Over the past few years, plenty of cryptocurrency enthusiasts have been looking for ways to keep their funds safe and secure at all times. Cold storage solutions are becoming more popular, and there are quite a few different options to choose from. When it comes to storing Bitcoins securely, no bridge is too far to keep them safe. The best option is to keep savings and the majority of coins offline at all times.
#4 Coinbase Vault
Relying on third-party service providers to keep the funds safe is a bit of a tricky decision. Storing bitcoin in the Coinbase exchange wallet is not a good idea, yet their Vault service offers some potential. Coinbase Vault lets users store funds in cold storage. Users can also set up a joint account, which requires more than one person to sign off on every transaction. Moreover, 98% of all funds is stored offline, ensuring no one can hacker the wallet.
Since this service has no hidden fees, it is a more than a viable solution. Users are given absolute freedom as to how secure they want to make their Coinbase Vault. Setting up 2FA is an option well worth exploring. Moreover, it takes 48 hours before withdrawals are processed, which allows users to cancel unauthorized transactions if need be.
The Cryptosteel project started out as an Indiegogo campaign back in June of 2015, where it raised a total of US$36,610. Cryptosteel is an indestructible stainless steel artifact which is designed to store confidential information. Users can assemble private keys from the supplied letter block, and enclose this data in the cold storage wallet solution. Think of it as a personal vault that fits in your pocket.
What makes Cryptosteel such a powerful solution is how it resists all elements, including fire, corrosion, and acid. Third parties won’t be able to access the wallet either, as there are no engraved plates containing QR codes or anything similar. Cryptosteel can be used for different kinds of cryptocurrencies, including Bitcoin.
#2 Armory Multisig Cold Storage
Armory provides bitcoin enthusiasts all over the world with a cold storage and multi-signature solution to keep funds secure and offline. Once a user installs the Armory wallet on their preferred device, they can set it up as cold storage. This wallet will never be connected to the internet, yet it will still allow for spending funds. Moreover, there is no need to synchronize the blockchain with the offline wallet. Users can create unsigned transactions online, sign it offline, and then broadcast it to the bitcoin network online.
#1 Electrum Offline
The Electrum wallet is one of the most commonly used solutions in the cryptocurrency wallet world. This software offers an offline feature. Users will need a USB stick to install the program though, which will then act as a personal Bitcoin wallet drive moving forward. Do keep in mind to set up the recovery seed and make sure they are stored somewhere if the wallet ever needs to be recovered.
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