Coldcard vs SeedSigner — Head-to-Head Custody Comparison

An independent, data-driven comparison of Coldcard and SeedSigner across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Coldcard scores 5.9 vs SeedSigner's 5.4. Coldcard leads in 4 of 8 categories.

Coldcard is better suited for Bitcoin maximalists, Security experts, Air-gap enthusiasts. SeedSigner is better suited for DIY enthusiasts, Cypherpunks, Security researchers.

5.9

Below AverageCustody Score

Coldcard

5.4

Below AverageCustody Score

SeedSigner

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Coldcard	SeedSigner	Winner
Security	20%	9.5	8.5	Coldcard
Insurance	15%	1.0	1.0	Tie
Regulatory	15%	1.0	1.0	Tie
Fee Transparency	10%	9.5	10.0	SeedSigner
Track Record	15%	8.0	6.0	Coldcard
Withdrawal Flexibility	10%	9.0	8.5	Coldcard
Reporting & Audit	10%	2.0	1.0	Coldcard
Counterparty Diversification	5%	9.5	10.0	SeedSigner
Overall Score	100%	5.9	5.4	Coldcard

Visual

Score Radar

Visual overlay of Coldcard and SeedSigner across all categories.

ColdcardSeedSigner

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (9.5 vs 8.5)

Coldcard uses Air-gapped hardware wallet with secure element key management with 100% in cold storage and regular penetration testing. Compliance: N/A. Incident history: No known compromises.

SeedSigner uses Stateless signing device key management with 100% (stateless) in cold storage and no confirmed penetration testing. Compliance: N/A. Incident history: No known compromises.

Insurance (1.0 vs 1.0)

Coldcard offers None — self-custody hardware via N/A. Hardware wallet. Full user responsibility.

SeedSigner offers None — DIY self-custody via N/A. DIY project. No company behind it. No insurance possible.

Regulatory (1.0 vs 1.0)

Coldcard holds N/A — hardware manufacturer and is not a qualified custodian operating in Canada. Coinkite Inc. Bitcoin-focused hardware company.

SeedSigner holds N/A — open-source project and is not a qualified custodian operating in Decentralized / Open Source. Community-driven open-source project. No company.

Fee Transparency (9.5 vs 10.0)

Coldcard charges None in annual custody fees with Network fees only per transaction. Bitcoin-only by design. Air-gapped signing via microSD.

SeedSigner charges None in annual custody fees with Network fees only per transaction. Build it yourself from off-the-shelf components. Truly zero trust.

Track Record (8.0 vs 6.0)

Coldcard was founded in 2018 and is headquartered in Toronto, Canada. AUM: N/A (hardware manufacturer). Incident history: No known compromises.

SeedSigner was founded in 2021 and is headquartered in Open Source. AUM: N/A (DIY project). Incident history: No known compromises.

Withdrawal Flexibility (9.0 vs 8.5)

Coldcard withdrawal fees: Network fees only. Minimum account: ~$148 (Mk4) / ~$99 (Q1). Supported assets: Bitcoin only.

SeedSigner withdrawal fees: Network fees only. Minimum account: ~$50 (components). Supported assets: Bitcoin only.

Reporting & Audit (2.0 vs 1.0)

Coldcard: SOC compliance is N/A. Not classified as a qualified custodian.

SeedSigner: SOC compliance is N/A. Not classified as a qualified custodian.

Counterparty Diversification (9.5 vs 10.0)

Coldcard is a cold storage / hardware provider. Key management: Air-gapped Bitcoin-only hardware wallet. Secure element. MicroSD transaction signing..

SeedSigner is a cold storage / hardware provider. Key management: DIY stateless signing device. Never stores keys. Camera-based QR code signing. Built from Raspberry Pi Zero..

Fees

Fee Comparison

Side-by-side fee breakdown for Coldcard and SeedSigner.

Fee Type	Coldcard	SeedSigner
Setup Fee	$99-$148 (device purchase)	~$50 (Raspberry Pi Zero + camera + screen)
Annual Custody	None	None
Transaction	Network fees only	Network fees only
Withdrawal	Network fees only	Network fees only

Coldcard: Bitcoin-only by design. Air-gapped signing via microSD.

SeedSigner: Build it yourself from off-the-shelf components. Truly zero trust.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Coldcard	SeedSigner
Air-gapped operation	✓	✗
Camera-based QR signing	✗	✓
DIY from off-the-shelf parts	✗	✓
Dice roll entropy	✓	✓
Duress PIN	✓	✗
Fully open-source	✗	✓
Multisig native	✓	✗
PSBT support	✓	✗
Secure element	✓	✗
Stateless — never stores keys	✗	✓
Zero supply chain trust required	✗	✓

Recommendation

Who Should Choose Which?

Coldcard is better if you…

✓Are a bitcoin maximalists
✓Are a security experts
✓Are a air-gap enthusiasts
✓Are a advanced users
✓Want: Gold standard for Bitcoin hardware security
✓Want: True air-gapped operation
✓Want: Duress PIN and security features

SeedSigner is better if you…

✓Are a diy enthusiasts
✓Are a cypherpunks
✓Are a security researchers
✓Are a ultra-paranoid bitcoiners
✓Want: Stateless — keys never stored on device
✓Want: Build from off-the-shelf components
✓Want: Zero supply chain attack surface

FAQ

Frequently Asked Questions

Is Coldcard or SeedSigner better for Bitcoin custody?

Coldcard scores 5.9 vs 5.4 in our weighted Custody Score. Coldcard leads in 4 of 8 scoring categories. However, the best choice depends on your specific needs: Coldcard is best for Bitcoin maximalists and Security experts, while SeedSigner suits DIY enthusiasts and Cypherpunks.

What is the difference between Coldcard and SeedSigner?

Coldcard is a cold storage / hardware provider, while SeedSigner is a cold storage / hardware provider. Coldcard excels in Security, whereas SeedSigner is strongest in Fee Transparency.

How do Coldcard and SeedSigner fees compare?

Coldcard charges None annual custody fees with Network fees only transaction fees. SeedSigner charges None annual custody fees with Network fees only transaction fees.

Which is more secure, Coldcard or SeedSigner?

Coldcard scores 9.5/10 for security while SeedSigner scores 8.5/10. Coldcard uses Air-gapped hardware wallet with secure element key management, and SeedSigner uses Stateless signing device.