CoolWallet S review – Is It Your Hardware Wallet?

CoolWallet S with no pun intended is a very cool and sleek Bluetooth hardware wallet. The wallet is Shaped to look like a credit card as it is thinly veiled to fit inside your wallet. CoolWallet S unique design leaves more questions than answers.

In our review, we will unpack the CoolWallet S and see if this hardware wallet is worth looking into. 

CoolWallet S Background

CoolWallet S was created by Taiwanese company CoolBitx. CoolBitx has been around since 2014 and was founded by Michael Ou. CoolBitx goal as a company is to build a secure and user-friendly blockchain product. 

The CoolBitx team created CoolWallet as an alternative to USB hardware wallets. They felt these types of hardware wallets had some drawbacks in particular accessibility and security. 

With the help of the user crowdfunding platform Indiegogo, CoolWallet was introduced to the masses. 

An updated version of the original CoolWallet was recently created called CoolWallet S. Which has its own designated app and supports a wider variety of cryptocurrency. 

Pros

  • Convenient Way to Store Cryptocurrency
  • User-Friendly App Interface
  • Robust Security Features
  • Portable and Durable Credit Card Shaped Design

Cons

  • Inconvenient To Monthly Charging
  • Lacking In The Number Of Coins Supported
  • Worried About Inconsistent Bluetooth Connectivity

What is CoolWallet S

CoolWallet S was designed to store user’s cryptocurrency offline. These offline Hardware wallets are also known as Cold wallets.

The device tracks your cryptocurrency on the blockchain. Cold wallets does this in addition to keeping your assets secure with the help of private keys. 

Without going into too many specifics, the private key is securely protected in the card. Users who own these private keys maintain ownership of their cryptocurrency. 

With the help of an Android or IOS app CoolWallet is accessible through a user’s mobile device. Through the app users can store, spend, and send their cryptocurrency.

CoolWallet S Specs

CoolWallet S is a user -friendly and portable wallet. It sports a wafer-thin credit card design with a built-in digital screen and button. The card outside look has a sleek black and borderline gold finish. Also comes equipped with a charging dock.

CoolWallet S has a built-in lithium rechargeable battery. When fully charged and not in use it can sustain a standby time of 3 months.

During average use at full charge, the CoolWallet S can maintain a charge for about 2 weeks. Average usage dictated by the CoolBitx team as 2 transactions a day.  

Lastly, the wallet is US military-grade, waterproof, and bendable up to 15 degrees. Although the CoolBitx team doesn’t recommend you trying to bend the CoolWallet S. 

CoolWallet S Highlights 

Track Your Crypto Assets – Users can view changes in their portfolio and check out how much money they have at a glance. A feature in most wallets, it’s an essential tool for both newbie and seasoned cryptocurrency holders.

Send and Receive CryptoCoolWallet S customers can generate a unique address from their Wallet to send and receive cryptocurrency. Choose between BTC, ETH, LTC, or ERC20 tokens just to name a few to utilize this feature. Once CoolWallet S is synced to the mobile via Bluetooth the process is easy and straightforward.  

Exchange Cryptocurrencies – CoolWallet allows for cryptocurrency exchanges. When users decide to swap their cryptocurrencies, they’ll be doing so through integrated exchange partners like Binance, Dex, and Changelly. These API allows users to swap cryptocurrencies at fixed exchange rates.

2+1 Factor Authentication – To maximize security Coolwallet S utilizes both Biometric and physical 2FA checks. It ensures assets are safe and no one can easily access your digital assets.

iOS and Android App – Everyone one of these features’ ties into the CoolWallet S iOS & Android app. Users can connect to the app via Bluetooth to commence trades and other actions. 

What Comes With CoolWallet S

Once purchased, customers can expect to see a charging dock and USB cable for CoolWallet S. Also, packaged inside the box is your typical items like a user manual, recovery card, and a couple of branded stickers. The box itself is black and the inside lid is thoughtful from CEO Michael Ou. 

Supported Cryptocurrency 

CoolWallet S is somewhat limited in the varied types of cryptocurrency supported. We listed some of the most popular cryptocurrency supported. 

  • Bitcoin
  • Ethereum 
  • Litecoin
  • XRP
  • Bitcoin Cash
  • Dai
  • USD Coin
  • USDT
  • Omni USDT
  • Horizon 
  • Icon
  • ERC20 tokens

CoolWallet S App

CoolWallet S is available to both iOS and Android users, and the app can be downloaded from the Apple and Google Play app stores. Once downloaded users will be instructed to sync their wallet to the app via Bluetooth. It’s obvious that simplicity plays a huge role in what CoolBitx wants to offer customers. 

The app’s user experience is straightforward. It is easy to send, receive, and exchange cryptocurrency through the app. Most of the activities mentioned can be performed in a few touches.  

We noticed lots of positive reviews from customers on both Ios and Android users. The team is consistent with updates and support. 

Is CoolWallet S Secure

CoolWallet S has built a wallet that doesn’t succumb to the vulnerabilities of USB hardware wallets. Which in some regards can be prone to phishing attacks and tampering from third-party sellers. 

The CoolBitx team has implemented various security processes to keep user digital assets safe. 

CC EAL5+ certified – The S.E. chipset has been security tested and held to a particular standard. These standards are similar to the US military’s requirements.

According to CoolWallet S website, the chip calculates all the necessary algorithms and transmits only the calculated results. No sensitive data is released out of a user phone via Bluetooth.

Encrypted Bluetooth – The CoolWallet S uses AES256 Encryption. AES-256 is super-strong encryption that is made to protect sensitive data. Obviously, nothing is entirely secure but It’s virtually impenetrable encryption. 

2+1 Factor Authentication – CoolWallet S and app utilizes a sequence of biometric verification. 

Couple this with a physical confirmation button push to securely ensure that users are in control of their transactions. 

Tamper-proof Technology – CoolWallet S uses a patented “Cold Compression”, which contributes to the wallet’s wafer-thin body. There is no extra space for hackers and third-party vendors to tamper with the chips or circuit board.  

Pros & Cons

Pros

  • Convenient Way to Store Cryptocurrency
  • User-Friendly Interface
  • Robust Security Features
  • Code Is Open Source
  • Portable and Durable Credit Card Shaped Design

Cons

  • Inconvenient To Monthly Charging
  • Lacking in the number of coins supported
  • Worried about Inconsistent Bluetooth connectivity

Customer Reviews & Support

Besides the reviews on the mobile app store, CoolWallet S is still a relatively new product so it’s hard to find user feedback online.

From the reviews we were able to source customers were generally positive. Most felt that the CoolWallet is secure, convenient, and has an easy setup process.

We caught a couple of negative reviews. Most of these reviews centered around miner software errors and Bluetooth connection issues. 

Customer Support – CoolWallet S customers can reach them through email support, chatbot, and they’re active on social media’s like Twitter.

The support team seems responsive, answering, and helping users with issues. Based on some customer feedback, the best customer support is given to those who bought directly from CoolWallet S. 

CoolWallet S Review – Is It The Coldest Wallet of Them All 

CoolWallet has come a long way from there Indiegogo days. The team has really created a versatile and convenient way to store cryptocurrency. It can be a daunting task to use USB-based hardware wallets as it requires loads of steps.

The CoolBitx team recognizes this by presenting a wafer-thin wallet that can connect to your mobile device via Bluetooth. 

This iteration of the wallet is well designed and the app sports a user-friendly interface. It’s clear CoolWallet S is made for hobbyist holders, so novice bitcoiners can adapt easily.