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Cryptocurrency is slowly changing the way the world runs its business. More institutions, companies, and corporations are adopting digital currency as a form of payment. Aside from this little fact, more people are now trading cryptos for profit. If you own some cryptocoins, you want to ensure that there are stored somewhere safe.
Investing in cryptocurrencies requires you to familiarize yourself with a few aspects of this industry. Key among these is understanding how to use digital wallets. It is usually very risky to live your coins in the exchange platforms as they are vulnerable to hacks and can also collapse anytime going down with your coins. A digital wallet is simply a software that allows you to store your private and public keys away from the exchanges. While there is various type of wallets, hardware wallets are the best since they keep your keys offline.
But now, there are more high-tech and sleeker looking hardware wallets. These wallets are smartcard-based hardware wallets, which have a similar design to that of a credit card. They can connect to a PC and other devices using Bluetooth technology or Near Field Communication (NFC).
The Cool Wallet is such a wallet, no wonder it’s called Cool it really is pretty cool. So let’s review what is so good and not so good about CoolWallet S.
What is CoolWallet S?
CoolWallet S hardware wallet is not so popular but ranks among the best you can opt to use to store your coins. It is actually the first wireless Bitcoin hardware wallet. It is also referred to as a cold storage wallet since you get to keep your coins offline. As noted earlier, keeping digital coins offline is safe since they are not exposed to hackers online. This wallet was developed by CoolBITX Technology company based in Taiwan in 2014.
CoolWallet S hardware wallet brings about a new dimension to the hardware wallets. While most hardware wallets require you to connect them to your devices using USB cable, CoolBITX introduces the first wireless hardware wallet that resembles your traditional credit cards. Now you will be able to easily move around with your digital hardware wallet in the form of a simple electronic card enabling you to carry out your transaction and access your personal details anywhere you go. You can simply slip the card into your wallet.
CoolWallet aim is not limited to just storing your digital coins. The manufacturers saw the need to expand its uses to make it a utility card. In addition to storing your private and public keys, in the future, you will be able to keep your medical records, passwords, ID numbers as well as your bank account details. CoolWallet S represents the future of digital offline storage.
Hardware wallets like TREZOR and Ledger Nano S can only work with USB compatible devices, but CoolWallet connects wirelessly to your device. In fact, it was the very first wireless hardware wallet. It can connect to any device that has Bluetooth technology, and it can fit snugly in your wallet.
Here is an overview of some the cool features of this cool wallet
- It is not accessible to hackers even when connected to a computer and is immune to computer malware.
- CoolWallet S Connects to multiple mobile and desktop devices and operating systems. It is compatible with any Bluetooth device.
- Fits into your pocket wallet since it is the same size and shape with your ordinary credit cards.
- It has a display screen that shows clear numbers.
- Supports Bitcoin, Ethereum, Litecoin, and Ripple.
- CoolWallet is 100% disconnected from the internet and only sends signed transactions to your mobile phone.
- It is super thin fitting nicely into your wallet
- It has a control button that you can use to navigate through the features in the card
- It has a battery that lasts up to two years and is rechargeable.
- It is heat resistant, waterproof, and can bend up to 15 degrees
What’s in the box
In the box, you will find the CoolWallet S card, USB cable, charger, and a card to write down your seed. Don’t forget to write it down. It is crucial for recovering your coins just in case you forget your password. The box itself is a work of art.
Apart from the initial cost of purchasing the device, there are no additional transaction fees charged by the wallet itself. The device costs about $120, which is fair considering the features it comes with. It is a bit expensive though than other hardware wallets.
Is CoolWallet S Safe?
When it comes to security, you want to have the most secure wallet to keep your private keys. While most hardware wallets are safe enough, CoolWallet S goes a notch higher in ensuring that your coins are completely safe. Not only are they secure from hackers but also from the company’s staff. Firstly, the company does not store any information from you. Any transaction that you carry out with the card or any data that you key in is entirely private. You are the only one with the ultimate access.
- Tthe company does not delegate any part of the manufacturing process as it might compromise the card’s security. They manufacture the card in its entirety ensuring maximum security in the manufacturing process.
- They have also taken the initiative of educating users about keeping their seeds in safe places and taking due responsibility. Any risks that may arise are user-generated that the company has no control of. It is entirely upon the user to be careful with their log in keys and seeds.
- Being a wallet that you can carry around in your pocket makes it very safe. Unlike other wallets that resemble USB devices which you may leave lying around, CoolWallet S can always be in your wallet or pocket. It is very hard for any malicious individual to take control of it not unless they attack you physically. Even then, the attacker must find a way of extracting your secret information from you to get access to your account. They must learn your user habits and your apps protocols to manage your account.
Here is a break down of CoolWallet S safety
CoolWallet S is one the safest hardware wallets available. Is CoolWallet S legit? This is one question a lot of you probably have in mind since this wallet is not so popular. Despite the minimal reviews online, this wallet is legit and cool just as its name suggests.
Community Trust – CoolWallet S doesn’t have a lot of fans at the moment despite its elegant and security features. It is, however, only a matter of time before this wallet gains popularity. The company is yet to do aggressive marketing on this product, but it will gain popularity and be among the best in this industry.
Security – This wallet has awesome security features. It, for instance, has “watchdog” security feature that activates when the wallet is about 10 meters away from any of its paired devices. In case your card is stolen, and you come 10 meters close to it, your device alerts you to its presence. In addition to that, it is a cold storage device that is 100% disconnected from the internet. The only way one can get access to your coins is by accessing your password and stealing your card. It also has two-factor authentication feature. Being mobile, it is safer than desktop and browser wallets. One has to get access to your phone and card and have intimate knowledge of your digital trading patterns. CoolBitX does not keep any of your keys or data. It is completely within your control. Any security breach can only be initiated by the manner in which you use the wallet.
Customer Support – If for instance, you have a query regarding any functionality on your CoolWallet card, you can simply contact the company for clarification. If it’s an urgent query, reach them through their social media pages for a prompt response. Otherwise, you can simply send them an email and they will reply shortly.
Coins Backup – You are provided with a backup card where you write your backup number seed. Make a point of writing it down since if you lose it, you cannot recover your cryptocurrencies. It is possible though to get a new device and recover your coins in case of losing the wallet.
Ease of Use- It is very easy to use CoolWallet S. It comes with an instruction manual that is really simple to follow. When you get your card, simply turn it on using the power button. Put the Bluetooth feature on and pair it with your device. That’s all you need to do to get it going.
How to use CoolWallet S?
Setting up this wallet is very easy.
Setting up your CoolWallet
CoolWallet S Review Summary
We’ve gone through the main features of CoolWallet S. While it is not as popular as other hardware wallets, it is the first of its kind in this industry. It is a fine hardware wallet that fits nicely into your pocket. You can go anywhere with it and it easy to use thus suited to both newbies and high rollers.
Here is a summary of some of its cool features
- Wireless connectivity. You can connect via Bluetooth.
- It is very secure considering that is a cold storage device
- This wallet has good security features such as the two-factor authentication.
- The CoolWallet is amazingly user-friendly.
- It is waterproof and can bend up to 15 degrees.
- It has a power and a control button as well as a display screen. These controls are easy to use.
- It comes with a backup card for your backup
- It is heat resistant.
If you are the type of person who is need of a secure and convenient way to store your Bitcoins, then CoolWallet S is for you. If you are thinking of becoming a Bitcoin trader, CoolWallet is definitely for you. Consider trying out this wallet to keep your Bitcoin and other digital coins. You’ll definitely like it.
Thank you for checking out this review. For more information on hardware wallets and more, check our site.