What's the best cold wallet for holding altcoins?

[AicecreaME]

If there's electrum for bitcoin as a cold wallet. What cold wallet would you guys recommend for hodling altcoins in the long run?

[Charles-Tim]

Electrum is not a cold wallet unless you use it on an airgapped device.

The wallet that I have used for altcoins which is open source is Unstoppable. You can use it on an airgapped device and have its watch-only wallet on an online device for transactions. The problem is that it is not supporting some altcoins.

Or you can buy a hardware wallet like Trezor.

[AicecreaME]

Electrum is not a cold wallet unless you use it on an airgapped device.

The wallet that I have used for altcoins which is open source is Unstoppable. You can use it on an airgapped device and have its watch-only wallet on an online device for transactions. The problem is that it is not supporting some altcoins.

Or you can buy a hardware wallet like Trezor.

I would highly appreciate if you're going to drop the link here for the "unstoppable" wallet and where can I buy a legit trezor wallet. I'm planning to diversify my portfolio since it's still a good time to bag some alts.

My first thought was I'm gonna hodl it on a certain exchange but it's still better if I hodl my own keys for better assurance, can't risk it nowadays, especially the SEC here in our country is very shitty.

[Charles-Tim]

I would highly appreciate if you're going to drop the link here for the "unstoppable" wallet and where can I buy a legit trezor wallet. I'm planning to diversify my portfolio since it's still a good time to bag some alts.

For Unstoppable wallet: https://unstoppable.money/
You can buy Trezor directly from Trezor official website: https://trezor.io/

My first thought was I'm gonna hodl it on a certain exchange but it's still better if I hodl my own keys for better assurance, can't risk it nowadays, especially the SEC here in our country is very shitty.

Yes, it is not worth it if you are not trading.

[DPHOR]

I would highly appreciate if you're going to drop the link here for the "unstoppable" wallet and where can I buy a legit trezor wallet. I'm planning to diversify my portfolio since it's still a good time to bag some alts.

For Unstoppable wallet: https://unstoppable.money/
You can buy Trezor directly from Trezor official website: https://trezor.io/

Sorry to draw your attention towards this wallet, unstoppable.money, this is my first of hearing this otherwise what I uses is trustwallet for altcoin or MEW at least I can import the private keys on any wallet app and perform transactions without having any issues, although I often put it on watch list, like when I create an address on MEW i will insert it on trustwallet as only watch, to monitor transactions and check token/coin that are increasing in price.

[Charles-Tim]

Sorry to draw your attention towards this wallet, unstoppable.money, this is my first of hearing this otherwise what I uses is trustwallet for altcoin or MEW at least I can import the private keys on any wallet app and perform transactions without having any issues, although I often put it on watch list, like when I create an address on MEW i will insert it on trustwallet as only watch, to monitor transactions and check token/coin that are increasing in price.

I prefer Unstoppable because it is an open source wallet. But what I do not like about it is that it is only available on mobile device. Trust wallet is completely close source. Some developers argued that Metamask may be able to control their users keys and addresses probably because it is a web wallet and the keys are stored somewhere online. I can not recommend both wallet.

[Mrbluntzy]

I use trust wallet in holding my altcoins, it's not an open source wallet but since I started using the wallet, I have not experienced any issue with it and I don't allow the app to stay on my phone for security purpose, after creating the address, I back up my private keys and delete the app. When I buy any altcoins, I send it to the address and view the wallet on balance on block chain.

[Perfectbaby]

Sorry to draw your attention towards this wallet, unstoppable.money, this is my first of hearing this otherwise what I uses is trustwallet for altcoin or MEW at least I can import the private keys on any wallet app and perform transactions without having any issues, although I often put it on watch list, like when I create an address on MEW i will insert it on trustwallet as only watch, to monitor transactions and check token/coin that are increasing in price.

I prefer Unstoppable because it is an open source wallet. But what I do not like about it is that it is only available on mobile device. Trust wallet is completely close source. Some developers argued that Metamask may be able to control their users keys and addresses probably because it is a web wallet and the keys are stored somewhere online. I can not recommend both wallet.

