If you dabble in bitcoin or other cryptocurrencies, you might be able to get away with storing your private keys in a software wallet. But if you are serious about crypto, mining your own bitcoins, or investing a lot of money in crypto, then a hardware wallet is something you should seriously consider.
A state-of-the-art hardware wallet
Here we have a compact hardware wallet that not only holds your cryptocurrency private keys, but can also be a device that can be used to store passwords and even be used as a U2F hardware token.
The Trezor Model T is easy to use thanks to its touch screen. Another attractive feature of the Model T is that it is quick and easy to install; you can be up and running after following three simple setup steps.
Yes, the price has gone up in recent months (like most things, especially cryptocurrency-related things), but this is still the best cryptocurrency hardware wallet you can buy.
- Store passwords
- U2F hardware token
- Setup in three simple steps
Simplified version of the Trezor Model T
Need a hardware crypto wallet that costs less than $100? Take a look at the Trezor One.
This is a scaled down and simplified version of the Trezor Model T which is perfect for those who want a cheaper and simpler wallet that does not compromise on security.
There is also a three-pack of the Trezor One available if you wish to purchase a set in order to have backups.
The price has gone up in recent months, but it’s still a bargain, at under $100.
- Simplified version of the Trezor Model T
- does not compromise safety
- Available in a pack of three
Everything is protected by a PIN code
It is a bitcoin hardware wallet that looks like a USB drive. The Ledger Nano S supports over 30 different cryptocurrencies (including Bitcoin, Ethereum, XRP, Bitcoin Cash, EOS, Stellar, Dogecoin and many more), and all ERC20 tokens, and everything is code protected 8 digit PIN.
- Supports over 30 different cryptocurrencies
- protected by an 8-digit PIN code
For those who want high security
This is the hardware wallet for those who are ultra-paranoid or want high security. The ColdCard Mk3 device is a high security device that is built around high security hardware and open source software. It also has a brilliant OLED display and a full-size number pad.
You can complete the ColdCard with a range of accessories, including an adapter that allows you to power the ColdCard from a 9V PP3 battery, protecting you from attacks that might use a compromised USB charger.
- Built around high security hardware and open source software
- Brilliant OLED display and full-size number pad
- Complete the ColdCard with a range of accessories
Fireproof, waterproof, shockproof and anti-hacking
Crafted from indestructible 316 marine grade stainless steel, this is a cold storage cryptocurrency wallet designed and built to be fireproof, waterproof, shockproof and hackproof. It is the perfect tool to secure your seed phrases, which would allow you to recover your private keys in case your e-wallet is lost or broken.
- Made of indestructible marine grade 316 stainless steel
- fireproof, waterproof, shockproof and anti-hacking
- Can be difficult to open the first time
What is a crypto wallet?
A crypto wallet is a device that stores and manages the private keys you hold for your cryptocurrency. They act much like the way you keep money in your wallet or purse, or the way your bank details are stored on your credit or debit cards.
Is a crypto wallet the same as a bitcoin wallet?
Yes. Bitcoin is a type of cryptocurrency, and most hardware wallets work with a wide range of cryptocurrencies.
How did we choose these cryptocurrency hardware wallets?
There are a number of factors to consider here.
- Price: Not everyone wants to spend $200 on a wallet.
- Durability: A broken hardware wallet can make you hate your life (not to mention the hardware cost), so choosing something that will last is a good investment.
- Reputable manufacturer: You could entrust thousands of dollars worth of cryptocurrency to a hardware wallet, so you want to know that your wallet was made by a reputable company with a proven track record of providing secure and reliable products.
- Ease of use: Setting up a hardware wallet can be quite daunting, but it can be made all the more difficult if the documentation is poor (or non-existent) or if the device itself is quirky and unpredictable.
What are the different types of cryptocurrency wallets?
There are two types of wallets: hardware and software. A software wallet is an app that lives on your computer or smartphone, or even on the web, while a hardware wallet is a separate physical device (much like a wallet or purse). This hardware wallet is connected to a PC or mobile device to perform transactions.
Software wallets range from free to, well, not free, so they’re great for those just starting out. Since hardware wallets cost you money, there’s a financial investment you need to make early on.
Why do you need a hardware wallet?
It is important to note that you do not need a hardware wallet to buy, store or send bitcoins or any other cryptocurrency. Some people hold several thousand dollars in bitcoins or other cryptocurrencies and do not use a hardware wallet.
However, where hardware wallets shine is the improved security they offer compared to an app that lives on a smartphone, computer, or in the cloud. Having a device that creates air space between your private keys and other apps, the internet, and bad guys provides vastly improved security against hackers and viruses.
Hardware bitcoin wallets give you complete and total control over your private keys.
What are the pros and cons of hardware crypto wallets?
- Enhanced Security: Full air space between your private keys and everything else.
- Better control: you hold your keys and can separate them from all your other devices.
- Easy transport: Bitcoin hardware wallets are small and easy to transport. But they can also be safely stored in a safe or vault.
- No reliance on any third-party app or web service: apps and services come and go.
- Cost: Bitcoin wallet hardware solutions are not free.
- Added complexity: there is always a learning curve with hardware, and some bitcoin wallets have quite advanced features that will get you through the manual.
- Loss, destruction, theft: equipment can break, get lost, be stolen, become obsolete or succumb to all kinds of mishaps.
- Another thing to consider: if you need to make a trade, you will need your wallet!
What should you consider when buying a cryptocurrency hardware wallet?
Yes, a hardware bitcoin wallet offers greater security, but you still need to make sure you’re buying a decent device from a trusted source.
You also need to decide what level of security you need. For some, having the air space of a separate wallet is enough, while others will feel the need for increased security and a device that offers higher levels of security, biometrics and even security. isolate the device from possible sources of attack, such as USB chargers.
You also need a backup, just in case. Maybe it’s another hardware wallet, or maybe you’ll go for a “cold storage” solution which could include printing your private keys on paper, or even engraved, stamped or engraved in metal.
Another consideration is price. Unless you plan to hold huge investments in cryptocurrencies, it might sting a bit to spend over $100 on a wallet.