Cold Wallet
A cryptocurrency wallet that stores private keys entirely offline, away from internet-connected devices.
Also known as: cold storage, offline wallet
Last reviewed: 10 June 2026
A cold wallet keeps the private key on a device or medium that never connects to the internet. The most common forms are hardware wallets (USB-like devices) and paper wallets (private key printed or written on paper). Because the key never travels over a network, remote hacking is essentially impossible.
Scammers target cold-wallet users through supply-chain attacks (selling counterfeit or pre-loaded hardware wallets), fake manufacturer websites that ship tampered devices, and social engineering designed to get the victim to connect the device to a malicious computer or reveal the seed phrase verbally.
Buying a hardware wallet directly from the official manufacturer, verifying the tamper-evident packaging, and initialising it yourself (never accepting a pre-configured device) are the key safeguards.
Sources
- FTC — What To Know About Cryptocurrency Scams — Federal Trade Commission
- CFTC — Digital Assets — Commodity Futures Trading Commission
- Investor.gov — Crypto Assets — U.S. Securities and Exchange Commission
- FINRA — Crypto Assets: Learn More — Financial Industry Regulatory Authority