How much does self-custody cold storage cost? It doesn't have to cost an arm and a leg. But extra security is worth spending money on, especially if you are holding bigger bags.

1- Paper wallet.

Cost: typically under $5

This is the cheapest option, but also the least practical, gives you the least protection against disasters, and has the least security features.

It's also more for one time use, because you can't make constant transactions without increasing your risk and exposure.

Good for: small holdings, short term/mid term holding, one time use, gift.

2- USB hardware wallet.

Cost: typically under $10.

This one is very similar to a paper wallet, but instead of paper, your key is on a USB. The only difference is you can customize and setup the software you want, adding encryption and security features.

You are still missing the security features of a specialized crypto hardware wallet like Trezor, Ledger, etc...Which not only have the hardware and firmware, but more importantly have your address display on the device, letting you know if there is malware spoofing an address or rerouting your funds.

Good for: small/mid size holdings, rare use, mid term to long term.

3- Specialized hardware wallet (Trezor, Ledger, etc...).

Cost: Hardware wallet $60- $300.

This one gives you the most security features for being practical at the same time. It will typically have security features for connecting to a computer, and a display showing you the address for the transaction so you can see if your computer is spoofing an address.

Not all hardware wallets are equal. Some are more secure, open source, and more established than others. But for $60, you can get all the basic security features you need from a Trezor, and typically won't really need the more expensive $200+ with all the bells and whistles.

Good for: mid size to large holdings, occasional use, mid term to long term.

Additional security features:

1- Backup seed plates.

Cost: fire resistant plate $10-$40 + engraving pen $20-$40.

2- Fire resistant safe.

Cost: $80-$12,000. Cheaper ones tend to be worthless, or too portable.

3- 25th passphrase.

Cost: $0.

People forget about this simple additional feature, in case someone finds your back up seed phrase. It's easier than encrypting your seed phrase.

Conclusion:

Cold storage can cost as little as a few dollars.

Getting the key features and practicality of a hardware wallet+engraved metal seed plate+passphrase, can potentially cost as little as under $100 ($60+$10+$20+$0+tax).

If you want to go into cold storage with all the security features and at a more high end level, it can cost a few hundred dollars.

If you want to go all out on security and protection from the elements, it could go into the thousands of dollars, depending on how far you want to go with high end safes and things like that.