What Coldcard does

Coldcard is the consumer hardware-wallet brand of Coinkite Inc., a Toronto, Canada–based private Bitcoin security company founded in 2012 that began shipping the Coldcard product line in 2017. Its core products are two Bitcoin-only hardware signing devices — the Coldcard Q (premium: full QWERTY keyboard, 3.2-inch LCD, integrated QR scanner with LED illumination, dual MicroSD slots, NFC tap, AAA or USB-C power) and the Coldcard Mk5 (compact credit-card form factor with numeric keypad and OLED) — both of which store seeds in a dual secure-element design (Microchip ATECC608 + Maxim DS28C36B from different manufacturers), operate fully air-gapped via MicroSD card, NFC, or QR codes using the BIP174 PSBT standard, and run MIT-licensed open-source firmware with reproducible builds. The company sells hardware directly through the Coinkite e-commerce store and through a network of authorized global resellers, monetizing one-time device purchases plus a tightly related accessory ecosystem (Seedplate metal backups, Coldpower battery adapters, Blockclock mini displays, plus Opendime, Tapsigner, and Satscard from the broader Coinkite product family).

The customer base is concentrated in three overlapping personas: Bitcoin self-custody enthusiasts who prioritize verifiable open-source security and physical duress protection (Trick PIN features including Duress PIN, Brick Me PIN, Countdown to Brick PIN, plus anti-phishing words and tamper-evident clear cases), collaborative-custody users running 2-of-3 multisig with Unchained Capital or Casa where Coldcard is the most commonly recommended signing device, and exchange users migrating Bitcoin off custodial venues into self-storage. Go-to-market is product-led and content-driven — the company publishes extensive documentation, video tutorials, comparison pages, a Telegram community, and a Substack newsletter — with no paid advertising, no companion app, and no cloud account required.

The business model is a straightforward hardware-sales model with no recurring software revenue, no transaction fees, and no disclosed pricing. The company is self-funded and privately held, with no external venture investment disclosed and no published financials. Strategic depth comes from durable technical differentiation (dual secure-element architecture, reproducible open-source firmware, comprehensive duress countermeasures, Bitcoin-only attack-surface reduction) and from a privileged position across the open-source Bitcoin wallet stack (Sparrow, Electrum, Specter, Nunchuk, Wasabi, Fully Noded) and collaborative custody providers, rather than from any pricing or scale advantage.

Name

Coldcard

Legal name

Coinkite Inc.

Website

https://coldcard.com

Company type

Private

Founded year

2012

Operating status

Operating

Short description

Coldcard is the Bitcoin-only hardware-wallet brand of Coinkite Inc. (Toronto, Canada, founded 2012; hardware line since 2017). It sells the Coldcard Q and Mk5 — dual secure-element, air-gapped signing devices with reproducible open-source firmware — and a related accessory ecosystem, serving Bitcoin self-custody enthusiasts and collaborative-custody users via DTC and authorized resellers.

Ownership category

akta.pro rank

Product category

Cryptocurrency Hardware Wallets

akta.pro primary industry

Smart Contract Wallets / Account Abstraction (MPC/AA, social recovery, paymasters) (FSAPACAB)

Keywords

• Bitcoin hardware wallet
• Bitcoin self-custody
• Hardware signing device
• Cold storage security
• Bitcoin multisig

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Hardware Wallet Sales: Coldcard generates revenue primarily through the sale of its Bitcoin hardware signing devices — the COLDCARD Q and COLDCARD Mk5. These are one-time hardware purchases where customers own the device outright. The company also sells companion accessories.
2. Accessories and Related Products: Sale of related Bitcoin self-custody products including Seedplate metal backup plates, COLDPOWER battery adapters, BLOCKCLOCK mini displays, and OPENDIME USB Bitcoin sticks. These complement the core hardware wallet offering.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Coldcard is a Bitcoin-only hardware wallet brand operated by Coinkite Inc., manufacturing physical signing devices (Coldcard Q and Coldcard Mk5) that store private keys in dual secure elements and sign transactions fully air-gapped via MicroSD, NFC, and QR codes. The devices run open-source reproducible firmware and are sold directly to Bitcoin self-custody users through the Coinkite e-commerce store and a global network of authorized resellers, alongside related accessories (Seedplate, Coldpower, Blockclock mini, Opendime, Tapsigner, Satscard).

