With the overt inclusive methods employed by bitcoin, there is a hefty demand where people are joining this realm. There are users who are happy keeping their coins away in their wallets on their desktop, but what if they want something safer.
Well, for a long-term investor, this idea doesn’t seem so bad. But with long term “HODLers”, paper or the best hardware wallets must be used. Bitcoin Hardware wallets are largely endorsed as they offer a great layer of security and you can use them for daily use.
Hardware wallets offer more security as opposed to software wallets which are prone to scams and theft. With the best bitcoin hardware wallet, you won’t be vulnerable to hacks unless someone steals your wallet.
But the coins can be retained even if you misplace the hardware wallets. One of the best things about bitcoin hardware wallet is its security pin code, which can be used to transfer any coins from the wallet to another. Additionally, there is no chance of installing any ambiguous software that can record and monitor your logs.
What is a bitcoin hardware wallet?
These are tamper-proof devices which are designed to keep your private key offline. Digital signatures and private keys are generated during transactions through these wallets.
The way you are setting up your wallet, it would require you to write and store your seed word in a safe place.
Make a few copies of it and distribute them. Your keys are offline which automatically means that you won’t be vulnerable to hacks. Some wallets have a digital screen with a UI while others have grids for security cards which verifies a transaction.
For long term storage, it is wise to invest in a hardware wallet. Your order will take some time to arrive since they are in high demand these days.
Their two-form authentication is a handy feature that keeps it resilient to hacks or steals.
Best Bitcoin Hardware Wallets (Top 10 List)
If you are in search of the best bitcoin hardware wallet, then you have arrived at your destination. This comprehensive list will be talking about some of the best hardware wallets available in the market. There are minor differences with each one of them but the choice will still be yours.
Best Bitcoin Hardware Wallets (Descriptions)
1. Ledger Nano X
This is Ledger’s flagship product for hardware wallets. This device can impressively manage about 100 crypto assets, which you can control via their Ledger Live Mobile Application. It is almost like using Ledger Nano S but on steroids. The primary downside to this device is its Bluetooth feature which is not quite smooth but updates are always coming through to fix such issues. It is currently the biggest competitor of Nano X.
- This device is mobile compatible with Bluetooth and wide support for multiple coins.
- UI through Bluetooth tends to get confusing at times.
2. Ledger Nano S
It is quite an impressive investment for enthusiasts. This company has made this sleek device which supports a wide array of altcoins which are over thirty (few of them are Dash, Ripple, Ethereum. Litecoin, Dogecoin, ERC-20 tokens at all). Its UI is very intuitive and user-friendly. The ledger can be accessed via its Ledger Live application. The application is a free desktop software which will allow you to control the ledger of this device. Additionally, you can receive and send crypto coins and check your wallet balance regardless of your geographical location.
- Intuitive UI and easy to use with support for multiple coins
3. Trezor One
Trezor One was formerly known has TREZOR and is the oldest known hardware wallet device that came into the market. It has garnered a lot of reputation during its launch. It has a very simple and minimal design with an easy, intuitive UI. It supports a wide number of crypto coins such as Bitcoin, Bitcoin Gold, Zcash, Dash, Ethereum, Bitcoin Cash. Litecoin, Ethereum classic, and NEM.
Ripple is however missing and the device is yet to support that which grabbed the public attention due to its popularity. It is still one of the cheapest hardware wallets on the market right now and is a great investment for crypto coin owners. The company’s reputation is something its competitors look out for since one of the founders, Mark Palatinus was also responsible for creating the first ever Bitcoin mining pool. There is one annoying downside to this device.
During upgrades of its firmware, it frequently deletes the entire wallet. For people who are starting out, it might give them a panic attack. But if you have kept your back phrase locked up somewhere, then you can just restore the wallet. This is something to be aware of before if you are buying this particular wallet.
- Market veteran with a resounding reputation
- It comes with a low price tag.
- Upgrades frequently resets your wallet.
- Ripple is yet to be supported.
KeepKey is a bitcoin hardware wallet with a large but beautiful design. Their features bear similarity to that of TREZOR and Ledger Nano S. But its aesthetic appeal might be of someone’s acquired taste.
The size of this wallet makes it inconvenient for carrying it inside your pocket. It is twice the size of Ledger Nano S or Trezor One.
There are certain alarming things about this product which needs to be considered, for instance, their support is often not responsive and Amazon has some concerning reviews. But it supports a wide range of altcoins such as Bitcoin, Dogecoin, Litecoin, Namecoin, Testnet, Dash and Ethereum.
One of the most attractive and useful features of this wallet is its in-wallet exchange which allows anyone to trade between one crypto to another without any external interference. It is one of the most expensive options for a hardware wallet.
- In-wallet exchanges feature via Shapeshift
- Beautiful design with a large form factor.
- Unreliable reviews
- Unresponsive customer support.
- The form factor makes it inconvenient for its mobility
- Is one of the most expensive choices in the market.
5. Trezor T
It is basically a Trezor one hardware wallet but with a touchscreen panel. The features of both these wallets are the same except that its touch screen provides a difference. This one features actually put in a lot of difference.
When your wallet is set for the first time or when it’s restored, you have to enter your seed phrase. In case your device doesn’t have an interface where you can punch in the code, you’d have to do it with a computer separately. However, with its touch panel, you can type in your seed phrase and get at it right away.
It is a secure device since it keeps you away from vulnerabilities and hacks. In case your computer is compromised and the intruder has your seed phrase, they still won’t be able to get into your device. The correct order is only displayed on the interface of this hardware wallet.
This device excludes the possibilities of any threats since all its interactions can be done through its touch panel. There is also no worries regarding malware intrusion. It is twice the price of its predecessor Trevor one and the price is unjustified given the additional features are few in number.
However, it gives an extra layer of security which long term investors look for. The touch screen design is the only perk that will make you consider buying this compact hardware wallet.
- In-built touch screen panel which gives added security.
- Expensive price tag.
6. Archos Safe T mini
Archos is a French MNEC which was established in the year 1988 by founder Henri Crohas. They manufacture smartphones, media players, tablets and portable storage units. They are a novice when it comes to the market of the hardware wallet.
Safe T Minus was unveiled as their first hardware wallet product which is a very basic hardware wallet. It functions as a two-factor authorization device with a private key, which are basic functionalities of any hardware wallet.
The interface of this device is limited and if you have to carry out transactions, then additional software is required for that purpose. Electrum can be used to send or receive bitcoins via this device.
They are cheap and is a cheap alternative for those who are starting out. But definitely is an alternative to the expensive devices of its kind. Given that this company is new to this market, it is advisable to shell money on brands that are seasoned and holds the reputation.
- Easy to set up
- Affordable alternative.
- Basic features and is relatively new in the market.
There are a few devices that weren’t mentioned. Some of them are,Bitfi, Bitlo, CoolWallet and Opendime. Be sure to buy the wallets directly from the manufacturers rather than from third parties.
There have been reported cases of fraudulent devices that were bought through Amazon and eBay. Hardware wallets are an investment worth making, one that gives your assets more stability, accessibility and added security.
Author: Vijaya Bharti
With a background in finance and a passion for writing, she has made her passion her profession. Her endless desire to learn new things developed her interest in Blockchain Technology and the Crypto world. She enjoys writing and learning in the process as she believes there is no end to gaining knowledge. She likes to unwind by watching online series or reading when she is not working.