another frequent complaint. I haven’t used it heavily to notice this, but other users report shorter battery life than the 3 weeks I mentioned. The device is rather tiny though, so this doesn’t surprise me. Other wallets that use a battery typically hold a charge for more than a month, so this is something that could be improved too in my opinion.

Pros:

On the plus side, ease of use, size, design, security and compatibility with all major blockchain networks are all great features. It’s a portable lightweight device, that can be ideal for day-to-day operations. DeFi and web3 interoperability is certainly an advantage. Additionally, two more devices could be connected to the same CoolWallet account. In this case, the first linked device must always agree to prevent abuse with the wallet (to prevent unauthorized access). This means, easy back-up.

In Conclusion:

CoolWallet's track record since 2015 is commendable. While the CoolWallet S faced a vulnerability in 2020, the Pro model remains ultra-secure. Whether you're a beginner or experienced user, the CoolWallet Pro offers a user-friendly and portable solution, making it a secure choice for safeguarding crypto and digital assets, with added flexibility for web3 and DeFi interoperability. Being priced around $150 dollar mark, it is within the range of its competition, it’s a great value, considering other devices of this category go for $180 and above $200.

If you want to get this device, use my discount code CRYPTOCORNER (at checkout) with this link.

☝These are my opinions, not financial advice, always DYOR.

If you like this post, consider my free eBook: "Best Crypto Wallets" 

It's the perfect guide to help you choose the right wallet for you. All the popular Hot and Cold Wallets are reviewed in this useful guide, most of which I personally use, or have used in the past. Self-custodial and custodial services too.

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⚠️ DISCLAIMER ⚠️

The information contained in this article is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. This content reflects solely my own opinion and analysis.
Purchasing cryptocurrencies poses considerable risk of losses. All information is meant for public awareness and contains what is already in the public domain. Always do your own research!