When it comes to cryptocurrency, you can never underestimate the importance of a high-quality wallet. We’ve previously looked at leading wallet options, but we’ve recently discovered a brand-new contender for the cold wallet crown. The Coolwallet S has generated plenty of buzz, as the credit card size hardware wallet has become the lead product for Taiwanese fintech company Coolbitx.
Backed by the masses
Before we jump into the Coolwallet S and explain why it has become the most talked about hard wallet in some time, it’s worth looking at the company behind the product. Coolbitx was founded by Michael Ou back in 2014, with the brand creating smart contract development platforms and digital asset hardware wallets. Back in the early days, Coolbitx was dealing with major technological limitations. That was until the wallet creators launched an Indiegogo campaign. 184 people backed the company, with notable companies in the form of Midana Capital, Bitmain Technologies, Kyber Capital, and SBI Holdings also backing the brand’s newest idea.
Premium price, premium product
The Indiegogo campaign thrust Coolbitx into the spotlight, with serious pressure riding on the company’s shoulders. It’s clear that Coolbitx needed to step up and create something special. Costing $189, the Coolwallet S is one of the more expensive hardware wallets on the market, but its premium price does correlate to a premium product. It’s the size of a standard credit card, with a unique front-facing display that shows the wallet’s key data – such as current balances. The Coolwallet S is able to hold five leading digital currencies at this point, covering Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH).
Some impressive credentials
The core credentials of the Coolwallet S are extremely impressive, but it’s the devices added features that push it over the top. Each Coolwallet S is waterproof, fire resistant, and flexible, with it carrying impressive connectivity as well. Data is sent from the device using both NFC and Bluetooth, while it’s also possible to tether it to a mobile app via iOS or Android. Total end-to-end control is also assured, as it comes complete with a tamper-proof EAL5+ certified Secure Element microchip. Throw the power dock into the mix and it’s easy to understand why people are talking about the Coolwallet S.
Costing a princely sum
We mentioned it earlier, but there is something simply unignorable about the Coolwallet S – and that’s the price. At $189, it’s going to hit your standard currency wallet hard (there’s no crypto purchase option right now), as it’s an upscale product without question. The brand is currently running an offer on two devices, dubbed the “Duo”, which costs $299. But, this deal doesn’t do much to soften the cost of the Coolwallet S.
Will the Coolwallet S change the game?
We agree that the crypto market has been waiting for a wallet such as this to arrive for some time. The Coolwallet S is a wallet that’s making waves, and it’s something that the BitStarz team has certainly been intrigued by. However, much like with other wallets that attempt to be a credit card-esque device, time will tell if it proves to be the real deal or not.
