The Best 3 Hardware Wallets for Bitcoin, Bitcoin Gold, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dogecoin, Zcash, Ripple, Dash, Stratis, Komodo, Ark, Expanse, Ubiq, Vertcoin, Viacoin, Neo, Stealthcoin, Stellar, Hcash, Digibyte, Qtum, PivX, Testnet, Namecoin, Testnet and more…
In this digital world, a new form of currency has risen known as a cryptocurrency. The cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc need a wallet to store them like the paper currency in the physical world.
These wallets work as similar to bank or pocket wallets but give you full control over your coins. Without a wallet in crypto world, it is not possible to trade or perform transactions.
Wallets are simply the software which can store cryptocurrencies. There are different forms of wallets available to store different digital currencies. The different forms of wallets are:
- Web or Online wallet
- Hardware wallet
- Desktop wallet
- Paper wallet
- Mobile app wallet
Among all sorts of the available wallets, hardware wallets are considered as the best, easy to use and safest wallet.
What is Hardware Wallet?
It is one of the best forms of cold wallet. Hardware wallets are the devices which are encoded with a program that never reveals your private keys and stores securely inside them.
A cryptocurrency wallet stores two keys that are public and private. A public key is like the bank account number and a private key is like the password to the account.
Hardware wallet gives user full control over their private keys which makes it one of the most secure forms of wallets.
Hardware wallet stores the private key in a hardware device which even can be used with the compromised computer.
The hardware wallet itself stores the key, it ensures your keys are never on any internet connected device. This makes the hardware wallet immune to hacking, phishing, viruses, theft, keyloggers, damages, loss, etc.
If the hardware wallet is lost or damaged or theft, all the coins present in the wallets can be recovered using the backup keys.
The transactions that perform through hardware wallet can be reviewed and confirmed using the display and physical keys available in these wallets, this provides an additional security layer to the hardware wallet.
Hardware wallets are also secured by a PIN which prevents from unauthorized access.
The Advantages of Hardware Wallets
People do not know much about benefits of storing their coins in hardware wallet and that’s why they leave their coins in exchanges or send them into some online web wallets for ease of use.
But it makes their coins vulnerable to hackers and may loss huge amount of money. Those who are new to cryptocurrency and do not know much about hardware wallets, here are the advantages of using Hardware wallets to store your coins:
- Private keys are preserved inside the hardware device and never get exposed to computer or internet.
- Hardware wallets cannot be hacked and neither viruses can attack.
- These wallets can also be used with compromised computer or computer which is affected with virus and malware.
- It has two-factor authentication that is a physical hardware device and the PIN, without both of these it is not possible to access your coins.
- To perform transactions, you need to review and verify the transaction through the hardware wallet itself, not from an application in the computer.
- Hardware wallets are the multi-currency wallet, so it can store different popular cryptocurrencies.
- The software used by hardware wallet is open source, so it allows a user to validate entire operation.
- Hardware wallets also provide backup phrase to restore your coins if the device is damaged or lost.
The only down point in hardware wallet is they are not free to buy but they are free to use. The price ranges from $60-100 to buy a hardware wallet which cannot be considered as much amount to store such precious Bitcoins and other cryptos.
Yet till date, there is no any case of losing any cryptocurrency from hardware wallets. So it is quite affordable and the most secure way to store your coins.
Best 3 Hardware Wallets for Bitcoin and more.
Here we have listed the list of three best hardware wallets to store Bitcoins and even many more other cryptocurrencies. These are listed as top 3 hardware wallets with consideration of different factors:
- Ledger Nano S hardware wallet
Ledger Nano S is one of the best hardware wallet or a cold storage to store cryptocurrencies.
It has better look and design and it is also inexpensive than any other popular hardware wallets. The Ledger Nano S cost only around $100. It has a shape like and the device also has an OLED display to show necessary information and to review and verify transactions.
The device supports all popular cryptocurrencies which include Bitcoin, Ethereum and even more than a dozen of other cryptos which makes it a multi-currency wallet.
Ledger App is a free Google application that is used as an interface by Ledger Nano S to operate its wallet and other compatible wallets also can be used with it.
With the attractive look and design, the Ledger Nano S also has an attractive interface which is easy to use and user-friendly.
The wallet is compatible with Windows, Linux, Mac, and Android too. Ledger Nano S needs to be connected with a USB cable to use it on your device or computer.
When you connect your Ledger Nano S wallet to your device, you need to create a 4-digit PIN to secure your wallet.
It will also provide you 24-word backup phrase to restore your cryptocurrencies if the wallet is lost or damaged or theft. You need to keep the backup phrase securely so that you can use it whenever you require.
It is almost impossible to hack the Ledger Nano S wallet even if you are using a compromised computer, it’s still safe to perform a transaction on the device.
The developers of Ledger Nano S claim the wallet as unhackable. You can also recover all your cryptocurrencies using the backup phrase. The Ledger Nano S stands out to be one of the best cryptocurrency wallets and even it is also the cheapest among all other hardware wallets.
- TREZOR Hardware Wallet
It comes with a USB cable to get connected to a computer or device. The Trezor wallet is compatible with Windows, Mac, Linux, and Android too.
Hardware wallets being the most secure way to store cryptocurrency, Trezor has always been one of the best hardware wallets. Trezor and Ledger Nano S both have similar functionalities and are portable.
Trezor also has an OLED screen to review and confirm the transaction. It has two physical buttons on a device to carry out the operation.
It is safe to store your coins in Trezor because it requires two-factor authentication, it cannot be accessed by knowing just PIN or by only having the Trezor device.
The user needs to have both PIN and Trezor device to get access to their altcoins and also can switch to different cryptocurrency in a wallet.
The hardware wallet Trezor cost around $99 which is more than the Ledger Nano S but the safety it provides to your cryptocurrencies makes it worthy.
It is almost impossible to hack coins from Trezor wallet. It requires a PIN to perform each transaction. Trezor also provides 24 words backup phrase to recover your coins if your device is lost or theft or damaged.
It requires you to connect to an online wallet like Mycelium to recover your cryptocurrencies. For that, you need to keep your backup phrase securely in a safe place.
- KeepKey hardware wallet
KeepKey is another hardware wallet like Trezor and Ledger which provides advanced security to your cryptocurrencies. It is also multi-currency wallet and supports Bitcoins and other cryptos too.
KeepKey is larger in size in comparison to other two hardware wallets above. It has a bigger OLED screen which provides better clarity to the information about the transaction and other stuff which also makes it easy to use.
A USB cable will be required to connect your KeepKey wallet to your device. KeepKey works with Windows, MacOS, Linux, and Android too.
Initially, the KeepKey hardware wallet was launched at the price of $239 in 2015 but later to make it affordable for customers, they lowered its price to $99 which made it a tough competitor to Trezor.
KeepKey allows you to secure your wallet with a four-digit PIN which makes it impossible to access your coin without the KeepKey wallet and its PIN.
A backup phrase of 12 words will be provided to recover your all cryptocurrencies if the device gets damaged or lost or theft.
Like other hardware devices, it also preserves the private key inside itself, so it is almost impossible to hack or get affected by malware even if the transactions are performed from a compromised computer.
The best thing about KeepKey is user can even use its Shapeshift feature with integration with any software wallets like Electrum, Mycelium, MultiBit or with its own chrome extension.
Compare Between Three Wallets
Ledger Nano S
Windows, Mac and Linux
Windows, Mac and Linux
Windows, Mac and Linux
WhatÂ’s in the wallet box?
Ledger Nano S device
Micro USB cable
Recovery seed booklet
Nylon USB cable
Recovery backup card
OLED Display & Buttons