Product overview

Coldcard is a Bitcoin-only hardware wallet company founded in 2017 by Coinkite Inc. (based in Toronto, Canada since 2012). The core product line consists of two hardware signing devices — Coldcard Q and Coldcard Mk5 — both storing private keys in dual secure elements (Microchip ATECC608 and Maxim DS28C36B) and operating fully air-gapped via MicroSD cards, QR codes, and NFC. The Q model features a full QWERTY keyboard, 3.2-inch LCD screen, built-in QR scanner, and battery power (AAA cells). The Mk5 is a compact credit-card-sized device with a numeric keypad and OLED screen. Beyond hardware wallets, the Coinkite ecosystem includes the Seedplate (metal seed backup), Coldpower (battery adapter), Blockclock mini (Bitcoin data display), Opendime (physical Bitcoin USB), Tapsigner (NFC signing card), and Satscard (NFC Bitcoin card). All devices run open-source MIT-licensed firmware with reproducible builds. No companion app or cloud account required.

Differentiator

Problem solved

Functional benefit

Brands

• Coldcard Q: Premium Bitcoin-only hardware wallet featuring full QWERTY keyboard, 3.2" LCD screen, built-in QR scanner, NFC, dual MicroSD slots, and battery-powered air-gapped operation.
• Coldcard Mk5
• SEEDPLATE
• COLDPOWER
• OPENDIME
• TAPSIGNER
• SATSCARD
• BLOCKCLOCK mini

Products and services

• Coldcard Q Premium Bitcoin-only hardware wallet with a full QWERTY keyboard, 3.2-inch LCD screen, built-in QR code scanner with LED illumination, NFC tap capability, dual MicroSD slots, and battery-powered operation (3x AAA cells or USB-C). Stores private keys in dual secure elements (Microchip ATECC608 and Maxim DS28C36B) from different manufacturers and supports air-gapped signing via QR codes, MicroSD, and NFC.
• Coldcard Mk5 Compact credit-card-sized Bitcoin-only hardware wallet with 128x64 pixel OLED screen, 12-key numeric keypad, NFC-V support, single MicroSD slot, and USB-C power (no internal battery). Uses the same dual secure element architecture as the Q model and supports air-gapped signing via MicroSD and NFC.
• Seedplate Stainless steel metal backup plate for Bitcoin seed phrase storage, holding 12 words per side (24 total). Cut and etched in Canada, chemically colored for legibility, sized 5x3 inches for concealed storage. Fireproof and waterproof alternative to paper backups.
• Coldpower 9-volt battery to USB power adapter enabling battery-powered operation of Coldcard devices without USB data concerns. Provides 5 volts at 500mA max current for air-gapped USB power scenarios.
• Blockclock mini Bitcoin data display featuring a 7-inch E-Ink screen showing real-time Bitcoin network information including price data from exchanges, newly published blocks, and balance/deposit QR codes. Compatible with Opendime for balance display.
• Opendime Physical Bitcoin bearer instrument on USB stick enabling offline Bitcoin transfer like cash. Allows multiple passes between users before unsealing. Trustless design with no private key ever generated until physical unsealing.
• Tapsigner NFC card that stores a private key for mobile Bitcoin signing in a compact card format, designed for physical Bitcoin transactions and quick access to funds.
• Satscard Reusable NFC card for giving and receiving Bitcoin, designed for physical Bitcoin gifting and receipt scenarios.

Quantifiable outcome

• Private keys never exposed to internet-connected devices
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature11 records

Partnerships

Five partnerships are on record, tiered core.

