In this article, I am going to give you the 3 best cryptocurrency cold storage solutions. You’ve probably heard this before by your friend or colleague that introduced you to the wonderful world of cryptocurrency: “You need to store your bitcoin offline using cold storage”. So what does that mean exactly? There are many forms of cold storage, but there is considerably more forms of “Hot Wallets” or storage that is convenient and directly tied to an internet connection.
I don’t need to tell that this form of storage is convenient, but is riddled with considerable risk. With a normal bank account, if there is fraud or if someone hacks your account, you have recourse, and in most cases your will not be liable and be fully reimbursed. No harm no foul, right?
That is not the case when it comes to cryptocurrency. It’s about self-sovereignty and full ownership and responsibility of your own finances. With that in mind comes a great deal of responsibility and in this case, responsibility over your own finances and your own bank is a blessing. So what do you need to know? You absolutely, 100% need a cold storage solution for storing your cryptocurrency offline to keep your private keys and recovery seed safe.
I am going to share with you below the 3 best cryptocurrency and bitcoin cold storage solutions, starting with what I consider to be the most secure, all the way down to what is not so secure. However, everything that is offline (generally speaking) is still more secure than keeping your long term holdings on a phone or any other internet connected device.
HERE ARE THE TOP 3 COLD-STORAGE SOLUTIONS FOR STORING YOUR CRYPTOCURRENCY OFFLINE
Be advised that these are considered to be the best practices currently in the industry and most commonly used tried and true methods. There are other ways to go about this, but as they are not properly vetted and not as commonly used, we will not be listing them here.
#1 HARDWARE WALLETS (MOST SECURE) 
You can probably tell by now that I am a strong advocate of hardware wallets. I even developed and built one working for a very prominent cryptocurrency company and I have the latest prototype not 2 feet from where I sit now.
I have a lot of first-hand experience in understanding why it is vitally important to own one and use one for any amount of cryptocurrency you don’t plan to spend in the next 24 hours. It has some keen advantages on top of being an “offline” device, which means it cannot be hacked.
- Private keys are generated on and never leave the device, even when it’s connected to the computer. This is crucial because if your private keys are stored in a secure environment and they are never removed from the device, there is no risk of them being exposed to the internet.
- Custom PIN Encryption – This is an extra layer of security that requires the user to set a 4-8 digit custom pin once it’s connected to USB port that is connected to the internet, like a desktop or laptop (or even a mobile phone). Without this PIN, you cannot even gain access to the application to make changes or sign transactions.
- Additional Device Verification – This means that any action you take on the web or desktop application with your mouse or a keystroke, requires authentication on the device itself to ensure there is no key-logging or unauthorized changes. For example, If I want to spend 0.25 BTC on a new snowboard on Amazon (Yes, you can do this with Purse.io), and you initiate that within the web app, it will prompt your to confirm the transaction on the hardware device via physically pressing a mechanical button. This is to ensure no mistakes and no unauthorized transactions occur.
#2 USB DRIVE (NOT AS SECURE)
This option is better than leaving all of your holdings on a hot wallet, but is still not recommended. Why? Because unlike a trusted hardware wallet, it has no security measures. If someone gains access to the unsuspecting USB drive, they will have unfettered access to your precious private keys.
It is not encrypted, it is not protected, and anyone with access to google can crack this if they have physical possession of it. Additionally, I cannot tell you how often these little devices have hardware failures. If you do not have a backup of these keys, your coins will be gone forever if something goes wrong.
#3 PAPER WALLET (EVEN LESS SECURE)
This one is a “Catch 22”. What do I mean by that? Well, I see the value of what it is and I understand why this invention was created. For instance, when I wanted to give my loved ones some bitcoin in their stocking at Christmas, it was (and still is) a great way to introduce bitcoin to the uninitiated and get them excited about this new technology.
A paper wallet is exactly what it sounds like, it’s your bitcoin in paper form. It usually includes a QR code to scan with your phone and import into a hot wallet and contains a written public and private key. This is not secure, but if you are gifting it to someone, or making a trade or transaction offline, it’s a decently good medium, especially if you don’t know or necessarily trust the recipient. 
As I mentioned above, if you are unfamiliar with this amazing piece of paper, it exposes everything you need to take control of this bitcoin. It has written out the public bitcoin address and the corresponding private key. If someone dropped this in the wind and I picked it up down the road, it would be like getting a winning lottery ticket (literally). As you can see there are very few recommended uses for this, and even when using this, you need to be very, very careful.