I see! Thank you for the break down, meaning I shouldn't be using MEW or trustwallet anymore?
For long now have been that two wallet but I found no problems using them, maybe could it be as results that I didn't have enough coin/token inside that is why I am not being targeted for hack or scam?
Sure, for long never had anyone talking about MEW, instead trustwallet is mostly valued and if not that you said they are all close source meaning  its a redflag?

[Ojima-ojo]

Sorry to draw your attention towards this wallet, unstoppable.money, this is my first of hearing this otherwise what I uses is trustwallet for altcoin or MEW at least I can import the private keys on any wallet app and perform transactions without having any issues, although I often put it on watch list, like when I create an address on MEW i will insert it on trustwallet as only watch, to monitor transactions and check token/coin that are increasing in price.

I prefer Unstoppable because it is an open source wallet. But what I do not like about it is that it is only available on mobile device. Trust wallet is completely close source. Some developers argued that Metamask may be able to control their users keys and addresses probably because it is a web wallet and the keys are stored somewhere online. I can not recommend both wallet.

I see! Thank you for the break down, meaning I shouldn't be using MEW or trustwallet anymore?
For long now have been that two wallet but I found no problems using them, maybe could it be as results that I didn't have enough coin/token inside that is why I am not being targeted for hack or scam?
Sure, for long never had anyone talking about MEW, instead trustwallet is mostly valued and if not that you said they are all close source meaning  its a redflag?

We are beginning to deviate from the topic, the ops is asking for best cold wallet, and not wallet in that categories of trust Wallet, MEW and the rest of what have you, Trezo is fine enough, unless if you looking to store some altcoins also on the wallet.


Trust Wallet is the worst off for me since you can get your coins like USDT frozen on that wallet so for me it not secured and shouldn't be encouraged to be used for large storage.

[OcTradism]

If there's electrum for bitcoin as a cold wallet. What cold wallet would you guys recommend for hodling altcoins in the long run?

There are more than one available wallet softwares for storing your bitcoins and Electrum is one of wallets.

There are wallets that allow users to store multiple cryptocurrencies, not only bitcoin and hardware wallets provide cold storage for you. They are also multiple cryptocurrency wallets too.

[LIST] Open Source Hardware Wallets
[GUIDE] How to buy a Hardware Wallet the right way

You must now which wallets are good to use, and how to buy a wallet rightly as well as backup your wallet properly too.
How to back up a seed phrase ?

[mich]

Well I did not know of this cold storage wallet called Unstoppable. I do like it because it is open-sourced, non-custodial, and it does get audited.
But for me I do like a cold storage hardware wallet. And the 1 I do like to use the most is Trezor Safe 3.
https://trezor.io/trezor-safe-3

[Wind_FURY]

OP, Trezor would be my first suggestion and I'm not talking about the newer models. I'm talking about the FIRST and OLDEST model, the Trezor One.

Why?

Because its firmware is fully open source. I believe that the newer models have their firmware partially closed source. But do your own diligence and VERIFY.

[Charles-Tim]

I see! Thank you for the break down, meaning I shouldn't be using MEW or trustwallet anymore?

What I meant is that the wallets are not recommended.

For long now have been that two wallet but I found no problems using them, maybe could it be as results that I didn't have enough coin/token inside that is why I am not being targeted for hack or scam?

Being close source only means the developers can create a backdoor that users do not know about, unlike open source wallets that the public or other developers know their code.

Sure, for long never had anyone talking about MEW, instead trustwallet is mostly valued and if not that you said they are all close source meaning  its a redflag?

Yes, being close source is a red flag.

[SquirrelJulietGarden]

I see! Thank you for the break down, meaning I shouldn't be using MEW or trustwallet anymore?

Any advice you receive, don't trust, let's verify it with other sources like this tool.
https://walletscrutiny.com/

A bad wallet is custodial, and close-source which is not recommended. You can use that website for checking reproducibility of a wallet. Type the wallet brand name and check its review.

