Every cryptocurrency trader or investor should own a good hardware wallet such as the Coinkite Cold Card Wallet. This might not sound pleasing at first to some investorswho may not consider the reasons why they should invest in one.
But when you think about the odds of losingcryptoto thefts and hacks that do occur on Exchange-issued wallets, then spending a few dollars on a hardware wallet may be well worth it in the long run.
Key Takeaways
•The Coinkite cold card wallet’s distinguishing feature is that it only works with Bitcoin making it different from other wallets such as Ledger and Trezor which supports hundreds of cryptocurrencies.
•Coinkite coldcard wallet is secure, emphasizing the ability to do everything on the device without the use of any external hardware.
Coinkite cold wallets have shown how much value they bring to the table to investors by ensuring that backing up cryptocurrency holdings is as seamless as can be, it is built to be firm and impenetrable.
This is because for every transaction an investor wants to undertake, they must press physically on the device ensuring that the crypto holdings are kept safe and secure.
As a form of principle, investors should investin a Coinkite cold wallet if the amount used to purchase it is far less than the actual value of their cryptocurrency holdings.
With that in mind, let’s take a look at the user-friendly features of the Coinkite cold card wallet.
SEE ALSO: Coinkite Cold Hard Wallet Vs Ledger Nano X – Which is Better?
1. The Coinkite Cold Card Wallet is Quite Large
One unique feature about the Coinkite cold cardwallet is that it has one of the biggest sizes investors can find among hardware wallets.
The Coinkite wallet is shaped like a scientific calculator and is probably around the same size unlike the likes of other wallets such as the Trezor and Ledger wallets which are the size of USB thumb drives.
This might seem like some sort of disadvantage at first because of the inability of the Coinkite wallet to be concealed in small and tight spaces.
However, it brings a huge advantage to the table through its full numeric keypad which allows investors to easily input their data at a very fast rate.
This is in contrast to Ledger and Trezor wallets which have only two buttons making it quite tasking to input passwords and explore their menus.
2. CoinKite Cold Card Only Supports Bitcoin
The Coinkite cold card wallet’s other distinguishing feature is that it only works with Bitcoin which makes it different from other hardware wallets such as Ledger and Trezor which supports hundreds of cryptocurrencies.
As a result, when compared to other wallets, the Coinkite cold card wallet’s functionality is severely limited. It is primarily intended for Bitcoin investors and only Bitcoin investors.
3. Better Security
The primary selling point of the Coinkite coldcard wallet is security. It emphasizes the ability to do everything on the device without the use of any external hardware. It incorporates in it a diversified number of features that might not be accessible in other hardware wallets.
4. It Has an Air Gap Support
An air-gapped device can function quite effectively without the need for an internet or internet connection reducing drastically the chances of cyber hacking.
The Coinkite cold card wallet made it known that it is the only wallet that incorporates the usage of the air-gapped device without requiring users to do too much.
Investors can activate their wallets, store funds in them, and even carry out multiple transfers and transactions without ever needing an internet connection.
Knowing how to utilize this air-gapped device might not be something that can be easily grasped within a short period but trust me it has cemented its place in terms of 100% security.
5. Provision for a Micro-SD Card
The Coinkite cold card wallet is the only hardware wallet that has made provisions for the use of a Micro-SD card. The Micro-SD card grants investors the ability to backup the seed phrase of the Coinkite wallet without the need for putting it down on paper.
Lastly, the Micro-SD card provides a means of undertaking bitcoin transactions without the need for an internet connection.
6. It Features a Duress Pin
The Coinkite coldcard wallet provides ways for an investor to have a unique pin thatcan open another bitcoin wallet different from the original wallet.
So, if you have $10,000 in Bitcoin in the main wallet, you could put $200 in the duress wallet, and if you were forced to open the Coldcard, you could load the duress wallet without ever revealing that you have significantly more funds in the main wallet.
This is an awesome development in the sense that it can help curb the $5 wrench attack and its effects.
SEE ALSO: Coinkite Cold Hard Wallet Vs Ledger Nano X – Which is Better?
Frequently Asked Questions (FAQ)
1. What is the Definition of a Coinkite Cold Card Hardware Wallet?
Coinkite cold card is an easy-to-use, ultra-secure, open-source, and reasonably priced hardware wallet that can be backed up to an encrypted microSD card.
Your private key is kept safe in a security chip. This wallet is loaded from the device’s secure specialized environment.
2. Is the Coinkite Cold Card Wallet the Most Secure?
When it comes to security, the Coldcard is without a doubt one of the most secure Bitcoin hardware wallets available. The device includes a plethora of security features and design considerations, all of which combine to make it a virtual fortress for your Bitcoin.
3. Is it Worthwhile to Invest in a Hardware Wallet?
It is very much worthwhile to invest in a hardware wallet as even for small amounts, hardware wallets are a good investment because they protect your private keys and provide peace of mind that software wallets do not provide.
SEE ALSO: BitBox02 Hardware Wallets – Why You Should Buy One
Final Thoughts
Investing in a hardware wallet such as Coinkite is a very wise thing to do. As not only will your bitcoins be safe, but you also get to enjoy other great features present in the Coinkitecold card wallet.
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