Moving crypto from Coinbase vault – which is the best cold storage device?

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Moving crypto from Coinbase vault – which is the best cold storage device?

I currently hold around 10 coins in total, each held in their own Coinbase vault (including Bitcoin and Ethereum).

Given the history of exchanges being hacked, I am looking to move all my crypto into cold storage to help me sleep better at night. Cold storage will eliminate the risk of my Coinbase account being compromised or Coinbase locking me out of my account – both legit fears.

Based on my research it appears that the best options for cold storage are Trezor and Ledger. I know that a paper wallet is also an option, but this doesn't feel as secure to me (e.g. what happens if the paper is lost or damaged?) and I don't like the idea of having multiple paper wallets for each coin. So I'm only really considering a Trezor or Ledger wallet at this stage.

With this in mind, I have a couple of questions that I hope people on the community can help me with:

  1. Is the Trezor Model T preferred to the Ledger X by people on this forum? I appreciate that they are quite similar in functionality, that both are considered safe and that it'll largely come down to personal preference. However, I would like to hear what people use personally and why you prefer one to the other.
  2. How safe is Coinbase vault? Is it insured? If Coinbase get's hacked or management are fraudulent, will I be able to recover my Crypto? If so, how? The big advantage of Coinbase vault is not having to worry about managing keys/seeds. Whenever I finally transition to a hardware wallet, losing access to my keys/seed will become my biggest worry. But this is a problem for future me.

I am currently leaning towards the Trezor model T (direct from the manufacturer of course), but may leave some Crypto in my Coinbase vault to help me manage risk – if Coinbase get's hacked, I won't be totally wiped out (same with the cold storage device). Does this sound sensible or should I suck it up and move all my Crypto to offline storage?

Thanks in advance!

submitted by /u/LiberalSamuel10
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