Cold Storage Coins Review

I bought a cold storage coin off of Amazon because it looked cool and it was only $25.00.  It is a metal coin that has a sticker on the back with a QR code that represents your wallet.  You can use the coin to receive different coins and there is an app that you use to manage and send.

What makes this coin unique is that it has its private key under the sticker. The private key is lazer etched into the coin.  When you first remove the sticker you will see lots of residue and probably won't be able to see the private key.  You are supposed to take rubbing alcohol or goof off or some sort of solvent to remove the sticker parts.

After you remove the sticker parts you will see your private key.

Now here are my concerns.  First, there is no good way to put the sticker back on.  Once you reveal your private key, you should probably transfer your money into a new wallet.

My second issue is that some computer or some database out there probably has your private key.  You really need to trust a company that prints the public address and the key on the same device.  They had to match the two up somehow.  Until I see with my own eyes how you can keep an item like this safe, I won't plan to use it.

As a better alternative, we sell the Ballet credit card wallet.  It uses a similar system with a sticker and a private key printed.  According to their sales team, one of the codes is printed in China and the other is printed in Seattle so that no one ever has both numbers.  Also with Ballet,  I am trusting the integrity of Bobby Lee who has a decade of history in the crypto world.

I'd rather trust Bobby and Ballet if I had a choice.  I still think credit cards and coins are good for small amounts and giving Bitcoin away to people.  

One of my favorite devices for moving little bits of coin to people unfamilar is the Bitcoin Stick.  The private key is not accessible until you physically break a small part of the device.