• Sparrow WalletcoreTechnology or IntegrationSparrow Wallet is the recommended coordinator software for Coldcard. It provides watch-only wallet functionality, transaction construction, PSBT handling, and blockchain broadcasting. Coldcard exports wallet descriptors to Sparrow via MicroSD or QR codes for air-gapped operation.
• ElectrumcoreTechnology or IntegrationElectrum is a desktop Bitcoin wallet compatible with Coldcard. Coldcard exports Electrum-format wallet JSON files for users who prefer Electrum as their coordinator software.
• Unchained CapitalcoreStrategic or Co-development PartnerUnchained Capital offers collaborative custody where they hold 1 of 3 keys and the user holds 2. Coldcard integrates directly with Unchained via xpub export for collaborative custody arrangements. Recovery is assisted through identity verification if the user loses a key.
• CasacoreStrategic or Co-development PartnerCasa provides collaborative custody similar to Unchained with a 2-of-3 structure. Coldcard is the most commonly used signing device in Casa's recommended setup. Includes structured inheritance support and mobile app signing key options.
• Coinkite Ecosystem ProductscoreStrategic or Co-development PartnerCoinkite builds a range of complementary Bitcoin tools: Opendime (USB Bitcoin bearer instrument), Tapsigner (NFC card for mobile signing), Satscard (reusable NFC card), Seedplate (metal backup), and Blockclock (Bitcoin data display). These products are cross-compatible and recommended within the Coldcard ecosystem.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• KeepKey: KeepKey (owned by ShapeShift) is an early-generation hardware wallet supporting Bitcoin and other cryptocurrencies. While smaller and lower-end, it competes in the same consumer hardware wallet category and is occasionally compared against Coldcard by security-focused buyers.
• SecuX: SecuX produces hardware wallets (W20, W10, V20) supporting Bitcoin and multiple other cryptocurrencies with secure element chips. It is a multi-asset competitor in the same consumer hardware wallet category as Coldcard.
• Keystone (formerly Cobo Vault): Keystone is an air-gapped hardware wallet with QR-based signing and open-source firmware, focused on Bitcoin and multi-chain self-custody. It is positioned as a comparable alternative to Coldcard and is listed on Coldcard's comparison page.
• Bitkey: Bitkey is Block's (formerly Square) Bitcoin hardware wallet, launched in 2024, with a mobile-first design and 2-of-3 multisig. It is a direct Bitcoin hardware wallet competitor to Coldcard with significant institutional backing.
• Blockstream Jade: Blockstream Jade is a Bitcoin-only hardware wallet with air-gapped operation and open-source firmware, targeted at the same Bitcoin-maximalist self-custody segment as Coldcard. It is explicitly compared against Coldcard on Coldcard's own website.
• Trezor: Trezor (by SatoshiLabs) is a direct Bitcoin hardware wallet competitor offering the Model One and Model T/Safe devices with open-source firmware. It is the longest-established open-source hardware wallet brand and explicitly named by Coldcard as a competing offering.

Peers

• BitBox02: BitBox02 by Shift Crypto is a Bitcoin-focused hardware wallet with dual-chip architecture and open-source firmware, marketed at security-focused Bitcoin holders. It is explicitly listed on Coldcard's product comparison page as a direct competitor in the same niche.

Broad incumbents

• Ledger: Ledger is the largest consumer hardware wallet maker (Nano S Plus, Nano X, Stax), supporting thousands of assets including Bitcoin. It is the primary direct competitor to Coldcard in the Bitcoin hardware wallet space and the category leader by unit volume.

Emerging players

• Foundation Devices: Foundation Devices builds open-source Bitcoin hardware wallets (Passport) and the Envoy mobile companion app, targeting the same security-focused Bitcoin self-custody niche as Coldcard.
• Ngrave: Ngrave is a Belgium-based hardware wallet maker (Zero) with EAL7-certified secure element, focused on ultra-secure cold storage. It targets the same premium security-conscious Bitcoin holder segment as Coldcard with comparable security claims.

Market position

Weaknesses2 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/COLDCARDwallet
• GitHubgithub.com/coldcard
• YouTubeyoutube.com/@Coinkite

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coldcard