Hardware wallets are real and tangible Cryptocurrency wallets that mainly come as USB flash drives. Apart from storing your funds, these wallets will also enable you to send and receive additional Cryptos. Although users have to buy these wallets, they have become popular because of their high level of security and convenience. If you’re looking for a place to safely store your coins, here are some of the best hardware wallets in the market.
1. TREZOR One
TREZOR One was the first hardware wallet and was launched in 2014. Its founder, who still works as the CEO and IT developer in his firm called SatoshiLabs is one of the most respected figures in the Crypto sector. Apart from providing secure offline cold storage, this wallet allows the users to spend their coins conveniently as a hot wallet.
TREZOR’s appearance is one of the most distinguishing features. The device is almost the size of a car-key making it easy to carry it around. It also comes in different colors. Furthermore, it comes with a USB cable that you can use to connect to your computer and Cryptosteel to keep your recovery seed. Regardless of whether your machine is compromised or infected with malware, TREZOR will always be safe to use.
TREZOR supports hundreds of coins and ERC-20 tokens that include LTC, BCH ETH, BTC, and DASH among others. The wallet does not support Cardano, Monero, and Ripple. Moreover, the wallet requires some coin holders (e.g. ETH) to use an external wallet.
2. Ledger Nano S
Ledger Nano S could be your favorite hardware wallet if you are planning to store different Cryptocurrencies. Although the device is a bit more expensive than its rivals, it’s more secure and easy to use. The wallet also has the ability to make payments quickly.
The company behind the device, Ledger Wallet was established in France in 2014 and has become one of the world’s biggest hardware wallet providers. Just like TREZOR, you can also securely use this wallet on an infected computer. The wallet comes with items such as a micro-USB cable, recovery sheet (to write down seed), one keychain, and a lanyard to put the wallet around your neck.
However, one of the main shortcomings of this wallet is low storage space. To store or use a given coin on this wallet, one has to download its specific wallet. Given that the wallet currency supports only two to three apps, it means the users have to keep uninstalling and installing different apps when using many coins.
Ledger Nano S is the number one hardware wallet for many users especially because it protects their tokens and enables them to use them easily. The wallet is also beginner friendly and supports various Cryptocurrencies that include Stratis, Dash, Zcash, Litecoin, Ethereum, and Bitcoin.
3. CoolWallet S
CoolWallet S is quite different from the other hardware wallets such as Trezor and Ledger. The slim electronic device generates and stores the users’ private keys. The device sits between offline (cold) and online (hot) wallets. It can connect to mobile phones or any other device that supports NFC or Bluetooth technology.
CoolWallet S is waterproof and has a screen that displays your password and seeds acting as a layer of protection. The screen is also used when sending funds. This feature ensures that no one can see your sensitive information displayed on the screen unless they are filming or standing behind you.
CoinWallet S supports Cryptocurrencies such as Bitcoin, Ripple, Ethereum, and ERC-20 tokens among others. Moreover, it supports other lesser-known coins such as BDG and JAYZ. The wallet comes with a charging cable, a plastic charger, and a recovery card.
4. KeepKey Wallet
KeepKey was launched in 2015 and has become one of the leading hardware wallets providing its customers with access to some of the leading Cryptocurrencies. The Hierarchical Deterministic (HD) device enables the users to create and store an unlimited number of private keys. If you hold different Cryptocurrencies, the hardware supports NMC, LTC, ETH, DOGE, DASH, BCH, and BTC.
KeepKey is compatible with Android, Linux, Mac, and PC. It also works with Mycelium, MultiBit, and Electrum. However, for one to use this device on a PC, they must install Google Chrome. Although this wallet is a bit more expensive than most of its competitors, it has a digital screen and a metal body that makes it hard to break when it falls. Furthermore, the wallet provides a high level of security to its users.
5. BitBox Wallet
BitBox is the ideal device for those looking for cheap but secure hardware wallets. This Swiss-engineered device enables the users to send, receive, and store Cryptocurrencies such as Ether, Bitcoin, and more. The wallet comes with a microSD that’s used to back up multiple private keys eliminating the need to write them down.
BitBox has free iOS and Android mobile apps that enable users to manage their funds easily. It is compatible with Linux, Mac, and Windows operating systems. It is also easy to set up and use the wallet. However, the device does not have a screen. Furthermore, it does not support as many coins as some of its rivals.
Unlike most software wallets, hardware wallets cost money. However, the amount of security that these wallets give is worth more than the amount you spend on them. Furthermore, it’s advisable to buy your preferred hardware wallet from the company’s website or authorized resellers. When it comes to selecting your best hardware wallet, your experience and the number of coins you hold will determine your choice.