FINAL THOUGHTS
So, 3 best cryptocurrency cold storage solutions? When choosing the best cold storage solution for you, you need to understand what your end game is. What is your purpose and intent when deciding to pull your crypto offline? Most people who learn about the many advantages about cryptocurrency, typically plan to hold it for an extend period of time, whether it be for a long term investment or even everyday spending (like me).
The Bottomline: Unless you are planning to give some bitcoin away as a gift or you are making a one time transaction with a stranger in a dark alley, I STRONGLY recommend you purchase a hardware wallet. One of the most popular ones right now and is widely supported by a wide range of different cryptocurrencies is only $59 at the time of this writing.
Believe me, it won’t be that price for long. Once the next market cycle starts to ramp up, these prices are going to be increasing, and it is a steal considering you are protecting potentially millions or billions of dollars worth of lifetime crypto-assets. The hardware wallet in question here is the Ledger Nano S, and I use this as one of my everyday wallets as well for spending. If you click the “HOME” button at the top, you can see all the different wallets we offer and endorse right now, depending on what features you need and what works best for you.
If you have any questions or comments on this post, please sound off below! I’d love to hear from you! Until next time…
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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Ellipal Titan vs BC VAULT (2020) | 2 Best Hardware Wallets Out Right Now?
Ellipal Titan vs BC VAULT! In this comparison, we are going to do a head-to-head of two of the most competitive and popular new cryptocurrency hardware wallets in this edition of the hardware wallet roundups.
I am going to dive into which of these hardware wallets is better and more secure. How big is your portfolio? Do you need mobile AND desktop support? Do you use any 3rd party wallets for integration? Do you need web-based access instead of a required download?
These are all questions you will need to consider when deciding which of these wallets will be best for you. At the end of the day, the coin support is one of the most important factors (besides security) when deciding which hardware wallet is best for you.
Ultimately, if it doesn’t support the coins you want to store offline, it won’t work for your particular situation. So keep that in mind as we dive into what I consider to be the most important factors when making such an important decision, such as choosing a cryptocurrency hardware wallet.
Ellipal Titan: Overview
This is a really unique device and has a very robust form factor that has ratings that rival that of some high-end smartphones. What separates this hardware wallet from the majority of other popular wallets is it’s communication method. So, what do I mean by that? This device has NO: USB Connection, NFC Connection, WiFi Connection, Bluetooth Connection, or Cellular Connection. So, how do you use it? The short answer is: QR Codes.
Ellipal Titan: Security
This is a 100% air-gapped device, so ultimately it is more secure than any other way to interact with a hardware wallet. Period. The device has a tamper-resistant enclosure that includes a self-destruct mechanism for any potential way to access the internals of the device.
It is built in such a way that if anyone tries to break the screen or drill a hole through the device in an attempt to open its internal layout, the private keys will be erased. This is extremely powerful and will ultimately deter people from trying to hack this completely wireless device.
Ellipal Titan: User Experience (UX)
This hardware wallet has a camera, a 4-inch full color display, and does not display any balances on the device itself. The portfolio management and execution of the device is managed via a companion iOS and Android app that is used to initiate transactions and allows you to utilize the camera from your smartphone to transfer funds securely to the cold wallet, and vice versa.
I have been using this device for several weeks now, and in my personal opinion, it has been super easy to use and also very secure. I like knowing that my device is essentially indestructible and does not require any other 3rd party connection in order for it to function. This not only makes it very convenient, but it also very secure and eliminates room for error when typing or copying pasting wallet addresses that you are trying to transact with.
Ellipal Titan: Coin Support
This is always the section I check the most when reviewing hardware wallets, because although functionality and security are important, none of that matters unless it supports the coins you want to store offline. So here is the current list of supported coins and the one that are currently in development listed in the below picture.
BC VAULT: Overview
Unlike most other popular cryptocurrency hardware wallets, like Ledger Nano X and Trezor Model T, you do not set up a recovery seed card before you initialize the device. In fact, there is a gyro sensor for you to randomly generate private keys by physically shaking the device (seriously).
You can also hold more than 2000 unique wallets within the web app, and can granularly set specific passwords for each one and setup multiple PIN’s to not only make it more secure, but also allows for an easy way to share the device and use Multi-Sig. In fact, this is the first device that natively allows you to use Multi-Sig on a per wallet basis and set multiple PIN’s.
This wallet does not use HD wallets, so each wallet has its own unique backup. This does make it more secure, however, if you lose or forget the global PIN and global password for the device, your funds are locked inside forever. They do have an encrypted QR code backup for each individual wallet, or you can create a backup on the included micro SD card that comes in the box.
