The Best Cold Wallets in Indonesia and Where to Buy Them

In the age of digital currencies and decentralized finance, keeping your digital assets has become even more crucial. Hence, you might need to consider buying a cold wallet to pool your digital assets, such as Ledger, Trezor, or other brands.

With growing interest in cryptocurrency yet less-than-stellar internet safety in Indonesia, the need for cold wallets has significantly increased. While not all international brands of hardware wallets are available in Indonesia, there are a few great products that you can buy easily.

What is a Cold Wallet?

A cold wallet, aka a hardware wallet, is an offline physical device to keep your crypto assets. It can securely store your private keys and is essential for accessing and authorizing cryptocurrency transactions. It also minimizes the risk of unauthorized access.

Cold wallets come in various forms, ranging from the card-shaped model and the ones resembling a USB flash disk. You can also find various brands and series at different price points, each with its own advantages.

Due to its lack of network connection, cold wallet devices are much safer from cyber threats, such as hacking, malware, and phishing attacks. Therefore, many top investors prefer cold wallets over hot ones.

The Benefits of Having a Hardware Wallet in Indonesia

Hardware wallets can be expensive. Meanwhile, there are plenty of hot wallets available at low costs. Some even offer free services. Not to mention that many trading platforms already have a wallet incorporated into their system. So, why do we still need a cold wallet anyway?

For those who only trade crypto in small amounts and for fun, a cold wallet might not be necessary. However, those with long-term investments or high-volume trading will find it much better if they invest in at least one cold wallet device.

Enhanced Protection System

Using a cold wallet significantly reduces the risk of hacking, phishing, and other cyber threats as they are not online all the time. This isolation ensures that your private keys remain confidential and protected. It is a stark contrast to hot wallets, which are 100% internet-based. The other crypto wallet alternative, paper wallet, is not as secure because it can be easily lost, stolen, or damaged in many ways.

Protection Against Malware

Since cold wallets store private keys offline, they are immune to malware attacks that typically target hot wallets. This makes them an ideal choice for those who prioritize the safety of their digital assets. Even better, some brands offer protection system updates every once in a while, to make the system even more secure.

Easier Long-Term Management

A cold wallet is much more robust to keep your assets long-term, especially if you buy a high-quality device. By pooling your crypto investment in this smart device, you can review and make plans on them anytime. You need to connect it to the internet only when initiating new transactions.

Best Cold Wallet Available in Indonesia

Ledger Nano

Many crypto enthusiasts worldwide, including those in Indonesia, would prefer the Ledger Nano series over other brands to store their assets. The brand has various models at varying prices and choices of accessories to meet various needs.

You can get Ledger Nano S for less than a million IDR if you have a limited budget. For those who are ready to splurge, Ledger Nano X is available at IDR 2,959,999.00.

Advantages and Disadvantages of Ledger Nano

What makes Ledger Nano great are:

• Tamper-resistant SE chip for mitigating complex attack vectors.
• Compatible with most DeFi platforms.
• Ledger Live on mobile and desktop to monitor your investment.
• Top-notch customer care worldwide, including free replacements for malfunctioning Ledger devices.

However, Ledger Nano products also have drawbacks like these:

• The Ledger firmware system is not open source.
• Multiple points of access increase potential attack vectors.

Trezor

Yet another popular brand for cold storage with high security is Trezor. Supporting thousands of crypto tokens, including those in BAPPEBTI's whitelist, this brand is reliable for managing your legal investment in Indonesia.

Trezor One is ready for purchase at IDR 1,000,000.00, but the newest Trezor Model T series starts at IDR 3,500,000.00.

Advantages and Disadvantages of Trezor

Using Trezor cold wallet will give you the following benefits:

• User-friendly app interface makes it easy for newbie investors.
• Secure Element (EAL6+) and the passphrase make it harder for hackers to unlock any Trezor device.
• Open-source firmware allows people to improve the security of new potential threats.
• Able to create unlimited hidden wallets inside your Trezor system.

Unfortunately, there are also downsides to this cold wallet, such as:

• More expensive compared to other brands.
• Debit/credit card fees are rather high.

CoolWallet

CoolWallet is a very reliable cold storage crypto wallet brand that allows easy interaction with DeFi, dApp, and NFT. With water-resistant and tamper-proof technology, its devices guarantee impressive security for your crypto assets.

One of the most popular series in Indonesia is the CoolWallet Pro, which costs around IDR 2,500,000.00.

