How to create a cold wallet for cryptocurrency
To create a cold wallet, use a hardware device that generates keys offline, then write the recovery phrase on paper or metal and keep it private.
Vahe HakobyanEditor-in-chief
Updated Oct 5, 20263 min readFact-checked
On this page
- A hardware wallet keeps private keys offline and signs transactions on the device.
- Write the recovery phrase on paper or metal and store it away from computers.
- Verify the receive address on the device screen before you share it.
Cold storage keeps the private keys for your cryptocurrency on a device that does not connect to the internet. The device signs transactions internally.
What do I need before I start?
Buy a hardware wallet directly from the manufacturer or an authorized reseller, not from a marketplace.
How do I create the cold wallet?
Set up the device before you connect it to any computer.
- 1Get the hardware deviceChoose a device that generates and stores keys offline, and buy it directly from the manufacturer.
- 2Set a PIN and write the recovery phraseUse a PIN you can remember, then write the phrase on paper or metal, not digitally.
- 3Install the official app and create the walletDownload the companion app, connect the device, and follow the prompts.
- 4Verify the receive addressBefore you share an address, check it on the device screen.
What should I do after setup?
Store the recovery phrase offline and update the device firmware.
What mistakes and scams should I avoid?
A cold wallet is not automatically safe if your computer is infected with malware. Avoid second-hand or pre-initialized devices.
Frequently asked questions
It removes common remote attacks, but an infected computer can still trick you.
You may keep using the device, but you cannot restore the wallet on a new device.
A paper wallet is one form of cold storage, while a hardware wallet is a device.
Most need a computer or phone for the app and updates, but the keys stay on the device.
