Hello, this is Coinscript.

In today’s episode:

• Crypto Wallets 101 - How they work and how to use them

• Best Hot Wallets in 2025

• Best Cold Wallets in 2025

Crypto Wallets 101

Let me tell you a story about my friend. For the sake of her, let’s call her Sarah.

She kept all her crypto on an exchange (spoiler alert: bad idea).

She said, she doesn’t want to move it, because it’s “easier”.

Alrighht.

This exchange happened to be called FTX.

For those, who do not know what happened with FTX, here is a short story:

They rekt their clients by “losing” over $8 billion of crypto, which they couldn’t repay back. The story behind this is much more complex, but we’ll talk about that some other time.

She lost all of her crypto and now has a very expensive hardware wallet and trust issues.

Please, do not be like Sarah and secure your crypto properly from day one!

What’s a Crypto Wallet?

Now, forget about everything you know about regular wallets.

A crypto wallet doesn’t actually store your coins. Instead, think of it like a super-secure key to your own personal vault on the blockchain.

Here’s the thing: Your crypto always lives on the blockchain. Crypto Wallet is just how you access and manage it. It’s like having a Netflix account - your shows live on Netflix’s server, but your login gives you access to watch them.

Different Types of Wallets

Let’s say you have 10 ETH (congrats btw). You now have three options for storing your ETH:

Hot Wallets (Software Wallets)

Think of these like keeping money in your everyday wallet.

They're connected to the internet, super convenient, but you wouldn't want to keep your life savings there.

Why?

They are connected to the internet!

Internet connection = Hackers can get ya!

Cold Wallets (Hardware Wallets)

This is like having a personal vault at a bank.

Not connected to the internet, super secure, but a bit of a hassle to access.

Great for your "I'm not touching this for years" crypto stash.

No internet connection = Hackers CAN’T get ya!

Paper Wallets 

Remember when your grandpa said he didn't trust banks and kept money under his mattress?

Same energy.

It's literally your keys written on paper.

Old school, but hey, can't hack paper!

Written on paper = Unhackable = HIGHLY FLAMMABLE

What Type of Wallet do we Recommend?

We’d go with Cold wallets every day of the week.

They are the safest option of the three.

But

Make sure you don’t lose your wallet or your Seed Phrase!

We don’t want to help you look for your millions in the garbage dump!

What is a Seed Phrase?

The Seed Phrase is the most important part of your Crypto Wallet.

It’s a series of words that’s basically the master key to your crypto.

Imagine if someone could access your bank account, email, and social media with just 12 words.

That's your seed phrase - it's THAT powerful.

If you lose it, you lose your crypto.

If someone else gets it, they can take your crypto.

No pressure!

Where (Not) to Store Your Seed Phrase

Fun story: One guy stored his seed phrase on his iPhone’s Notes app. His phone got hacked. He doesn’t have his crypto anymore.

Here’s what NOT to do:

• Don't store it on your phone

• Don't keep it in your email

• Don't take a photo of it

• Don't tattoo it on your body (yes, someone did this)

Instead, we suggest writing it down on paper (multiple copies), store them in secure location, and tell your next of kin where to find them.

It’s like having a treasure map, but way more valuable.

Setting Up Your First Wallet

Now that we covered all of the basics, here’s how you set everything up:

For Hot Wallets:

1. Choose a trusted wallet (MetaMask is great for beginners)

2. Install it from OFFICIAL sources only

3. Write down your seed phrase (more on this in a sec)

4. Never share your seed phrase with ANYONE

For Hardware Wallets:

1. Buy from the official company (not Amazon!)

2. Follow setup instructions religiously

3. Store backup info in multiple safe places

4. Test with a small amount first

If you follow the points above, you should be fine.

Unless you LOSE YOUR SEED PHRASE!

Secure the phrase, thank you!

Best Hot Wallets in 2025

1. MetaMask

   • Overview: A widely-used browser-based wallet primarily for Ethereum and ERC-20 tokens.

   • Supported Currencies: Over 4.5 million.

   • Security Features: Biometric authentication, encrypted key storage.

   • Accessibility: Mobile app and browser extension.

   • Price: Free.

   • Pros:

     • Extensive support for various cryptocurrencies.

     • User-friendly interface with built-in staking options.

