This content is for educational purposes only and is not financial advice. bunq doesn't give trading advice. Always do your own research or consult a qualified financial advisor before making any investment decisions. Cryptocurrency investments come with risks, including the potential loss of the principal invested. Prices can fluctuate significantly. bunq Crypto is powered by our partner Kraken.

A cold wallet stores cryptocurrency offline, away from the internet. It's one of the strongest ways to protect large or long-term holdings from hacks, phishing, and malware that target online ("hot") wallets and exchange accounts.

Types of cold storage

Hardware wallets. Physical devices that generate and hold private keys offline. You connect them only when signing a transaction.

Paper wallets. Keys printed on paper. Simple but fragile, easy to lose, damage, or expose if not stored securely.

Air-gapped devices. Computers or phones never connected to the internet, used solely for key management.

Cold wallet vs hot wallet

Hot wallets prioritize convenience, mobile apps, browser extensions, exchange balances. Cold wallets prioritize security at the cost of speed and ease. Many people keep a small amount in hot storage for trading and move the rest to cold storage for long-term holding.

Cold storage and bunq

bunq Crypto uses custodial storage through Kraken, you access your portfolio via the app without managing hardware devices yourself. That's closer to a secure hot wallet experience: convenient for buying, selling, and tracking alongside your Bank Accounts. For maximum self-custody, you'd use a separate cold wallet and transfer assets out of the exchange.

Learn more at bunq Crypto and secure banking.

Frequently asked questions

Do I need a cold wallet?

Not everyone does. If you trade regularly or hold smaller amounts, a regulated custodial service may be enough. Cold wallets suit long-term holders who want full control of their keys.

What happens if I lose my hardware wallet?

You can usually recover funds with your seed phrase on a replacement device. Lose both device and phrase with no backup, and access may be gone permanently.

Can I move crypto from bunq to a cold wallet?

Check current bunq Crypto features in the app. Withdrawal options and supported networks can change, review help documentation for the latest process.