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Imagine this scenario…
You wake up one morning and check your Bitcoin wallet as usual.
But there is one problem: You cannot access your encryption.
What do you do?
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Protecting your encryption doesn’t just involve storing your private keys offline in a file Cold hardware wallet But also using a cold wallet backup.
the Coldbit Steel Wallet It is a seed phrase wallet, designed to protect your Bitcoin seed phrase.
This wallet is made of stainless steel and has many unique features and functions making it an interesting choice for a coin cryptocurrency wallet.
What is a cold backup wallet and seed phrase storage?
If you have already bought some cryptocurrencies or are thinking about investing, you should have already heard of the terms “Cold wallet“and”Seed phrase“.
Some people feel that these terms are too technical and may reject them.
But we’re here to tell you that this is it Vital tools to use to protect your encryption.
Cool wallets
There are different types of crypto wallets available.
Most beginners prefer to stick to online wallets and exchanges, thinking that it is easier.
But, in reality, to protect your Bitcoin and other cryptocurrencies, you should really use the best hardware wallets.
Fortunately for you, most cold hardware wallets are fairly straightforward and easy to use.
The hardware wallet is divided into: Two categories:
1️⃣Hardware wallets (usually USB-like devices) such as Trezor, BitBox02, and D’Cent Wallet.
2️⃣Non-electronic cold storage wallets, such as Bitcoin.
What’s great about these wallets is that they keep your private keys on the physical device and never connect to the internet.
Cold wallets go beyond this because they don’t even need to connect to other devices, such as mobile phones or computers.
This means they provide true 100% offline experienceThis makes it immune to online hacking or malware threats.
Store the seed phrase
The seed phrase is a string of words that make up a passcode for your cryptocurrency. It can be 12, 18 or 24 words.
Your specific seed phrase allows you to recover your cryptocurrencies if your wallet is damaged, lost or stolen.
It is essential to store your seed phrase securely because anyone who has access to it can now access and control all of your cryptocurrencies.
Invest in a high-quality cold wallet backup, e.g Coldbit Steel Walletensures that your seed phrase is stored safely.
Risks of not using seed statement storage
➡️Digital threats:
The Internet is an ungovernable place where your cryptocurrencies and personal information can be present hacked Or attack who Malware and Phishing scams. Without a cold wallet and secure recovery of seed phrases, your cryptocurrencies will be open to these digital thieves.
➡️Physical threats:
Apart from digital risks, you have to take into consideration physical threats such as fire, Water damageor Daily wear and tear. That’s why just writing your recovery phrase on a piece of paper is not the best idea!
Coldbit Steel Wallet
Made from solid stainless steel, this wallet is designed to withstand almost all the elements and natural disasters.
🔥Fire resistant: The Coldbit Steel Wallet can withstand extreme temperatures of up to 2100 degrees Fahrenheit.
🌊waterproof: Made of high-quality stainless steel, this wallet will not disintegrate or corrode if immersed in water.
⚡Elegant design: 4mm thick stamping plate and 2mm thick lid and includes a metal box for additional storage.
Coldbit Steel Wallet – Its Features and Functions
The Coldbit Steel Wallet is manufactured by Coldbit, who also have a variety of other seed phrase storage options available.
Builds: The Coldbit Steel Wallet comes with two panels. One is a 2mm thick cover plate and the other is a 4mm thick base plate where you will stamp your recovery phrase.
Both panels are secured together using two nickel posts and are placed inside a sturdy metal box for added protection.
Maximum durability: Made of 304 grade stainless steel, this high quality material is very resistant to weathering.
Focused on security: It supports BIP39 metaphrases (the industry standard for cryptographic recovery phrases). It does not contain electronic components, so there are no hacking or malfunctioning problems.
Customization: Supports 12, 18, or 24 word seed phrases, and is compatible with many popular hardware wallets.
Portability: It is small in size and can be placed in the palm of your hand. However, it is heavier than other coin wallets.
price: The price of the Coldbit Steel Wallet ranges between $82 and $106, depending on whether you choose to include the A-Z letter stamp set with your wallet.
If you prefer to purchase the letter stamps separately, they are available for $24, and an additional digital set sells for $13.
How to use Coldbit Steel Wallet
Once you have your seed phrase and are ready to store it in your Coldbit Steel wallet, you should be prepared to put a little sweat, effort and time into it.
Step by step tutorial
1. Unbox your Coldbit steel wallet
You will find the two steel plates, nickel connecting posts, a test plate (to practice hammer swings before stamping on the real plate), and an instruction manual.
2. Get your tools together
Once your initial statement is ready, you’ll need to prepare your A to Z metal letter stamps, your 3.5 pound hammer, and a hard surface to work on.
3. Practice sealing
Before you hammer your first letter on your spare metal card, use a test pad to make sure things are swinging. This is a good way to indicate the strength you will need and the distance you should maintain between the letters.
4. Prepare your seed phrase
Double-check each word. Just making one mistake can lock you out of access to your Bitcoin forever!
For BIP39 initial phrases, you only need the first four letters of each word.
5. Stamp your seed phrase on the steel plate
Place the 4mm steel plate on a flat, hard surface. Hold the stamp firmly where you want the message to be and give a firm sound.
You may need to press the stamp several times to properly engrave the letter.
advice: Take your time!
Making one mistake can affect the integrity of your cold reserve wallet, so don’t rush this process.
6. Secure the panels together
Once you have all the initial words stamped, you should place the cover plate on top of the stamped plate and insert the binding posts. Tie them tightly so they don’t come apart.
7. Store your Coldbit steel wallet safely
Do not leave your Coldbit Steel Wallet in plain sight or in obvious places. Consider using a home safe or safety deposit box for convenient storage.
Pros and Cons of Coldbit Steel Wallet
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Who is the best Coldbit Steel wallet?
The Coldbit Steel Wallet is a good choice for cryptocurrency investors who have a large stash of Bitcoin and want to prioritize the security of their initial statements.
It is especially recommended for long-term Bitcoin holders, who plan to store it for years to come.
If you’re someone who doesn’t mind investing time and effort into a meticulous setup process, the Coldbit Steel Wallet offers a solid security solution.
However, this wallet may not be the best for everyone.
If you’re looking for a straightforward setup, the Coldbit Steel Wallet’s time-consuming manual stamping process can be a major drawback.
Alternatively, there is a more user-friendly alternative without compromising on durability and safety, which is DIY.
DIY materials Much easier to use, eliminating the need to manually stamp and clasp together and separate plates.
Made from high-quality stainless steel, it provides the same protection against physical threats while keeping your seed phrase safe from unauthorized access.
You simply engrave your seed phrase onto a single metal plate using the included tungsten pen.
It’s that easy.
Secure your encryption
Coldbit Steel Wallet protects your device Bitcoin seed phraseWith durability features.
On the other hand, some users may find stamping each letter tedious and time-consuming.
Regardless of your Crypto backup wallet Choice, just make sure you use one and store it in a safe place.
Frequently asked questions
What is Coldbit Steel Wallet?
- It is a stainless steel device designed to securely store your crypto seed phrase offline.
How do I protect my seed phrase?
- Stamping your seed phrase onto fireproof, waterproof and corrosion-resistant steel panels ensures durability against environmental hazards.
Is it easy to set up?
- It requires hand stamping the seed phrase onto the plates. Although it takes precision, the wallet includes a training board to help you do it right.
What happens if I make a mistake?
- Since the stamp is permanent, errors cannot be erased. It is important to double check each letter before stamping to avoid mistakes.
Is there a simpler alternative?
- Yes, options like Material DIY provide easier setups without compromising on security and durability.