BC VAULT: Security
The storage is reliable. The BC Vault’s private keys have complete encryption and they are stored in the FRAM device. The FRAM is fully tamper-resistant and thanks to the reversible USB 3.0 Type-C connector any damage occurring from mechanical error is fully prevented.
In addition to the secure FeRAM that is securely encrypted, and the large display which is useful when confirming transactions, you have peace of mind not having to worry about anyone locating or using a recovery seed phrase to render your funds useless.
You can also import any private keys you have elsewhere via the SD card as well, so you can easily interchange private keys from other wallets if you have them in the correct format.
BC VAULT: User Experience (UX)
This wallet has some pretty unique features I will admit, and it’s pretty refreshing. For example, you can use multiple cryptocurrencies at once. There are no “apps” you need to install or fear or worry of running out of space that most wallets have when upgrading the firmware.
Additionally, the amount of coins and wallets that can be used/stored simultaneously is astounding. As mentioned above, you can have up to 2000 unique wallets and can interchange multiple cryptos in multiple wallets.
BC VAULT: Coin Support
This is usually one of the most important factors when deciding on a hardware wallet (with the exception of security). If the wallet doesn’t currently support the coins you need to store offline, you can’t really take it too seriously as a deciding factor for purchase. Regardless of whether or not they claim to add more coins in the future.
Needless to say, they have some unique choices for coin support HERE.
Ellipal Titan vs BC VAULT: Conclusion
This is a really close call. Each of these wallets have some unique features that I use for different use cases. When it comes to the BC VAULT, I can securely share this wallet with multiple people and it’s honestly the best user experience when it comes to multi-sig on a hardware wallet. Period.
When it comes to the Ellipal Titan, the completely wireless and air-gapped security is extremely compelling. It makes it very easy to use on the go, and not be tethered to a computer. The ease of use and over user experience is much improved from the last iteration of this product and I personally have been using this for long term “hodling” lately, and as a single user with no need for multi-sig on this type of device, it’s been extremely pleasant to use.
At the end of the day, these are really built for two different use cases (in my opinion), but both have great coin support and have very unique security features that set them apart from the rest of the pack.
If I could only choose one and I didn’t specifically need multi-sig for a specific reason, I would go with the ELLIPAL TITAN. I’ve used almost every single hardware wallet on the market and the ease of use and peace of mind is enough to make me feel secure and makes it easy to send your private keys offline. You really can’t go wrong with ANY of these wallets, but just think about how you want to manage your crypto assets on a regular basis.
What do you think? Would you choose the BC VAULT over the D’CENT Wallet? Let us know down below in the comments!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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Changelly Review (2020) | Is This Crypto Exchange Platform Safe?
In this Changelly review, we are going to go over how their fee structure works, what kind of altcoins they support, and whether or not they can be trusted to trade your crypto!
Changelly is similar to Shapeshift, in that you can instantly swap altcoins to be traded instantly to the wallet of your choice. It’s quick, secure, and very very cheap at only 0.5% exchanges fees, which you can’t get any other mainstream exchange.
This is a great option for people that want to get an instant conversion from any of your favorite coins and don’t want to sign up for anything or provide personal information. They also allow you to buy cryptocurrency with a credit card or debit card, but that is a little more extensive process that will require some personal information (much like any other OTC exchange).
Let’s jump in and see if this is any different than buying or trading crypto on CoinMama. Let’s go!
What is Changelly?
Changelly is a platform that allows your trade cryptocurrency instantly without any personal verification or identity details, similar to Shapeshift. This platform uses a combination of the some of the top leading cryptocurrency exchanges to provide you with the best price on crypto-trading pairs that are not typically offered on other exchanges.
This is one of the ONLY remaining anonymous crypto trading platforms that allow you exchange different trading pairs without providing any identifying information and can be done in less than a minute.
Additionally, they integrate with many leading hardware wallets and software wallets directly to ensure your private keys are protected. These wallets include but are not limited to: Trezor, Ledger, Exodus, and Jaxx.
Is It Legit? Can I Trust It?
This is one of the most important questions you can ask when dealing with a cryptocurrency exchange. Changelly has been in existence since 2015 and has a very high TrustPilot customer satisfaction score for this type of service and has been widely trusted within an industry that doesn’t really rely on trust.
I have personally used this service (granted it was for a relatively small amount) but I did not run into any issues or delays when using the platform.
Simply put, this is a trusted resource to trade or convert your favorite crypto into another in a quick and efficient way and I will use them again myself if I ever need to.
What Kind Of Altcoins And Fiat Exchanges Can I Make?
