Just How ‘Cool’ is the CoolWallet S? (Review)
The CoolWallet S by CoolBitX is a credit-card-like hardware wallet for storing Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and select ERC20 tokens — but just how “cool” is it? Let’s find out!
Design
First and foremost, let’s get one thing straight — you’re not going to find a ‘cooler’ looking hardware wallet anywhere on the market today.
Coming packaged in a black and gold box that looks fit to hold a luxury watch — with a personal message from CEO Michael Ou printed in gold lettering on the inside cover — the CoolWallet S offers a distinctively premium feel from the moment one unpacks it.
The package itself contains a charging dock and accompanying USB connector, a user manual, a nice-looking recovery card for handwriting your unique seed phrase, a black-on-transparent logo sticker, and — of course — the CoolWallet S, itself. And what a wallet it is!
The CoolWallet S resembles a credit card from the exterior and boasts a slick and classy-looking black and gold design which holds itself back from appearing flashy — opting instead for an understated, business-like vibe.
The back of the card has little more than a discrete serial number printed on the top, just above an appealing E-Paper display. Halfway down the right side of the card is a single button for powering on the device, changing the displayed cryptocurrency, and confirming commands. The bottom of the device features more discrete text beneath two charging pins. The button on the unit I reviewed had a response click requiring a concerted press.
The card itself is waterproof, tamper-proof, impact resistant, and heat/cold resistant — though, to be fair, I wouldn’t recommend testing these claims. The card features an acceptable amount of flex, though I would also caution against seeing how far it can fold. Still, it can easily slip into a normal pocket wallet with your IDs and credit cards, and I wouldn’t worry about it breaking any more than I’d worry about my American Express card snapping in my pocket.
All in all, the CoolWallet S’ professional appearance and durable feel are significantly cooler than any other hardware wallet on the market.
Security and Functionality
While the CoolWallet S certainly lives up to its name in terms of physical appearance, a hardware wallet is nothing without user-friendly functionality and security. Luckily, it also lives up to its name on both of those fronts.
Setting up the CoolWallet S for the first time is a simple process, but requires an iOS or Android app to function. Users simply need to download and install the application before pairing it to their device via Bluetooth with a one-time password — after which users are prompted to create a new wallet.
New wallets can be generated with 12, 18, or 24-number security seeds — meaning that amount of numeric phrases will be generated. I opted for a 24-number-phrase seed, which admittedly took a long time to write down.
After copying the numbers, users are then asked to add up the sum of all the phrases — a time-consuming task, even with a calculator. However, when it comes to security and ‘being your own bank,’ I wouldn’t dock any hardware wallet for forcing its users to take a careful and considered approach to secure their funds. If you’re not willing to dedicate time and effort to secure your wallet, you might want to question whether or not a hardware wallet is even for you.
Once your wallet is set up, funds can be easily deposited or withdrawn using the linked smartphone app — which is both intuitive and user-friendly. QR codes and wallet addresses can easily be shared across the typical social network or messaging services, and every transaction I made worked without a hitch. (Though users should note that funds will not show up on the actual card’s E-Paper screen itself until refreshed via the smartphone app, for the sake of keeping the wallet itself offline.)
Currently, only a limited selection of altcoins are available for storage — though EOS support was added recently. In terms of ERC20 tokens, only Tether (USDT), WETH (WETH), JoyToken (JOY), and JAYZ (JAYZ) are supported, though plans are currently in the works to eventually support all ERC20 tokens and every major altcoin.
Verdict
There are plenty of hardware wallets on the market to choose from, but the CoolWallet S stands out from the crowd with its slick and professional design, robust security measures, and user-friendly smartphone integration. It’s hard to find fault with the product, especially with plans to continually support more and more altcoins.
What do you think about the CoolWallet S? Let us know in the comments below!
Images courtesy of CoolBitX.
[Disclosure: The CoolWallet S unit Bitcoinist reviewed was provided free-of-charge by CoolBitX for the purpose of review.]
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