Trust wallet https://walletscrutiny.com/?platform=allPlatforms&page=0&query-string=trust
MEW (I believe you implied My Ether Wallet)  https://walletscrutiny.com/?platform=allPlatforms&page=0&query-string=MyEtherWallet

[slaman29]

I see! Thank you for the break down, meaning I shouldn't be using MEW or trustwallet anymore?

Any advice you receive, don't trust, let's verify it with other sources like this tool.
https://walletscrutiny.com/

Good link, forgot about this for a while. I think people need to do this more often. Cold wallets that are closed source, I just can't bring myself to trust.

But another important advice I think is people really need to test 1 or 2 cold wallets. You know if you're keeping a few hundred dollars of altcoins, and the cold wallet or cold technique is soooo hard to use, I think people are oversecuritizing.

Nothing wrong to keep even a simple wallet on a cold device to start with.

[dimonstration]

If there's electrum for bitcoin as a cold wallet. What cold wallet would you guys recommend for hodling altcoins in the long run?

I’m using Trezor the first version to hold my altcoins but in terms of convenience I preferred ledger because they offer much user friendly UI on their ledger live app.

What I just don’t like about ledger is their recent recovery feature which means they have access to our hardware wallet.

Planning to upgrade mine to the latest version of Trezor this upcoming December.

[BitMaxz]

I’m using Trezor the first version to hold my altcoins but in terms of convenience I preferred ledger because they offer much user friendly UI on their ledger live app.

What I just don’t like about ledger is their recent recovery feature which means they have access to our hardware wallet.

Ledger is user-friendly, but they already had so many vulnerabilities in the past, exploits, and any attacks.
It also does not have open-source code, so we don't know whether the program itself is vulnerable to attacks or not.
If I remember correctly, they do have a cloud backup, and seed phrase generation is compromised due to autocorrect, which is connected to Google.

So, if you are going to hold a large amount of coins, I don't recommend using Ledger. Trezor is much safer than this.

[Wind_FURY]

If there's electrum for bitcoin as a cold wallet. What cold wallet would you guys recommend for hodling altcoins in the long run?

I’m using Trezor the first version to hold my altcoins but in terms of convenience I preferred ledger because they offer much user friendly UI on their ledger live app.

What I just don’t like about ledger is their recent recovery feature which means they have access to our hardware wallet.

Planning to upgrade mine to the latest version of Trezor this upcoming December.

I have both the Trezor and the Ledger hardware wallets, but because Pmalek firmly emphasized that Ledger's firmware is not open source, and that we would never know if their hardware wallets are actually safe until they show their firmware's code to the world, he said Ledger users are taking a massive risk.

My Ledger is still brand new/never used since November 30, 2024. I said I'll use it for small amounts of Bitcoin, but I never did.

 

[SquirrelJulietGarden]

I have both the Trezor and the Ledger hardware wallets, but because Pmalek firmly emphasized that Ledger's firmware is not open source, and that we would never know if their hardware wallets are actually safe until they show their firmware's code to the world, he said Ledger users are taking a massive risk.

My Ledger is still brand new/never used since November 30, 2024. I said I'll use it for small amounts of Bitcoin, but I never did.

Ledger wallet is not open source and it has bad history of data breaches too. Trezor is a recommended wallet as it is open source.
[LIST] Open Source Hardware Wallets.

Ledger wallet also had its drama with Ledger Recover service launched years ago.
https://www.ledger.com/recover
Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities.
Ledger Recover: What The Hell is Happening? With aantonop and lopp. Both Andreas Antonopoulos and Jameson Lopp did not support Ledger Recover product.

[Pmalek]

I still have a small selection of altcoins that I felt were worth keeping and stablecoins on my Ledger. I felt like it's better to move my bitcoin to other hardware wallets but I am ok to keep my alts on Ledger. The alternative coins I have are supported by my Trezor as well, but I have the Bitcoin-only firmware installed on it and want to keep it that way. Centralized stablecoins can be frozen by their issuers anyways, regardless of how and where you keep the keys.