So with this exchange, you can buy bitcoin with a credit card if needed. They do use an integration with Indacoin and Simplex for processing, so the rates are very high. I recommend if your goal is to buy crypto with a debit or credit card to use CoinMama, as it will be cheaper for you.
However, when exchanging between cryptocurrencies, the 0.5% fee is extremely low and is really a very good price. This is primarily what I have used this exchange for, if I need access to a particular coin and do not want to pay the exchange fees via an exchange like Binance or Coinbase.
Here is a list of all the support currencies, so you can verify if your particular coin is available on the platform.
If you do decide to buy any cryptocurrency with a credit or debit card, it will take about 24-48 hours depending on how much verification you have completed. If you do a crypto-to-crypto exchange or conversion, it can take as little as 5 minutes, up to 30 minutes, depending on how large the amount is.
What Makes It Different Than Shapeshift?
It really comes down to the fees, mostly. This has a lower crypto-to-crypto exchange rate than Shapeshift, however both options have a direct hardware wallet connection option. Additionally, Changelly does support a wider array of coins than Shapeshift does currently, but that can change in the future.
I enjoy using both platforms for different reasons, but if you want a quick and seamless process without using a hardware wallet, then you can use Changelly in a much easier way.
If you do want to see what Shapeshift offers, you can check out my full review of their new platform HERE.
Changelly – Conclusion
Overall, this is a good crypto-to-crypto conversion exchange with very high quality customer support and a no hassle, easy to use platform. If I need to swap altcoins in a pinch, this is the service I use. Period.
In my personal experience, I was able to exchange over $300 worth of crypto in under 10 minutes and I never ran into any issues or needed to use the customer chat or submit any tickets for support, which is good.
Bottomline: If you want to convert fiat-to-crypto, don’t use Changelly, use Coinmama. If you want to convert crypto-to-crypto, then I would STRONGLY recommend using this service, as I know firsthand it works, and I can convert my coins directly into whatever altcoin I need without having to do a “Double Conversion”, like I would on a standard crypto exchange.
What do you think? Have you used this service before? If so, let us know your experience below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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BC VAULT vs KeepKey (2020) | How Important Is Multi-Sig, Really?
BC VAULT vs KeepKey! In this comparison, we are going to do a head-to-head of two of the most competitive and popular new cryptocurrency hardware wallets in this edition of the hardware wallet roundups.
I am going to dive into which of these hardware wallets is better and more secure. How big is your portfolio? Do you need mobile AND desktop support? Do you use any 3rd party wallets for integration? Do you need web-based access instead of a required download?
These are all questions you will need to consider when deciding which of these wallets will be best for you. At the end of the day, the coin support is one of the most important factors (besides security) when deciding which hardware wallet is best for you.
Ultimately, if it doesn’t support the coins you want to store offline, it won’t work for your particular situation. So keep that in mind as we dive into what I consider to be the most important factors when making such an important decision, such as choosing a cryptocurrency hardware wallet.
BC VAULT: Overview
Unlike most other popular cryptocurrency hardware wallets, like Ledger Nano X and Trezor Model T, you do not set up a recovery seed card before you initialize the device. In fact, there is a gyro sensor for you to randomly generate private keys by physically shaking the device (seriously).
You can also hold more than 2000 unique wallets within the web app, and can granularly set specific passwords for each one and setup multiple PIN’s to not only make it more secure, but also allows for an easy way to share the device and use Multi-Sig. In fact, this is the first device that natively allows you to use Multi-Sig on a per wallet basis and set multiple PIN’s.
This wallet does not use HD wallets, so each wallet has its own unique backup. This does make it more secure, however, if you lose or forget the global PIN and global password for the device, your funds are locked inside forever. They do have an encrypted QR code backup for each individual wallet, or you can create a backup on the included micro SD card that comes in the box.
BC VAULT: Security
The storage is reliable. The BC Vault’s private keys have complete encryption and they are stored in the FRAM device. The FRAM is fully tamper-resistant and thanks to the reversible USB 3.0 Type-C connector any damage occurring from mechanical error is fully prevented.
In addition to the secure FeRAM that is securely encrypted, and the large display which is useful when confirming transactions, you have peace of mind not having to worry about anyone locating or using a recovery seed phrase to render your funds useless.
You can also import any private keys you have elsewhere via the SD card as well, so you can easily interchange private keys from other wallets if you have them in the correct format.
BC VAULT: User Experience (UX)
This wallet has some pretty unique features I will admit, and it’s pretty refreshing. For example, you can use multiple cryptocurrencies at once. There are no “apps” you need to install or fear or worry of running out of space that most wallets have when upgrading the firmware.
