Most of the cryptocurrency hardware wallets in the market connect the wallet to the computer using a USB stick. Well, the Cool Wallet S is not an ordinary wallet. It connects to devices wirelessly using Bluetooth or near field communication (NFC). This wireless connectivity feature provides a convenience and portability advantage that misses on other hardware wallets.
The Cool Wallet S is compatible with any device that runs on Android 5, iOS 9.1, or higher versions of the two operating systems. It is a multi-currency wallet and allows users to store and transfer Bitcoin, Ether, Litecoin, Ripple, Icon, and ERC20 tokens.
How to set up the Cool Wallet S
- Using your Android or Apple device, download the Cool Wallet S application from the Google store or Apple app store.
- Run the application on your device and check that the serial number displayed in the app is the same as the one on the top left corner of your hardware wallet.
- Click on the connect button displayed.
- Enter the one-time password in the app, tap pair, and simultaneously press the button on your cool wallet S to connect the two.
- The app will then give you a pairing password that you can use when you want to pair the hardware wallet with other devices.
- After the connection is confirmed click on ‘create’ to begin creating a new wallet.
- The application will require you to confirm the length of the seed phrase that you want it to create. Record the generated seed and store it in a safe location because you will use it to restore your wallet in case your account details get lost.
- Verify the seed in the application to complete setting up your Col Wallet S.
- You can now add currency to your wallet by clicking the receive button and specifying the address the funds come from.
Cool Wallet S security
The hardware wallet is fitted with several security features to help protect your cryptocurrency.
- The wallet stores your crypto private keys in an Eal5+ certified microchip and retrieves them only when you are making transactions to ensure safety.
- Regardless of users’ concern that the Bluetooth feature is not entirely secure, the company maintains that syncing is done by highly encrypted Bluetooth technology that is free from vulnerabilities.
- When making transfers using the cool wallet S, you need to make several confirmations and transaction reviews in both the application and hardware device before you can click send.
- The Cool Wallet S allows a user to set the desired length of the security seed between a set of either 12, 14, or 18 words when they are creating a new wallet.
Advantages of the Cool Wallet S
a.The hardware wallet has a sleek shape and size compared to other hardware wallets. Setting up the wallet is easy and fast and would likely take less than 5 minutes to complete. The user interface of its app is user-friendly and easy to navigate. Making transactions with the Cool Wallet S is also relatively simple and quick, likely to take less than 2 minutes. The wallet combines good user-experience and impeccable security features to provide a good store for cryptocurrency.
b.The wallet supports 2-factor verification for transactions making hacking difficult. It also enhances security by requiring multiple confirmations before completing transactions. The fact that the wallet keeps private keys in cold storage in a microchip also adds the level of protection.
c.Supports multiple currencies and it allows direct crypto to crypto swap and also allows exchanges via Changely.
Cons of the Cool Wallet S
a.Unfortunately, the hardware wallet does not support some popular currencies, which is a disadvantage to multi-currency enthusiasts.
b.It’s relatively expensive when compared to other wallets. Users can find cheaper hardware wallets that support more cryptocurrencies than the Cool Wallet S.
c.The app is created using a closed source code. Users prefer open source code because they are easier to monitor and debug in case of errors that may cause insecurity.
The impressive physical design of the Cool Wallet S, together with the numerous features like Bluetooth connectivity make the wallet one of the best in the market. The hardware wallet also has enhanced security features, which make it the right home for your cryptocurrency.
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