Advantages and Disadvantages of CoolWallet

Maintaining your assets in your CoolWallet wallet will give you the benefits below:

• Supports over 12,000 crypto assets across 27 blockchains.
• Open-source secure element chip code for improved safety and transparency.
• Encrypted Bluetooth connectivity.
• Card-like model, easier to store and carry around.

However, you will also face its drawbacks, such as:

• Not many options for staking coins.
• No desktop app making it less convenient to manage assets.

SafePal

SafePal cold wallet comes in a simple rectangular-shaped model with a Bluetooth connection. It also boasts a 1.3-inch Color Display, which allows you to review your crypto investments in real-time. Interestingly, SafePal also supports over 58 blockchains and almost all cryptocurrencies, making it suitable for investors aiming for high diversity in their portfolios.

The new SafePal S1 series is available in Indonesia for only IDR 850,000.00.

Advantages and Disadvantages of SafePal

The benefits of using a SafePal cold wallet include:

• Sleek design with an intuitive interface makes it enjoyable to manage your cryptocurrency assets.
• Accessible on mobile apps, browser extensions, and even from the hardware itself.
• Multiple staking programs to boost passive income from Bitcoin, Ethereum, Binance coin, and other tokens.
• Relatively affordable.

Unfortunately, the model also has drawbacks, such as:

• The security system is not as good as other cold wallet brands.
• Limited battery lifespan, making it less convenient for traders with high mobility.

Ellipal

Ellipal offers a hardware wallet with a ruggedized waterproof metal case that looks sturdy and modern. The system has quite a reliable security and interesting air-gapped connectivity, which means it can connect to devices via QR codes. With no network or Bluetooth connection necessary, Ellipal is harder to breach by hackers and other malware.

The new Ellipal Titan is available at IDR 2,350,000.00 in Indonesian markets.

Advantages and Disadvantages of Ellipal

People like Ellipal cold wallet mainly for these advantages:

• Support over 10,000 coins and tokens besides Bitcoin.
• Touchscreen for easy interaction and a fun monitoring experience.
• Smart self-destruct function and backup data to anticipate thieves and other unwanted access.
• High protection, both physically and systematically.

Unfortunately, there are some downsides:

• Poor customer support service.
• Rather expensive compared to more popular brands, such as Ledger and Trezor.

Where to Buy Cold Wallet in Indonesia

Once you've decided on the best cold wallet for your needs, the next step is finding a reliable source. While not many places sell this kind of stuff, there are a few trusted places in the country where you can buy a hardware wallet.

If you are looking for Ledger or Trezor cold wallet goods, you can count on most of these stores. However, other brands are less popular than those two. Hence, you might need to check on multiple stores before finding the one that you desire.

On line

Several local platforms and marketplaces cater to the Indonesian crypto community. Reputable marketplaces are Blibli, Tokopedia, and Shopee. At these places, you can find several vendors that offer legal cold wallets and other goods related to crypto investments. Make sure to verify the seller's authenticity and check for customer reviews before purchasing.

Of course, you can also buy your wallet internationally via Amazon or the brand's official websites. The prices might be lower compared to Indonesian-based stores. However, this option gives you a higher shipping cost and longer shipping time. Not to mention possible taxes that may follow.

Offline

Unfortunately, few traditional retail places sell cold wallets in Indonesia. You might find more options if you live in big cities. Some of the most popular stores in Jakarta that sell products related to crypto investments are Bitcoin Indonesia in Sunter Agung, Crypto Assylum in Mampang, and Crypto Indonesia in Kelapa Gading.

Buying offline is not a popular option in Indonesia, especially in Jakarta because of the traffic jams. Furthermore, people don't want to risk commuting for nothing, just in case the store does not have the cold wallet model they are interested in buying.

FAQs

Are there cheaper options for a cold wallet?

Yes, there are other cold wallet products with lower prices in Indonesia. However, they are not very popular and reliable in terms of safety and functionality.

Do I need a separate cold wallet for each crypto asset?

Not really. You can use one cold wallet to store Bitcoin, Ethereum, Binance, and other crypto coins altogether. Many devices also support NFT and other crypto investments.

Where else can I safely store my private keys offline?

You can write down each of your private keys on paper and then keep the document in a secret place. Make sure it is also physically protected from water and other potential hazards.

Which brand from the list above is more popular among Indonesian traders?

Most sellers and crypto investors would recommend Ledger and Trezor due to their stellar security systems, which are the most crucial aspects of a cold wallet.

Is Bluetooth connection safe for your cold wallet?

Bluetooth is reliable to connect to your cold wallet locally. It is relatively safe in a private space, such as your house. When in a public space, you need to make sure there are no other suspicious Bluetooth devices around because Bluetooth connections can be vulnerable to malicious attacks.