Additionally, the amount of coins and wallets that can be used/stored simultaneously is astounding. As mentioned above, you can have up to 2000 unique wallets and can interchange multiple cryptos in multiple wallets.
BC VAULT: Coin Support
This is usually one of the most important factors when deciding on a hardware wallet (with the exception of security). If the wallet doesn’t currently support the coins you need to store offline, you can’t really take it too seriously as a deciding factor for purchase. Regardless of whether or not they claim to add more coins in the future.
Needless to say, they have some unique choices for coin support HERE.
KeepKey: Overview
KeepKey has been one of my absolute favorite hardware wallets to use in 2019. I was asked to test and report back issues with the ShapeShift beta that was a complete overhaul and utilized the KeepKey as it’s cornerstone of promoting keeping possession of your private keys under your control while you conduct trades, which has never been done before.
It was an ambitious goal, but they pulled it off in spades, and as a result it resulted in one of the best user experiences while using a hardware wallet I’ve ever encountered. It was quick, safe, and makes it easier than ever to manage your assets, portfolio, and trades all while keeping all your keys on a hardware wallet and never forfeiting custody. This is truly a game-changer and will pave the way for future hardware wallets moving into the next decade.
Let’s find out why below!
KeepKey: Security
KeepKey has a true random number generator (TRNG) for it’s PIN interface for extra physical security. In addition to offline storage, KeepKey’s PIN code and number randomization makes sure that
1) Your wallet is secure from physical theft.
2) That a hacker couldn’t steal bitcoins from your wallet with malware.
KeepKey is an HD wallet, meaning your entire wallet can be backed up with the 12 words generated on setup. 12 words is the default setting, although KeepKey supports seed lengths of 18 and 24.
The seed is generated using entropy from both the device itself and the computer used for setup. The seed is generated offline on the KeepKey and displayed on the device’s screen. The device’s offline screen makes sure the seed is never displayed on an internet-connected device.
KeepKey: User Experience (UX)
w,This is a complete overhaul that includes all of their services including: Instant Trades, Real-Time Market Data via CoinCap, In-App Crypto Purchases, and KeepKey Integration. That last part is of particular interest to me because I’ve wanted to find a way to execute purchases and trades while having my KeepKey connected, while ensuring that my private keys are protected throughout the entire process.
This is a very important detail, especially if you want to make purchases online with that extra protection and also ensure that my private keys are never compromised in a trade. This truly is the ultimate non-custodial hardware wallet solution. Here’s a few screenshots and user flows based on my experience using this web app.
KeepKey: Coin Support
Natively, this wallet in the current form supports over 40 assets with more on the way! Here is a current list of assets that are supported right now. Now let’s get into the nitty-gritty. For years, KeepKey only supported: Bitcoin, Litecoin, Ethereum, Namecoin, Dogecoin, and Dash. For a hardware wallet that needs to compete in this market place, that needed a serious upgrade.
Luckily, they have been making some AMAZING changes and not only added a ton of ERC-20 Support, but more importantly, they are revamping their entire platform to have one fluid, seamless application that integrates all of their core services (See my previous post for details on this). This is extremely powerful, and a decision that I believe will catapult them ahead of the competition. They are currently in a closed beta, and it is expected that they will be releasing this later in 2019. Stay tuned for news on this.
Some of the notable coins that have been added are:
-Chainlink (LINK)
-DigixDAO (DGD)
-Binance Coin (BNB)
-Dai (DAI)
-Maker (MKR)
-TrueUSD (TUSD)
BC VAULT vs KeepKey: Conclusion
Honestly, this is a tough one. My experience has been extremely pleasant when using both of these hardware wallets and I use them both for different coins and different use cases. Having said that, I enjoy the trading and portfolio experience on the KeepKey better.
The BC Vault is a VERY unique and robust wallet, especially if you want to secure share this hardware wallet with multiple people and want to use multi-sig to have shared wallets with multiple “voters” required in order to spend a transaction.
As of the time of this writing, you can can get a Keepkey for under $50 during this holiday season special and comes in multiple colors, so you will get a high quality device that is easy to use and uniquely allows you to trade your assets without ever releasing custody of your private keys.
This is a VERY big deal, and has not been done yet on any other hardware wallet. Although, Shapeshift has recently added some limited support for Trezor and Ledger Nano S.
All this to say, if you want a robust “vault” that is very intricate and allows for multiple users to use it safely, go with the BC VAULT. If you like to trade and want a very user friendly way to manage your portfolio, you can’t go wrong with the KeepKey.
BC VAULT vs Keepkey! What do you think? Would you choose the BC VAULT over the D’CENT Wallet? Let us know down below in the comments!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
