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In 2022, against the backdrop of sanctions pressure on Russia, many members of the crypto community from the Russian Federation were forced to transfer cryptocurrencies to cold storage in order to protect assets from blocking. At the same time, users faced a number of restrictions, including the inability to pay for the device with a bank card. The editors of BeInCrypto decided to find out how, under the conditions of sanctions, you can buy a cold crypto wallet
What is a cold wallet and why is it needed
A cold wallet in the crypto industry is a storage for digital assets without constant access to the Internet.. Most often, such devices are presented in the form of a flash drive that you can carry with you or put in a safe. Therefore, cold crypto wallets are also called hardware wallets.
Refusal of a permanent connection to the Internet allows you to increase the security of storing cryptocurrency in a cold-type wallet. The fact is that this approach ensures that fraudsters cannot access the user’s assets over the network. That’s why Cold wallets are considered the safest way to store digital assets.
The main disadvantage of such crypto wallets is the high cost. Against the background of the fall of the ruble at the beginning of 2022, cold storage options for digital assets have risen in price by an average of 20-30%.
Most often, cryptocurrency owners transfer their coins to cold crypto wallets for long-term storage. For example, it is possible to profitably buy digital assets during the crypto-winter period in order to sell them on a wave of growth some time later.
At the beginning of 2022, crypto wallets turned out to be especially relevant for Russians. The fact is that against the backdrop of the conflict between the Russian Federation and Ukraine, some crypto companies have imposed sanctions against the country. Many members of the crypto community, fearing to lose their cryptocurrency, decided to transfer assets to cold storage.
Read also: What to do if the crypto exchange imposed sanctions – we understand the situation
Popular cold crypto wallets and how to buy them
As of early March 2022, There are two leaders in the market of cold crypto wallets: the French Ledger and the Czech Trezor. In the line of both manufacturers, there are a pair of crypto wallets.
How to buy a Ledger crypto wallet
Ledger offers two models of hardware wallets for sale: Ledger Nano X ($149) and Nano S ($59).
Presentation of Ledger hardware crypto wallets:
At the time of writing, on the official website of Ledger it is possible to order the delivery of a crypto wallet to Russia. The shipping cost will be just over $16. Delivery, for example, to Omsk, according to the site, will take 15-30 business days. Ledger pays attention to the fact that the company does not deliver crypto wallets to Crimea.
Ledger accepts MasterCard and Discover bank cards. You can also pay for the purchase with cryptocurrency or fiat via PayPal, crypto.com Pay and Bitpay. Transfers using Mastercard bank cards, due to the suspension of the company’s work in the Russian Federation amid the escalation of the political conflict between Russia and Ukraine, may not work. PayPal also introduced restrictions for Russians. Respectively, citizens of the Russian Federation are left to pay Ledger with cryptocurrency through crypto.com Pay and Bitpay.
Read also: How to buy bitcoin (BTC) – 5 safe ways
You can buy Ledger for rubles, for example, on domestic marketplaces, including Ozon. At the same time, the price of a crypto wallet can be unpleasantly surprising.
There are also offers for the sale of Ledger crypto wallets on AliExpress and Avito.
Vvzhno! Before buying, it is worth clarifying whether the seller opened the package and whether he used a crypto wallet. Purchasing a used device reduces the security of storing cryptocurrency. In particular, no one will give the user a guarantee that the crypto wallet is not damaged.
How to buy a Trezor crypto wallet
Consider options for those wishing to buy a cold hardware wallet for Trezor digital assets. The company offers users two models of devices: Trezor One (€59) and Trezor Model T (€189).
Unfortunately, as of the time of writing, Trezor does not deliver crypto wallets to Russia and Ukraine. At the same time, the company agrees to send the device to the Republic of Belarus. In this case, delivery will take 15 days and will cost €9.
Russians who want to buy Trezor can look at the offers of marketplaces and platforms for posting free ads, such as Avito.
See also: Kraken security lab hacked Trezor crypto wallet in 15 minutes
Important! Ledger and Trezor are far from the only players in the cold wallet market. Among the companies’ competitors are CoolWallet Pro, KeepKey, Ellipal Titan, Safepal and SecuX. Most manufacturers are ready to deliver the crypto wallet to the Russian Federation.
Summing up
Under sanctions pressure, Russians can still buy crypto wallets from foreign manufacturers. At the same time, it is possible that you will have to pay for the order in cryptocurrency.
One of the market leaders, Ledger, still delivers cold crypto wallets to Russia. Russians can buy a device from another popular manufacturer – Trezor – only in the secondary market.
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