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CryptoUnits - 1539+ Best Cryptocurrency Websites & Bitcoin Sites List of 2023!

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CoolWallet 1.1

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Introduction to CoolWallet S

CoolWallet S is a hierarchical deterministic hardware wallet device designed for sending, receiving, and storing cryptocurrencies. Unlike its competitor hardware wallets that typically connect to a PC, CoolWallet S is tailored for iOS and Android devices, offering a unique approach. Its enhanced security stems from storing the private key on the device itself. The wallet supports a selection of cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, and ERC-20 tokens, albeit with a narrower range than most competitor hardware wallets.

Distinct Features and Functionality

CoolWallet S stands out by being the pioneer hardware wallet to incorporate an integrated exchange within the wallet, allowing seamless in-wallet conversion of cryptocurrencies. This integration is made possible through a partnership with the decentralized exchange Joyso. The wallet provides the option to enable two-factor authentication for added security. Notably, it lacks multi-signature functionality, but its open-source code promotes transparency.

Setup, Security, and Pricing

While the setup process for CoolWallet S might be perceived as challenging, it is designed to enhance security. Users are furnished with a recovery seed to safeguard against device loss or theft.

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Pros & Cons

  • On-Device Private Key Storage: Private key is securely stored within the device.
  • Integrated Exchange: Includes an integrated exchange for seamless trading.
  • Smaller Cryptocurrency Support: Supports fewer cryptocurrencies compared to competitors.
  • Higher Pricing: Priced at a higher rate compared to competitors.

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