With the bull market officially underway, making sure your coins are safe should be priority number 1 for you. Below, I've collected 5 storage solutions (in no particular order) that you may be interested in that will help keep your coins safe and sound.
1. Ledger
Currently offering 3 cold storage solutions (the Ledger Nano S Plus, Nano X, and Stax), Ledger has long been a market leader for cold storage.
PROS:
- Intuitive and easy to use
- Capable of securing a multitude of different cryptocurrencies
- Includes the Ledger Live app, which shows up to date valuations for your crypto, as well as the option to buy, exchange or lend crypto as well
CONS:
- Controversy exists over an update that was released which would essentially allow Ledger to extract users' private keys
- Not 100% open-source
- Previously had a hack which exposed user information
2. Trezor
Together with Ledger, arguably one of the 2 most widely used cold wallets currently available on the market today. Trezor also offers 3 cold wallets (the Trezor Model One, Safe 3, and Model T)
PROS:
- 100% open source
- Intuitive and simple design
- Can be used with Tor to further protect identity
CONS:
- Premium model (Model T) is a bit on pricy side at $219 USD
- Potentially vulnerable to physical attacks (i.e. if someone gets a hold of your physical device
- Doesn't offer as many coins as Ledger
3. Bitbox02
Another option getting a lot of attention recently - currently offers 2 cold wallets (Bitcoin-only edition and Multi-coin edition).
PROS:
- 100% Open Source
- Relatively affordable ($149 USD)
- Less code means less attack surface (for its Bitcoin-only edition)
CONS:
- Limited coins available
- Less advanced features such as staking, trade, etc.
- No iOS app support
There exist many other options as well, including ColdCard, KeepKey, and Jade just to name a few. As always with anything crypto related, DO YOUR OWN RESEARCH.
