With cryptocurrency prices on the roof, more and more people are starting to invest in digital assets like Bitcoins and Ethereum. Central banks are issuing warnings about an impending Bitcoin bubble, but that doesn't seem to be holding back anyone's enthusiasm for this new asset class. So if you want to participate too, the first thing to do is set up a Bitcoin Wallet to store your digital money . While there are many different types of wallets to store your crypto investments, the use of active web-based wallets means that you really don't have any control over your money, leaving you at the mercy of the service provider's security infrastructure which has often proven to be the weakest link for cryptocurrency security, with over a billion dollars said to have been stolen, hacked, or cheated by trusted investors over the years. This is exactly why we recommend using hardware wallets to store cryptocurrencies.
The best hardware Bitcoin wallets to use
With cryptocurrencies becoming more widespread, many companies are starting to offer hardware wallets, but here are the best and most time-tested to use:
1. Nano S ledger
The Ledge Nano S is by far the most recommended hardware wallet to store Bitcoins. It is manufactured by a France-based technology company and offers a wide variety of features for cryptocurrency investors. The device comes with two hardware buttons and a secure OLED screen to verify and confirm each transaction. You also need a 4-digit PIN code (of your choice) every time you connect. One of the best features of the device is the 'backup seed key' It can be used to recover your cryptocurrencies in case the device is lost or damaged.
The Ledger Nano S is based on a dual chip architecture (ST31 / STM32, certification level: CC EAL5 +), while the integrity of the firmware is guaranteed by cryptographic certification. In addition to Bitcoin, the device also supports several other popular cryptocurrencies, such as Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, Dash, Stratis, Komodo, Ark, PoSW, and ERC20. Overall, this is a well-reviewed, relatively cheap, and feature-rich cryptocurrency wallet that is generally considered a necessity for cryptocurrency investors. The device currently costs a little over $ 70 on Amazon EE. But we've seen it before at $ 65. In the euro zone, it will cost 58 at the company's official web store.
Buy from Amazon: ($ 72.90)
Made by Satoshi Labs, Trezor is the original hardware wallet that started it all . It comes with an OLED screen and is compatible with a 24 word recovery seed key Like the Ledger Nano S. The device runs on open source software and is compatible not only with Windows, macOS and Linux distributions, but also with Android devices and Applications such as Mycelium and Multibit HD. All you need to do is connect your Trezor to the computer and follow the instructions. The device comes with two hardware buttons that allow users to confirm or reject transactions with a single click. Users can also back up content on a small piece of paper and use this backup to regain access to all their coins in case the device malfunctions or is lost.
Trezor uses cryptographic algorithms of Vanguard which are open source, which means that everything can be audited by an independent third party, ensuring that operations are transparent and free from the back door. Trezor supports a series of altcoins, such as Litecoin, DASH, Bitcoin Cash, Ethereum, Ethereum Classic, ERC20 tokens, Zcash and more. Trezor costs $ 99 in the US. USA And 89 in Europe. While devices like the Ledger Nano S offer better value for money, the Trezor remains one of the best considered products in the segment.
Buy from Amazon: ($ 99)
KeepKey is another hardware Bitcoin wallet that has functionality quite similar to that of the two devices on this list. However, it has the same function of key initialization back with PIN enabled like the other wallets, but supports less altcoins . While support for Bitcoin is a fact, KeepKey will also help you store Ethereum, Litecoin, Namecoin, Dogecoin, Dash, and Testnet. The device works with Windopws, macOS, Linux and Android.
While KeepKey is a very decent device when taken in isolation, one of the factors that makes it relatively less popular than the two mentioned above is its size. It is significantly larger than its peers, making it difficult to carry in your pocket. It's also priced at the higher end of the spectrum, costing 89 a pop from the company's website. You can buy it on Amazon if you are in the United States.
Buy from Amazon: ($ 129)
As mentioned above, many startups are starting to launch cryptocurrency hardware wallets with increasing public awareness about the technology. CoolWallet is the result of one of these projects that originally started as an Indiegogo campaign by a startup called CoolBitX in 2014. Unlike the other devices on this list, CoolWallet looks like a credit card and it is completely waterproof. It also has a screen that shows passwords and seeds in "protection mode" to ensure that only the user can see the actual content.
The CoolWallet comes with a clickable circular control button which allows users to operate the device. It also has a built-in rechargeable battery that is said to last up to two years. The card can be bent up to 15 degrees and is heat resistant up to 60 degrees Celsius. Overall, this is the only hardware bitcoin wallet you will get, but please note that only started shipping a few months ago, so it must still be demonstrated as an effective, reliable and privacy-oriented alternative. Its most established rivals.
Buy at CoolBitX: (starts from $ 119)
BitLox is another hardware portfolio that comes with the credit card form factor, although it is also a relatively new participant in the industry. Like Trezor, Bitlox also comes with firmware open source . Even its applications that are used to communicate with the device and the blockchain are open source and can be found on Github.
Bitlox offers do you copy from 12, 18 or 24 word memory security to recover funds in case of loss or damage to the device. It is totally BIP32 and BIP39 compatible And it comes in three different packages: Advanced, Ultimate and Extreme. Prices start at $ 98 for the first option, and each top option costs an additional $ 50.
Buy on Bitlox: (starts at $ 98)
Opendime is a small USB stick that acts as a read-only flash drive . Works with any computer, laptop, and phone. The private key it generates remains undisclosed even to the owner, making it one of the most secure hardware wallets on the market.
The main features of OpenDime include signing Bitcoin messages, regular bitcoin payment addresses (not HD) and private keys in WIF format. If you plan to buy the device, please note that does not have a screen, which can be a problem in some cases.
Buy from Amazon: ($ 49.99 for a pack of 3)
7. Digital Bitbox
Digital Bitbox is manufactured by a Swiss-based company called Shift Devices, AG. It is a minimalist bitcoin hardware wallet that comes with open source software and cool features like smart verification and two-factor authentication, compatibility with Tor and Tails operating systemas well as Optional multisig . The device comes with BIPS32 support, while a micro SD card allows offline backup and recovery.
Digital Bitbox only supports BTC and Ethereum (ETH, ETC, and ERC20 tokens) right now, but there are plans to add more altcoins in the future. The device costs 54 ($ 63) in Europe, while residents of the United States must pay 79 ($ 93), including a FedEx Priority Express fee of 25.
Buy from Digital Bitbox: ($ 93)
Pros and cons of using hardware wallets
Hardware wallets are physical devices specially designed that allow you to store and secure your offline crypto assets on your own hardware . The devices come with buttons that must be pressed to authenticate each transaction, making them as safe for hackers as possible. Most hardware wallets also provide what is known as a 'initial backup' In the event that the device is lost or stolen, so no matter what, you and only you are always in charge of your digital assets, making these devices the best options for storing digital riches.
However, while hardware wallets do help keep your keys secure offline, they also have some major drawbacks. First, you will always have to carry your wallet as a USB flash drive for transactions. Also, no you can access your coins if you forget or lose your recovery seed backupSo it is crucial to make several copies of your private keys or your recovery code and distribute them to the people you trust so that the money can be recovered even if something happened to you.
Get a hardware wallet to protect your cryptocurrencies offline
Now that you know the best hardware for Bitcoin wallets, go find one before putting more money into digital assets. You can continue to use hot wallets for loose changes, but to store a large amount of Bitcoin / altcoins safely, the least you can do is get one of the devices mentioned above. Once you do, remember to let us know about your choice, because we love hearing from you.