Storing your cryptocurrencies safely is essential for all investors. And using cloud and untrustworthy wallets is a losing game that leaves you vulnerable to hackers.

Today we’ll be looking at a hardware wallet known for its security, Coolwallet Pro.

So let’s jump right in!

The CoolWallet Pro is a cold wallet released in May of 2021. With the hardware wallet users send, store and receive a wide array of digital currencies. The wallet is built by the Taiwanese tech company CoolBitX, that also produces the well known CoolWallet S..

The CoolWallet Pro is meant to be its next-generation successor to the CoolWallet S. The former is more focused on providing a simple way to store and trade crypto while the latter focuses on advanced software designed to increase security and allow users to earn crypto with staking.

The CoolWallet Pro is a cryptocurrency cold or hardware wallet that allows for  the storage of a wide array of cryptocurrencies that can be staked. The wallet size is of a credit card making it flexible and ideal for everyday use.

 It also has next generation software that offers users an extremely high level of security for the stored crypto and not only that the CoolWallet Pro also lets users stake their coins.

Read also: Coolwallet PRO vs Ledger Nano – What Hardware Wallet Is Better?

The CoolWallet Pro hardware wallet is like we mentioned earlier no bigger than the standard credit card. The wallet is 0.8mm thick and weighs 6 grams, making it easy to fit in any wallet. Another layer of durability is added by its tamper-proof and waterproof characteristics.

Not only is the CoolWallet Pro a multi-currency wallet that allows users to  earn staking rewards on Cosmos, Tron and Polkadot. The small selection of stackable asset is without a doubt the biggest con I found with the platform.

Fortunately, CoolWallet has stated plans to add support for coins such as Tezos, Cardano and ETH2.0 tokens in the future. Investors want to have a wide array of options when choosing how to earn passive income, 3 just won’t be enough. So adding new supported coins is a massive step in the right direction, to mainstream addoption.

Another feature that adds to the wallet’s portability is the ability to link to hardware wallets. In fact the CoolWallet Pro can connect users with Android or iOS devices all via Bluetooth.

Linking the wallet to mobile devices also allows for 2FA for increased security that supports biometric login. Additionally users can even view their crypto and swap , all through the mobile device which directly links to the cold storage device.

Crypto is no stranger to hacks and security breaches particularly exchanges and cloud wallets. Fortunately hardware wallet and CoolWalletPro do not suffer from this problem. In fact the wallet uses a CC EAL 6+ Military grade security chip which makes your funds practically unstealable.

The chip goes through a rigorous process of security engineering techniques also used in the banking system. All this to create a wallet for storing high-value assets. This way CoolWallet Pro combines both security and flexibility, making it ideal for a lot of uses.

The CoolWallet Pro comes in at $149 and can be purchased on the CoolBitX website, resellers stores Australia or on Amazon.com. That’s quite a competitive price in hardware wallet space compared to products like Ledger Nano and the Trezor series. And if you are looking to spend even less, the older CoolWallet S model costs only $99.

CoolWallet Pro is powered on a 3V lithium-ion rechargeable battery, if fully charged it can last a whooping 2-3 weeks. The battery life on CoolWallet Pro is all around okay. The battery duration is significantly less than other flagship leaders in the space such as Ledger Nano X which have a battery life that lasts 2-3 months.

The CoolWallet Pro stores 16 major crypto assets including support for ERC-20 and TRC20 tokens, such as USDT / USDJ / JUST / WBTT / WIN. Which is  3 more than the older CoolWallet S model.

 CoolBitX has stated that it intends expanding their support and has for ETH 2.0, Tezos and Cardano in the near future this also means that users are going to be able to stake these coins. For the complete list of support cryptocurrencies visit this link.

CoolWallet Pro connects to a device without  needing an internet connection via an encrypted Bluetooth connection that has a 10-metre radius. The CoolBitX app is used to interact with the wallet. And it works as it should, averaging as of 4.5/5 on the Google Playstore.  The app allows  for the monitoring of wallet balances, sending and receiving crypto as well as exchanging coins.

On the ‘wallet’ tab users get a general overview of all the crypto assets they hold. Both in cold storage devices and the amount of the equivalent in FIAT. This ability to monitor funds is excellent, as it’s essentially like a bank account without the downside of centralization.

On the CoolWallet Pro app, users can easily use the ‘receive’ tab generating a QR code or public address.  Users can then create multiple addresses and share them with others. And with the ‘send’ interface you can select a coin, enter the crypto address, choose the amount. Users will then be asked to verify the transaction on the CoolBitX app.

On the ‘trade’ tab crypto,can be exchanged through cryptocurrency trading platforms, decentralized exchanges (DEX) or instant swap exchanges but all via the CoolBitX app. By buying crypto directly on an exchange and sending it to the CoolWallet Pro with no intermediaries the risk of hackings or security breaches is vastly diminished.

