The CoolWallet Pro - A Comprehensive Cryptocurrency Hardware Wallet Review

By Disguycrypto | Wallet Review | 20 May 2024


In the constantly changing realm of cryptocurrencies, where digital assets are extremely valuable, having a safe and dependable method to store and handle your money is now crucial. Of all the wallet alternatives available, today we look into the CoolWallet Pro, which is trying to disrupt the industry.

Imagine a wallet that combines an extensive range of supported cryptocurrencies and unparalleled convenience, all packed into a sleek, credit card-sized device. The CoolWallet Pro is precisely that - a hardware wallet that redefines the way we interact with our digital assets.

But what sets the CoolWallet Pro apart from the rest? Let's get into its remarkable features and discover why it has become a go-to choice for crypto enthusiasts worldwide.

CoolWallet Pro Overview

Disclaimer: While I have received a test unit of the wallet from the company for review purposes, all opinions and observations shared in this review are entirely my own and have not been influenced by any external parties. Additionally, it's important to note that the information provided regarding the security features is based on my research and understanding, but I am not an expert in security. Therefore, readers are encouraged to form their own opinions and assessments regarding the security measures of the wallet. Furthermore, it should be emphasized that my review is primarily based on the direct interaction with the wallet itself.

The CoolWallet Pro is an upgrade to its predecessor, the CoolWallet S. The CoolWallet Pro is an exceptional hardware wallet offering impressive cryptocurrency support. With over 12,000+ coins and tokens across 35+ blockchains, including popular options like Ethereum, Bitcoin, and Solana, it ensures that users can securely store and manage their diverse crypto assets all in one place.

Security is a top priority with the CoolWallet Pro, featuring an EAL6+ Secure Element chip and AES-256 encrypted Bluetooth for seamless and protected data transfer. The wallet's sleek credit card size, waterproof design, and compatibility with both Android and iOS platforms make it an incredibly convenient option for crypto enthusiasts on the go.

But it doesn't stop there. The CoolWallet Pro goes beyond just storing and managing cryptocurrencies. It empowers users with native staking services for popular coins like ETH, SOL, ATOM, XTZ, and ADA, allowing them to earn passive income directly from their wallet. Additionally, it offers seamless swapping, buying, and tracking of assets, as well as a built-in Web3 browser for an enhanced Dapp and NFT experience.

Not only is the CoolWallet Pro highly functional, but it also boasts an ultra-thin and lightweight design, making it the ultimate on-the-go companion for crypto enthusiasts. With its long-lasting battery life and easy charging, users can enjoy peace of mind knowing their assets are secure and accessible whenever they need them.

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Pros and Cons

The pros and cons of the CoolWallet Pro, exploring its advanced features, user-friendly design, and potential drawbacks. These are the CoolWallet Pro's strengths and weaknesses, helping you make an informed decision about whether this hardware wallet is the right choice for your crypto needs.

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PROS

1. Compact and Portable Design

Mimicking the size of a credit card, the CoolWallet Pro fits easily into a wallet or pocket, making it convenient for everyday carry.

2. Wide Cryptocurrency Support

Supports over 5000+ coins, including the ability to stake ERC20 tokens directly from the device. It caters to a broad range of popular and emerging cryptocurrencies.The wallet supports over 150 officially recognized tokens, including ERC-20, TRC-20, and BEP-20 tokens, as well as NFTs.

3. Integrated Functionality

Offers in-app features like buying crypto, Binance DEX, WalletConnect, token-to-token exchange, and more, facilitating support for DeFi protocols, NFTs, DApps, airdrops, and other crypto services.

4. Ease of Use

The wallet pairs with a mobile app for Android and iOS, making it easy to manage cryptocurrency holdings. The setup process is straightforward, and the monochrome e-paper display provides clear transaction and connection information.

5. NFT Storage and Trading

I also think that this is the first hardware wallet to support in-app NFT trading, providing convenience and secure transactions for NFT enthusiasts.

Cons

1. Battery Life

Requires charging, and while the battery can last around two weeks with regular use, this might be inconvenient for some users compared to non-battery-operated hardware wallets.

2. Limited Physical Interface

The wallet’s reliance on a mobile app for most functionalities due to its compact design might be seen as a limitation for users who prefer direct interaction with their hardware wallet.

