Cryptocurrency has seen another boom in 2021. The industry has grown to become a multi-billion-dollar project, which is not bad for technology that was created little more than ten years ago. We are seeing huge investment coming into the market and it’s no surprise that Bitcoin’s price continues to do well as are many other coins.
We’re here today to talk about crypto hardware wallets; this is because they are key in keeping your investment safe against hackers or any nefarious forces trying to get their hands on your digital assets. Below are some of the most popular ones on the market today, and for good reason.
Ledger Nano S
The Ledger Nano S is Ledger’s flagship hardware wallet, and is their most popular model. It offers users a hardware storage solution for Bitcoin, Bitcoin cash, Litecoin, Ethereum, Dogecoin, and more.
The Ledger Nano S is simple to use. Users only need to connect the Ledger Nano S to a computer using the included USB cable, and the device will automatically download the necessary software. Use of the USB cable also allows users to generate public and private keys, store their cryptocurrency in a recovery seed, and transfer their cryptocurrency to/from the computer, all without internet connection.
Ledger Nano S’s biggest strength is its security. It stores all of your cryptocurrency’s private keys, recovery seed, and mnemonic phrases offline. Because the Ledger Nano S is a self-contained device, it is immune to malware and viruses, and hardware failure cannot be exploited to gain access to your cryptocurrency.
Ledger Nano S comes with Ledger Live, which is a web-based interface that allows users to manage their cryptocurrency. Ledger Live allows users to securely store their cryptocurrency, view transaction history, create backups, and more.
Ledger Nano S also has a decent price point. You can buy a Nano S online at around $59 and the robust security features make it a solid buy.
The CoolWallet S is tiny and very easy to use. It connects to a smartphone or tablet via Bluetooth and has a screen that shows the status of the wallet.
The CoolWallet S comes in two models: the CF card model and a USB model, which can connect to a computer. Both models support multiple cryptocurrencies, including Bitcoin, Ethereum, Ethereum Classic, Dash and Litecoin.
The CoolWallet S has physical buttons that make it easy to use, but it also supports screen-based buttons. The latter can be useful for users who can’t use the buttons, such as people who are blind or visually impaired. The CoolWallet S also automatically backs up the wallet’s contents to a separate device. The CoolWallet S is backed by a one-year warranty.
KeepKey is a compact credit-card-sized device that connects using a USB cord to your computer’s USB port. It’s super simple to use, and does a great job of keeping your crypto safe.
KeepKey’s software automatically installs and connects when you insert the device. Once connected, you can send and receive bitcoin and ethereum from the wallet.
The wallet’s interface displays your cryptocurrency balances and transactions. KeepKey also connects to your wallet’s website, so you can view your balances and transactions from any computer. KeepKey recommends using a password to access the wallet’s website.
The KeepKey wallet also works with the Ledger Nano S, which is a PC-based banking device. Both devices work with KeepKey’s wallet software.
The BitBox02 is a hardware wallet that’s easy to use, supports a wide variety of cryptocurrencies, and doesn’t require any software. The BitBox02 comes with a built-in OLED display, buttons, and a USB port. The buttons are for selecting digital assets, while the display shows your private key.
The BitBox02 uses BIP39 standards to keep your private keys safe and encrypted. The wallet connects to your computer via USB, and uses the open source Electrum wallet software.
The BitBox02 supports a large number of cryptocurrencies (BTC, ETH, LTC, BCH, XRP, DASH, ETC, DOGE, ZEC, XMR, IOT, XLM, XEM, NANO, ZEC, and HOT) and is recommended by several major cryptocurrency influencers and developers.
The BitBox02 is also available in a rugged version with an IP67 rating, which makes it suitable for outdoor use. You can buy a multi-coin BitBox02 for about $135 which comes with a 2-year warranty.
The Trezor One is a compact, easy-to-use hardware wallet that lets you store Bitcoin, Ethereum and other cryptocurrencies. It’s particularly good at protecting you against theft.
Trezor One connects to your device over USB. The wallet will recognize the device and walk you through the remaining steps. You’ll be asked to create a PIN, which you’ll need in order to access your wallet.
Trezor One can store up to 24 cryptocurrencies and comes with 24 recovery phrases. It’s compatible with both desktop and mobile wallets, so you can use it to store your cryptocurrency both on your computer and on your mobile device.
Trezor One’s interface is clean and well-designed, and it’s very easy to use. The wallet comes with access to free apps for both Android and iOS, and you can also use Trezor’s website to access your funds.
Trezor One’s security credentials are top-notch. The wallet features several layers of authentication, including PIN, password, and OTP. It also supports recovery via SMS or e-mail, and it comes with a physical recovery key, which you can store securely, allowing you to recover your wallet even if your device is stolen. The wallet is also backed by several layers of insurance.
Ledger Nano X
A hardware wallet can be more complex than you may realize, but for most users, the Ledger Nano X — which you can buy for around $130 — is a perfectly suitable choice. This wallet can hold Bitcoin, Ethereum, Litecoin, Dash, Dogecoin, Zcash, and a wide range of ERC20 tokens.
The Ledger Nano X uses something called a “seed” to generate private keys. The seed is a 12-word phrase that you enter when you first set up the device. The keys are used to encrypt your cryptocurrency.
The Ledger Nano X is compatible with many operating systems, including Windows, Mac, and Linux. Ledger also offers a number of accessories that work with the Nano X. These include the Ledger Blue, a Bluetooth-enabled device that works with the Nano X, as well as a USB adapter, which lets you connect to a computer and transfer your funds.
Trezor Model T
The Trezor Model T is the latest hardware wallet from Trezor and an upgrade from the S. Designed and created in Switzerland, the Model T is lightweight, but sturdy, and comes in various colors. Its power button doubles as an eject button, and is held in place by two magnets. The Trezor Model T has an OLED screen, and it uses an OLED display.
The Trezor Model T uses a pin code system. Each key combination requires a different pin code. The pin code system helps avoid common password hack scenarios. The pin code system uses six digits, and the Trezor Model T’s screen displays a randomly generated pin code.
The Trezor Model T is compatible with most cryptocurrencies. Costing around $240 the Trezor Model T is one of the most expensive hardware wallets you can buy, but if you’re looking to protect your cryptocurrency investment and get a top-of-the-line hardware wallet, it’s one of the best options on the market.
As with anything valuable, you want to keep it secure and this is especially true for cryptocurrency. So whether your crypto portfolio is worth only a few hundred dollars or several thousands, a hardware wallet is likely a worthwhile investment and you can’t go wrong with any of the options above.
But a hardware wallet doesn’t have to cost a lot especially if you’re buying your first one. You can find some great deals on hardware wallets at thecryptomerchant.com.