Cold Coin GOLD promises to be the best cold storage bitcoin wallet. Find out how it securely stores your bitcoins today in our review.
What is Cold Coin GOLD?
Cold Coin GOLD is a lineup of bitcoin cold storage wallets – similar to Trezor, Nano, and other popular brands.
However, unlike Trezor, Nano, and other cold storage solutions, Cold Coin is a legitimate, physical coin. The company’s flagship product is Cold Coin Gold, a wallet that promises to be “the best cold storage bitcoin wallet.” It’s a 24K gold-plated 40mm coin with your paper wallet paraphrase code and private key embedded. There’s no USB connectivity.
You don’t need special software to interact with the coin. It’s just a physical coin equipped with a sealed private key – kind of like a more advanced paper wallet.
The wallet is available for purchase today from ColdCoinBitcoin.com at a price of $39 USD. The wallet is made by an Australia-based manufacturer. They started shipping wallets to customers in February 2018.
How Does Cold Coin Gold Work?
Cold Coin Gold is a physical bitcoin wallet. It’s built off paper wallet blockchain open source software, described as “the most secure cold storage solution for storing crypto currencies.”
The use of paper wallet technology is important because Cold Coin can avoid the use of any specialized software, apps, or electrical devices. There’s no need for cables or any mess. You add funds from any bitcoin exchange or digital wallet to your coin’s wallet key.
The transaction process on Cold Coin Gold is designed to be as secure as possible. The wallet uses two factor authentication (a paraphrase) to secure transactions. Your transaction cannot be tampered without your unique paraphrase code and your coin’s private key.
A backup coin can be purchased for your own security. Otherwise, without a backup coin, you will not have an alternative way to access your funds: Cold Coin does not know your paraphrase. Plus, no private keys are stored online.
The coin itself is a 24K gold plated 40mm coin featuring a foil holographic security seal with your mintage number. If you need to transfer money away from that coin, or withdraw money, then you break the seal to reveal a private key.
How to Use Cold Coin Gold
Cold Coin is a cold storage solution designed best for long-term bitcoin storage, “making it the safest form of crypto storage of any digital solution,” explains the official website.
Step 1) Generate:
After purchasing your Cold Coin Gold wallet, you will create a unique paraphrase cold that you will need to save, store, and remember. This will generate a bitcoin wallet that Cold Coin receives to create your coin.
Step 2) Transfer In:
When you receive and open your package, you’ll have your Coin Wallet QR code. You can use this code when transferring funds into your coin from a digital wallet, exchange, or ATM.
Step 3) Manage Through a Dashboard:
Cold Coin has a dashboard. You can login to your online account dashboard to view your Coin Wallets and stored funds balance.
If you want to transfer bitcoin out from your coin, back onto an exchange, a digital wallet, or ATM, then you just need to peel the security seal sticker on the back of the coin to reveal the private key and enter your paraphrase code when prompted.
Features and Benefits of Cold Coin Gold
Cold Coin Gold advertises all of the following features and benefits:
- No Specialized Software: Cold Coin Gold requires no wires, mess, or specialized software. You simply transfer funds to and from an exchange, digital wallet, or ATM when needed.
- Backup and Restoration: The Cold Coin Gold keys are backed up offline, which means you can order a replacement anytime. All you need to do is keep your paraphrase safe with you.
- Gold Plated Coin: The Cold Coin Gold coin itself is a 40K gold plated 40mm coin.
- Two Factor Authentication: Cold Coin Gold transactions require two things – the private key and the paraphrase. You’ll need both to complete a transaction.
Cold Coin Gold is priced at $39 USD. You can also order a backup coin for $28.
Who’s Behind Cold Coin Gold?
Cold Coin Gold is made by a Melbourne, Australia-based company named Cold Coin Bitcoin. That company launched its coin in February 2018, with the company itself launching in 2017.
Cold Coin GOLD Conclusion
Cold Coin Gold is a physical bitcoin wallet that stores bitcoin value. The wallet comes in the form of a physical, gold-plated coin. That coin features a security seal covering the private key. The private key can be used to transfer bitcoin to an exchange, an ATM, or a hardware wallet. You can use Cold Coin Gold to securely store your bitcoin over time.
Overall, Cold Coin Gold is like a more intense version of a paper wallet. The coin is priced at $39 and available online today through ColdCoinBitcoin.com.
Right now, Cold Coin Bitcoin has just released their flagship product, the physical gold coin called the Cold Coin Gold. However, more products may be released in the future.