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Author Topic: So I decided to try out this new cold wallet and that is my opinion and of it.  (Read 193 times)
hoaryal1 (OP)
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October 15, 2018, 08:11:45 AM
 #1

I've been in crypto for a while, and I think I've never held my coins on somewhere besides a cold wallet for more than an hour.

Back then it was annoying as hell because my cold wallet was a paper with all the PK and stuff written on it, I had more than one wallet and more than one copy so just imagine the time it took me and the constant fear of losing it.

One of the first Wallts I tried was the Ledger Nano S.
When I choose  to use them Ledger already establish their and proved that a mobile cold wallet can be as safe as a paper one, it helped me and probably to many other holders a great deal

Up until a few weeks ago, all my holdings were in a Ledger, mainly because it was way more comfortable than the normal cold wallet, I could take it with me to trips across the world or even to a small vacations, however, when I would go with it to a  bar, restaurant or any other business that accept Crypto It was inconvenient and absurdly difficult to use, the reason is that even with the mobility of the ledger you still need a USB connection. which also means, you also need to go with a cable with all the time and that's pretty annoying and obsolete.

So, a few weeks ago I came across a new cold wallet which called CoolWalletS which is like ledger in terms of security but the mobility is better, the wallet itself is thin as credit card and it has Bluetooth technology to connect to any smartphone with the software, it means you can take your funds securely as they were to anywhere in your pocket, that's the best mobility out there.
And it looks pretty cool:  

It feel kinda moving fro ordinary Telephone to Cellphone


I decided to order one and try it out and it went surprisingly well, at the beginning I was scared it will fall of my pocket or something but its small enough to enter my real wallet and also big enough to stay there strong, however I still afraid a bit.
The software itself is still in the early stages and this is the most sensitive part.

I'm not using it as a replacement for Ledger but I do have small % there for when I'm going out so I can pay with crypto, in the end, I have better security than normal smartphone software wallet or any alternative mobility

To summarize I'm very happy with it and It provides something the Ledger cant, but I think that both of them together is the perfect combo. For a weekly/daily basis use, The Coolwallt and for long-term and quite mind the Ledger.

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October 15, 2018, 08:43:01 AM
 #2

Why not create a hot wallet on your phone instead of buying that kind of cold wallet? That is easily accessible and easier to manage. You always have your phone with you. You also add a budgeting style, like for example, withdraw a certain amount of Bitcoin then that's what you're allowed to spend. Not only that you can save more bitcoins, but forces you to save because it's tiring to transact with cold storage/wallet.

I agree that it looks cool and that it fits just like a normal card.

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October 15, 2018, 08:46:39 AM
 #3

This type of card or USB devices is also safer in my opinion. Every device that provides online connection is dangerous. I don't know the logic of this card. But there are a few good alternatives.
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October 15, 2018, 12:36:43 PM
 #4

Why not create a hot wallet on your phone instead of buying that kind of cold wallet? That is easily accessible and easier to manage. You always have your phone with you. You also add a budgeting style, like for example, withdraw a certain amount of Bitcoin then that's what you're allowed to spend. Not only that you can save more bitcoins, but forces you to save because it's tiring to transact with cold storage/wallet.

I agree that it looks cool and that it fits just like a normal card.

It simply safer, and cooler tbh xD

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October 15, 2018, 12:51:07 PM
 #5

Cool device, but too gimmicky. Though I also think it's cool, but isn't the main purpose of a hardware wallet is a cold storage of your cryptocurrencies? If I wanted a wallet that's easy to transact with, I would just simply send a reasonable amount of bitcoin to my mobile wallet. Not to mention it uses bluetooth. Though easier to use as it's wireless, it could possibly be a security vulnerability.

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October 16, 2018, 03:19:17 AM
 #6

Up until a few weeks ago, all my holdings were in a Ledger, mainly because it was way more comfortable than the normal cold wallet, I could take it with me to trips across the world or even to a small vacations, however, when I would go with it to a  bar, restaurant or any other business that accept Crypto It was inconvenient and absurdly difficult to use, the reason is that even with the mobility of the ledger you still need a USB connection. which also means, you also need to go with a cable with all the time and that's pretty annoying and obsolete.

I think you misunderstood the purpose of Ledger/hardware wallet itself. IMO it is created to secure your cryptocurrencies for a long time, which is why it lacks mobility. I don't think it is a drawback if that's the purpose. A cold wallet shouldn't be used regularly to do a transaction, and you should stick to hot wallet just like @mjgiqw suggest above.


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October 16, 2018, 03:00:06 PM
 #7

[...] like ledger in terms of security

[...] it has Bluetooth technology to connect to any smartphone

Choose one.

I'm not saying that secure wireless connections are impossible, but I definitely wouldn't trust a hardware wallet with a bluetooth connection until it's far more established and a lot of people have hacked away on it.

Talking about hacking away, there are no public repositories and the software seems to closed source. No way I'm gonna touch that.

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October 18, 2018, 02:51:59 AM
 #8

I think you misunderstood the purpose of Ledger/hardware wallet itself. IMO it is created to secure your cryptocurrencies for a long time, which is why it lacks mobility. I don't think it is a drawback if that's the purpose. A cold wallet shouldn't be used regularly to do a transaction, and you should stick to hot wallet just like @mjgiqw suggest above.
I've got a Ledger myself months ago since everyone on Reddit and here recommend it, but I need to say it is really hard to use. I don't think nowdays any product with such poor user experience will be accepted except in this crypto world. Why can't they just try to provide a more convenient product with the same safety level? I literally wanted to cut my own fingers clicking that little buttons...
If I dont have a ledger already, would have buy one of those, but now I'm stuck with my ledger until I get more money in crypto to justify another hard wallet...
Thanks ledger
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October 18, 2018, 09:31:48 AM
 #9

I've got a Ledger myself months ago since everyone on Reddit and here recommend it, but I need to say it is really hard to use.

There are several guides available on the internet which show the first steps with the nano s.
IMO it is very intuitive. Setting up the ledger can easily be done with some help from the internet.

Ledger live also seems to be designed pretty intuitively.

May to explain what exactly seems to be hard to use for you ?



If I dont have a ledger already, would have buy one of those, but now I'm stuck with my ledger until I get more money in crypto to justify another hard wallet...
Thanks ledger

You shouldn't choose a hardware wallet just based on the usability.
Ledger and trezor are - by far - the most secure hardware wallets. Simply because the are the ones most used and most tested.

Quite a lot of those new hardware wallets are beautiful designed, but use closed source software and/or have other non-recommended properties.

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