3. Lack of Live Customer Support

Some users have reported a lack of live customer support, which may be a drawback for those needing immediate assistance.

Beginner Perspective

The CoolWallet Pro is designed to be safe and user-friendly, making it an excellent choice for beginners in the cryptocurrency space. Here are a few reasons why it's suitable for beginners:

With features like the EAL6+ Secure Element (SE) chip and encrypted Bluetooth connectivity, the CoolWallet Pro offers a level of security, protecting users' assets from potential threats. Its credit card-sized design and waterproof, tamper-proof construction make it a convenient and durable option for everyday use. Beginners will appreciate the ability to easily carry their wallet with them and manage their crypto assets whenever and wherever they want.

The wallet's support for a wide range of cryptocurrencies, built-in crypto purchase and exchange services, native staking services, and a built-in Web3 browser for interacting with DeFi and NFT projects make it a versatile tool. This allows beginners to explore various aspects of the cryptocurrency ecosystem within a single, secure platform. 

Best Features

These features collectively make the CoolWallet Pro a highly secure, convenient, and versatile option for cryptocurrency enthusiasts looking to manage their assets with ease and assurance.

  • Convenience and Mobility: Its credit card-sized design makes it ultra-portable and convenient, allowing you to manage your crypto assets safely and discreetly, anytime and anywhere.
  • Multi-Coin Support: It supports a wide array of cryptocurrencies, allowing for flexibility in managing a diverse portfolio.
  • Feature-Rich App: The accompanying mobile app supports both Android and iOS platforms, providing a seamless interface for sending, receiving, and tracking your cryptocurrency assets. 
  • Functionality for DeFi and NFTs: The wallet facilitates built-in crypto purchase and exchange services, native staking services for popular cryptocurrencies like ETH, SOL, ATOM, XTZ, and ADA, and a built-in Web3 browser for interacting with DeFi, GameFi, NFT projects, and more.
  • Waterproof and Tamper-proof: The CoolWallet Pro is designed to withstand everyday challenges, ensuring your crypto assets are safe in various conditions.

Currencies Supported

The CoolWallet Pro supports over 12,000+ coins/tokens across 35+ blockchains. For example:

  • All ERC-20 tokens, including those on Arbitrum and Polygon
  • BEP-20
  • TRC-20 customized tokens
  • All ERC-721, ERC-1155 NFT tokens

Additionally, the wallet provides native staking services for popular coins such as ETH, SOL, ATOM, XTZ, and ADA.

Is the CoolWallet Pro safe to use?

The CoolWallet Pro is designed with several advanced features that make it a safer option for storing and managing cryptocurrencies compared to traditional hot wallets. The wallet uses an EAL6+ rated Secure Element chip to safeguard stored sensitive data. As far as I understood, this level of security certification is one of the highest available for hardware devices, ensuring that your private keys and other critical information are protected against external threats. However, as disclosed previously, it's important to note that the information provided regarding the security features is based on my research and understanding, but I am not an expert in security. Therefore, readers are encouraged to form their own opinions and assessments regarding the security measures of the wallet. The CoolWallet Pro utilizes AES-256 encryption for its Bluetooth connection, securing the confidential data transfer between the wallet and your mobile device. This encryption prevents unauthorized access to your information during transmission.

The wallet is designed to become permanently inoperable if disassembled, protecting against physical tampering. This feature ensures that any attempt to physically access the secure elements of the wallet will render it unusable, safeguarding your assets. Its robust construction makes the wallet both waterproof and tamper-proof, providing additional layers of security for storing your cryptocurrencies safely, anywhere and anytime.

CoolWallet Pro Box Inclusions 

After unboxing, the package contains:

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  • The CoolWallet card
  • A charging pod
  • A mini USB charging cable
  • A detailed getting started guide
  • Two recovery phrase sheets

The card has a small e-paper display for simple navigation, a serial number for app pairing, and a single-click button and weighs around 6 gram. Encrypted Bluetooth connection enables secure communication with the app. Despite being tamper-proof and water-resistant, it is not recommended to submerge the gadget because of its electrical display, button, and charging port. Because of its lightweight design and ability to withstand temperatures ranging from -10 to 60 degrees Celsius, it is the perfect choice for daily use while on the go.

