Local, hardware, and cold wallets store and protect your private keys in different ways, each with its own level of security and convenience.
About cold wallets
Cold wallets store private keys offline, away from online threats such as malware or spyware. They:
- Do not connect to the internet nor interact with any smart contracts, avoiding risks from digital vulnerabilities.
- Are primarily used to send and receive digital assets securely.
Using hardware wallets
Hardware wallets are physical devices, such as USB or Bluetooth devices, that:
- Store private keys offline for extra security.
- Don’t store the cryptocurrency itself, only the private keys.
- Include popular examples like Trezor and Ledger.
This offline storage is often referred to as "cold storage," which is why they fall under the cold wallet category.
Understand local wallets
Local wallets are software wallets installed on your computer or smartphone. They:
- Store private keys directly on the device, giving you full control over your assets.
- Are only accessible from the device they’re installed on.
- Include popular examples like Exodus and Jaxx.
Connect cold, local, or hardware wallets to CoinTracker
You can connect these wallets using one of the following address types:
- Wallet address (or public address): Standard address for receiving assets and tracking balances on most blockchains. If you use this method, you’ll need to label transactions to and from non-supported wallets as Transfers to keep your records accurate.
- Extended public keys (xPub/yPub/zPub) are used for UTXO-based wallets like Bitcoin wallets. These wallets transfer any unused balance to a new address after each transaction. Follow your wallet provider’s instructions to find your extended public key.
For the underlying mechanics, review our article on understanding xPub/yPub/zPub keys.
If your wallet doesn’t support xPub exports
If your wallet doesn’t allow exporting extended public keys, you can use an open-source tool to generate them from your seed phrase or mnemonic phrase, which some wallets provide when creating a new wallet.
For step-by-step instructions on the most common hardware wallets, select the links below to go directly to our integration pages for each wallet.
🔗 Connect Ledger Wallet
🔗 Connect Trezor Wallet
If you run into any issues, please don't hesitate to reach out to our support team for help.