When buying a CoolWallet Pro you’ll receive a well-packaged box that includes wrapped in plastic and sealed with a tamper-evident sticker. This is standard in the industry as an intact security label is proof that the package has not been tampered.  Nothing out of the ordinary but it’s always good to see.

Here is a list of items included:

I also advise against buying the CoolWallet Pro through a non-official retailer as it could have malware installed, resulting in your funds being stolen.

Setting up the CoolWallet Pro is surprisingly easy and only takes a couple minutes. The box also includes a manual with step-by-step instructions on how to configure a wallet and pair it with a mobile device.

The first thing to do is download the CoolBitX app found on AppStore or Google Play. The app like we mentioned earlier allows users to interact with their wallet via a mobile phone.

To charge the CoolWallet Pro connect the charger and stick in a USB slot of a computer or laptop. The Wallet has to also be charging at any firmware updates. It takes 4 hours to fully charge, and the battery can last in idle  mode for 2 months

After you’ve installed the CoolBitX app, open it and pair it to a mobile device via the encrypted Bluetooth. Once done a one-time password (OTP) is sent to your phone which you’ll use to confirm the pairing to the CoolWallet Pro. The last step is to click ‘Connect’ and complete the pairing.

Now that you’ve completed all the previous steps, you can create a wallet and a new seed phrase with a 12, 18, or 24 number set is created. Of course as you can imagine the higher number of characters you have the greater level of security. Remember to write down seed phrases on the seed cards so your device is backed up. If your CoolWallet Pro or device is lost or stolen, you can use the seed phrase to restore the funds.

Once the code is verified, the wallet is active and you can use the app to send, store and receive cryptocurrency

For a good review we need to know how CoolWallet Pro goes up against its predecessor. Is the higher price justified?

The wallets are practically identical in terms of size, flexibility and weight. Both connect to Android and iOS devices via the encrypted Bluetooth function.

The first real difference is that CoolWallet Pro offers more security within the chipset and support for 3 more major cryptocurrencies. Another improvement is the adding of staking features and DeFi, Dapps and NTF integration. Overall the CoolWallet Pro does offer newer and better features compared to the older model.

Users that are having technical difficulties can access the guide explaining the basics of the CoolWallet Pro accounts and all the features of the CoolBitX website. The FAQ page also offers all answers and general information needed to solve the issues that may arise from using the  wallet. Additionally if you are still having issues with the product write an email to [email protected].

Unfortunately CoolWallet does not offer 24/7 customer support or even a live which is a problem if in urgent need. Absolutely not what you want to see, when it comes to money support should be always available.

But it is to be noted that the quality and speed of their query responses is by all accounts impressive. But the fact that it’s not support isn’t live is to be noted.

Yes, CoolWallet Pro is extremely safe. In fact it’s among the most secure hardware wallets on the market thanks to the CC EAL 6+ security chip. This chip is superior to most competitors, the Cool Wallet S as well as the flagship Ledger Nano X wallet only use an older CC EAL 5+ chipset.The CoolWallet products have not suffered from any security breaches or hacks.

At the time of writing  staking is only supported on blockchains such Cosmos (ATOM), Tron (TRX) and Polkadot (DOT). Although the company has stated plans to add more supported blockchains soon.

DeFi, Dapp and NFT were meant to be available on the CoolWallet Pro in Q3 2021, but the date got pushed back. The company stated that it will soon be available.

The CoolWallet Pro is a worthwhile product. For starters what impresses me is how easily you can link it to an Android or iOS mobile device. Then use the CoolBitX app to view your funds, send and receive crypto and interact with the wallet through the mobile.

Additionally the CoolWallet Pro offers much needed features such as encrypted Bluetooth integration, staking, access to DApps and direct trading via the Binance DEX.

There’s also some cons as you can expect. For instance more staking coins should be supported and staking benefits as well as crypto lending to earn interest could be added. Fortunately Ethereum 2.0 is bound to be supported on the wallet soon and that’s without a doubt a step in the right direction.

These features are essential in a crypto wallet and their absence does not pass unnoticed. Investors are increasingly starting to look at wallets as a sort of savings account, which means they want to earn passive income through lending or staking. So improving this point would without a doubt take the CoolWallet Pro to the next level.

The CoolWallet Pro battery can last  2 to 3 weeks. That’s all around decent but nothing special. Other competitors such as the Ledger Nano X last several months idle from a full charge.

Overall, even considering some faults the CoolWallet Pro is a good product. Hopefully the issue such as the lack of passive income options and coin support will be soon resolved. Althought without a doubt coming at only $149, significantly less than other competitors, CoolWallet Pro is a decent choice as a budget wallet.

But personally I’d wait for more supported coins and functions before I’d buy.

Make sure to check out our guides on other cryptocurrency wallets:

The post CoolWallet Pro Review [2022] – Supported Coins, Security, Price appeared first on CaptainAltcoin.

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