Security has always been the top priority when it comes to money, and the cryptocurrency space is no different than the economy for fiat money.
While blockchain technology has remedied a lot of security risks, it has also presented users with new ones. That’s why steel wallets have now become a big trend in crypto-security.
In this article, we’ll cover…
Get ready to take your cryptocurrency security to the next level with one of these beauties.
The downside of hardware wallets is that you can lose all your Bitcoins if you accidentally break or misplace your wallet – or it gets stolen.
That’s where the seed phrase comes in.
It’s a combination of random words that enable you to access your Bitcoins on the blockchain in case you lose access to your hardware wallet.
But a seed phrase can also be a major security risk.
If your seed phrase gets into the wrong hands then you can wave goodbye to your Bitcoins even if they’re stored securely on a hardware wallet.
Enter the cryptocurrency steel wallet.
A steel wallet is another cold storage wallet that securely backs up the seed phrase to your other hardware wallets so you never lose access to your Bitcoins.
You could just write down your seed phrase on a piece of paper and store it in a safe place. But that makes it no more secure than a paper wallet – and that’s risky business.
Most steel wallets, on the other hand, are resistant to pretty much anything:
That makes steel wallets almost indestructible. Some manufacturers even go so far as to make videos where they try (and fail) to break them.
Many steel wallets can store multiple seed phrases, so there’s no need to go out and invest in one wallet for every seed phrase you want to back up.
Please note that while most steel wallets are very easy to use, others require you to invest in a hammer, stamping kit, or laser engraver to record your seed phrases.
Now that you know how steel wallets work and why they’re important, it’s time to look at some of the best-selling steel wallets on the market right now.
Billfodl is made from stainless steel (grade 316), which makes it a very tough wallet that is particularly resistant to corrosion. A good choice for the hodler who wants value for money.
Here are a few of the upsides of the Billfodl steel wallet:
There is really only one downside of the Billfodl steel wallet:
You can see how the Billfodl works in the official video here below:
Cryptosteel is made from stainless steel (grade 304) and there are four different options for ordering it. They are: Hex ($79), Mnemonic ($99), Anykey ($149) and Mix ($199).
The Cryptosteel wallet offers many of the same benefits as other wallets:
There are unfortunately also some downsides to Cryptosteel to think about:
You can see how the Cryptosteel wallet works in their official video:
CRYPTOTAG is more expensive titanium wallet than ColdTi because it includes a hammer, 26 letter bits, a bit holder, two plates, earplugs, matches, and an anvil in the package.
The main advantages of CRYPTOTAG come from it’s titanium make:
As with the ColdTi wallet, the only downside is the work involved:
Watch how the CRYPTOTAG works in the official video tutorial:
Blockplate is also a stainless steel wallet (grade 304) that comes with two plates. You fit 12 words on each plate, which are recorded by pressing a single punch tool in the center.
Blockplate sets itself apart from the rest with these benefits:
There is one downside of the Blockplate steel wallet worth considering:
You can see how the Blockplate works in the video here below:
ColdTi is, as the name implies, a titanium wallet. That makes it one of the most durable wallets on our list, which is surprising considering the low price point. But there’s one major drawback.
ColdTi sets itself apart from the other wallets with it’s extreme durability:
There is, however one major drawback of the ColdTi steel wallet:
You can learn how to use the ColdTi wallet in this video below:
The HODLINOX is the lesser-known brand on the market, but no less secure than the others on our list. It’s made from stainless steel and comes in a 3D printed case with a security seal.
There is just one downside of buying the HODLINOX:
As you can see from our comprehensive review, steel wallets serve an important function when it comes to protecting your Bitcoins.
Just to recap what we’ve covered in this guide:
Hopefully, you’ve found a steel wallet that suits your requirements and budget. But watch this space – more manufacturers will no doubt enter the market in the coming years.