Setup Process

Setting up the CoolWallet Pro is straightforward, involving downloading the CoolWallet App, charging the wallet, pairing it with a mobile device via Bluetooth, and creating a wallet with a new seed phrase for security.

To set up the CoolWallet Pro, follow these steps as highlighted:

1. Download the Official App: Begin by downloading the official CoolWallet Pro app on your mobile device from the respective app store.

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2. Charge the Device: Ensure that the CoolWallet Pro device is fully charged before initiating the setup process to prevent any interruptions.

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3. Pair with Mobile Device: Pair the CoolWallet Pro hardware wallet with your mobile device using Bluetooth connectivity. This step establishes a secure connection between the wallet and the app.

4. Create a Wallet: Follow the on-screen instructions within the app to create a new wallet on the CoolWallet Pro. This includes setting up a secure PIN and generating a backup recovery seed phrase.

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5. Ensure Security: Safeguard your wallet by securely storing the recovery seed phrase. This phrase is crucial for recovering access to your wallet in case of device loss or damage.

6. Transfer Cryptocurrencies: Transfer your desired cryptocurrencies to the CoolWallet Pro to start managing and securing your digital assets effectively.

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Potential Deal Breakers

As mentioned earlier in the drawbacks of the CoolWallet Pro, these potential limitations align with the possible deal breakers that users may encounter.

  • Battery Dependency
  • Reliance on Mobile App
  • Limited Physical Interaction.

Recognizing that these potential deal breakers are subjective and contingent on individual preferences and requirements is essential. What may pose a significant drawback for one user could be insignificant to another. Users should assess their specific needs and priorities when considering the CoolWallet Pro as their hardware wallet choice.

Frequently Asked Questions (FAQs)

I have found these questions online while looking more into the wallet itself, so I have decided to add them to the article in case any additional questions arise. 

What cryptocurrencies does the CoolWallet Pro support?

   - The CoolWallet Pro supports over 5000+ coins, including popular cryptocurrencies and ERC20 tokens.

Can I stake cryptocurrencies with the CoolWallet Pro?

   - Yes, it allows for staking of ERC20 tokens directly from the device, supporting popular staking coins like Cosmos, Tron, Polkadot, Tezos, Cardano, and ETH2.0 tokens.

How does the CoolWallet Pro connect to my mobile device?

   - It pairs via Bluetooth to a mobile app available for Android and iOS devices, allowing for secure transactions and asset management.

What is the battery life of the CoolWallet Pro?

   - The lithium-ion battery lasts around two weeks with regular use, requiring about two hours for a full charge.

Can I trade NFTs with the CoolWallet Pro?

   - Yes, the CoolWallet Pro supports in-app NFT trading functions, making it convenient for secure NFT transactions.

How do I set up the CoolWallet Pro?

   - The setup involves downloading the CoolBitX Crypto Wallet App, charging the wallet, pairing it with a mobile device via Bluetooth, and creating a wallet with a new seed phrase.

Is the CoolWallet Pro water-resistant?

    - Yes, the wallet is designed to be water-resistant and tamper-proof, providing extra durability.

Can I use the CoolWallet Pro to buy crypto directly? 

    - Yes, the wallet incorporates the ability to buy crypto, use Binance DEX, WalletConnect, token-to-token exchange, and many other features to facilitate crypto transactions and services.

What is the Difference Between CoolWallet Pro and CoolWallet App?

    - The CoolWallet Pro is the physical hardware wallet for secure storage of private keys, whereas the CoolWallet App is the software interface for managing cryptocurrency assets.

Conclusion

I think the wallet is great for on the go, as it is quite compact and doesn't require charging for 2 weeks. The setup is quite easy and beginner friendly. However, for larger transactions, I would personally want a larger screen and less reliance on the mobile app. This being said, the wallet represents a good value at its price point, considering its wide array of features and support for a large number of cryptocurrencies and related services.

If you would like to support me you can do so by buying the wallet through my link:

Coolwallet: https://www.coolwallet.io/product/coolwallet-pro/?ref=zmnhn2m

Twitter: https://x.com/Disguycrypto

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Disguycrypto
Disguycrypto

In Crypto since early 2018


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