   • Cons:

     • Less secure compared to cold wallets.

     • Relies on mobile device security

2. Trust Wallet

   • Overview: A mobile wallet known for its versatility and user-friendly design.

   • Supported Currencies: Supports over 4.5 million tokens.

   • Security Features: Biometric authentication, encrypted key storage.

   • Accessibility: Mobile app only.

   • Price: Free.

   • Pros:

     • Supports a wide range of cryptocurrencies and tokens.

     • Built-in decentralized exchange (DEX) functionality.

   • Cons:

     • As a hot wallet, it carries inherent security risks
       

3. Binance Web3 Wallet

   • Overview: A trusted wallet integrated with the Binance ecosystem, suitable for trading and holding assets.

   • Security Features: Advanced security protocols and hardware wallet integration options.

   • Accessibility: Available as a browser extension and mobile app.

   • Pros:

     • Quick token listings and trading opportunities.

     • Seamless integration with Binance services.

   • Cons:

     • May not support as many tokens as standalone wallets
       

4. Plus Wallet

   • Overview: Focused on maximizing gains with efficient trading features.

   • Security Features: Robust security measures including hardware wallet integration.

   • Accessibility: Mobile app available for easy access on the go.

   • Pros:

     • Fast token listings (within 15 minutes).

     • User-friendly interface designed for efficiency.

   • Cons:

     • Limited to specific trading pairs compared to broader wallets
       

5. SafePal Wallet

   • Overview: A multi-platform wallet that combines both hot and cold wallet features.

   • Supported Currencies: Thousands of coins and tokens supported, including NFTs.

   • Security Features: Offers both software and hardware solutions; however, concerns exist regarding the S1 hardware model's security.

   • Price: $49.99 for hardware version; free for software version.

   • Pros:

     • Versatile with cross-chain swap capabilities and NFT storage options.

     • Affordable pricing for entry-level users.

   • Cons:

     • Security concerns regarding the hardware wallet model

Best Cold Wallets in 2025

1. Ledger Nano X

   • Overview: A popular choice for beginners and experienced users alike.

   • Supported Currencies: Over 5,500 cryptocurrencies.

   • Security Features: Secure element chip, Bluetooth connectivity, and PIN protection.

   • Price: Approximately $149.

   • Pros:

     • User-friendly interface and mobile compatibility.

     • Strong security reputation.

   • Cons:

     • Bluetooth connectivity may pose a slight security risk.
       

2. NGRAVE Zero

   • Overview: Marketed as the most secure cold wallet available.

   • Supported Currencies: Supports over 15 cryptocurrencies and all Ethereum tokens.

   • Security Features: Air-gapped technology, EAL7 certification, biometric authentication.

   • Price: Around $398.

   • Pros:

     • Extremely high security with tamper-proof design.

     • Long battery life (up to 200 years).

   • Cons:

     • Higher price point compared to other options.
       

3. Trezor Safe 3

   • Overview: Known for its robust security and ease of use.

   • Supported Currencies: Supports over 8,000 crypto assets.

   • Security Features: Secure element, two-factor authentication (2FA), and PIN protection.

   • Price: Approximately $79.

   • Pros:

     • Affordable with a comprehensive feature set.

     • Open-source software for transparency.

   • Cons:

     • Limited support for certain altcoins compared to competitors.
       

4. Cypherock X1

   • Overview: Unique card-based backup and recovery system.

   • Supported Currencies: Supports over 8,000 cryptocurrencies.

   • Security Features: Shamir's Secret Sharing technology and dual-chip architecture.

   • Price: About $159.

   • Pros:

     • Eliminates single points of failure in key storage.

     • User-friendly OLED display for transaction verification.

   • Cons:

     • Slightly complex setup for new users.
       

5. Ellipal Titan 2.0

   • Overview: An air-gapped wallet with a focus on user experience.

   • Supported Currencies: Supports over 10,000 cryptocurrencies across multiple blockchains.

   • Security Features: QR code transactions eliminate USB/Bluetooth connections.

   • Price: Approximately $149.

   • Pros:

     • Easy-to-use interface resembling a mobile device.

     • High compatibility with various coins and NFTs.

   • Cons:

     • Requires careful handling of QR codes for transactions.

Memes of the Day 🤣

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.