New BitcoinCT r:  10 cold storage device CoolWalletCT r:  246 from CoolbitX Technology is the size of a credit card, doesn't need cables, fits in a common wallet and will grant owners confidence in the security of their Bitcoin wealth.

Cold storage is quickly becoming a popular concept within the cryptocurrency industry.

Considering the inherent risks involved in online storage of Bitcoin, the industry is devising better methods to keep the coins safe. One of these is somewhere the hackers cannot reach, i.e. (pc or smartphone).

CointelegraphCT r:  30 interviewed Shannon Yeh, Product Manager of CoolWallet, to get an in-depth analysis of the product and Alena Vranova, Product Manager of TrezorCT r:  100, a competitor in this marketplace for over a year for a comparison of the pros and cons of the two solutions.

The Basic Concept of CoolWallet

Shannon Yeh  is a member of the CoolbitX Technology team of security specialists, engineers and design professionals since 2012, owned by Jetstream Holding Ltd.

According to Shannon, CoolWallet is the first wireless hardware wallet that can be used by smartphones to manage Bitcoin transactions. Other hardware wallets require a computer and/or a cable of some kind. CoolWallet is designed primarily for convenience. It is a product that has been designed to be stable for a minimum of  two-years, which simply means that the battery life is designed to perform optimally for two years and may not perform perfectly afterwards, but can still be effective.