Instead of being in constant fear of losing your funds due to the high probability of a wallet being hacked, it is much more convenient to store coins on USB drives - hardware wallets, the level of protection of which allows owners to be sure of their safety.
A cryptocurrency hardware wallet, as opposed to the assets it stores, is tangible. Most of them have operating systems, easy-to-use interfaces, and international language support. The most important distinguishing feature of hardware wallets from other storage options is 100% security of cryptocurrencies and the absence of the possibility of unauthorized access by unscrupulous market participants.
Browse popular hardware wallets
All hardware wallets function with one goal - to protect the funds of their owners from hacks and theft. The main differences can be traced in the price, the variety of supported cryptocurrencies and additional options. This review will help you better understand which wallet is best for you.
Ledger Nano S
Ledger Nano S is one of the most popular hardware wallets. It is easy to use and has an incredibly high degree of protection against burglaries and thefts. Ledger Nano S supports more 30 cryptocurrencies. Management is carried out using two buttons.
The wallet is protected by a chip similar to those used in passports and credit cards.
Ledger Nano S is distinguished not only by its reliability, but also by its availability. Today, its price is a little over $ 100 and it still remains the cheapest hardware wallet with an OLED display. It should be borne in mind that buying a wallet from intermediaries, the price of the device often doubles or even triples, so to avoid a huge mark-up, the output will be buying on the manufacturer's official website.
Pros:
- support a large number of cryptocurrency;
- ability to integrate with many software wallets;
- availability of OLED-display;
- One of the most affordable hardware wallets with an OLED display.
Cons:
There are no minuses as such, but there are difficulties in using it. The forums often have questions related to the operation of the device (firmware upgrade, recovery of coins if the wallet is lost or damaged, PIN change, additional protection).
Trezor
Trezor, translated from Czech as “vault”, is a hardware wallet that guarantees the protection of cryptocurrencies from hackers and malware.
The device is a USB-drive operating on the principle of zero trust. During the work, he uses several levels of protection, thus ensuring the security of transactions even when working with a compromised or vulnerable computer.
Pros:
- high level of protection;
- multicurrency wallet;
- easy to manage interface.
Cons:
- limited capabilities (the device must be connected to a computer, unlike mobile or paper wallets, which can be used on the go).
- relatively high price (at the time of this writing, the Trezor One model is valid on the official website).
KeepKey
KeepKey is another noteworthy cryptocurrency hardware wallet. The company uses advanced technologies to provide its owners with the opportunity to store savings in a safe and secure place. The device can be compared to a miniature computer specially designed to store private keys.
This hardware wallet is slightly heavier, and more than twice as large as Ledger Nano S and Trezor. The principle of operation is similar to competitors. KeepKey integrates the wallet software onto a computer, generating private keys and signing transactions.
KeepKey supports Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, Dash, Bitcoin Gold and ERC-20 standard tokens.
KeepKey is considered one of the most reliable HD wallets on the market.
The recent price reduction by KeepKey makes it more affordable for purchase.
The device can be purchased directly on the official website of the company or through intermediaries. When released on 2015, the price of the device was more than $ 200, but since then its cost has decreased significantly and today is $ 129. Despite this, KeepKey is still a more expensive option than the same Ledger Nano S.
Pros:
- high-quality security standards practically do not allow hackers or viruses to get to the private keys;
- offers the same security features as the more well-known products, such as Trezor;
- OLED display simplifies the process of using the device;
- provides access to the world's leading cryptocurrencies;
- relatively low price.
Cons:
- no web wallet function (users must integrate software such as Electrum or MultiBit).
Bitbox
Digital Bitbox is a hardware wallet created by the Swiss company Shift Devices AG.
The wallet comes with its own software, thereby reducing the risk of attacks in the browser. Users use the device offline, the presence of a microSD card simplifies the process of transferring funds between wallets.
Digital Bitbox supports BTC, LTC and Ethereum tokens (ETH, ETC and ERC 20), with plans to add support for more coins in the future.
Pros:
- proprietary software that allows you to avoid security threats in the browser;
- thanks to the bulletproof case, the device is portable and durable;
- the private key is stored on a special chip that cannot be physically extracted;
- Digital Bitbox code, including firmware, desktop and mobile applications, is open source;
- minimalist design so as not to draw too much attention - simplicity is part of the security of Digital Bitbox;
- "Swiss ideals".
The Digital Bitbox site advertises “Swiss ideals,” which include quality, privacy and the absence of backdoors.
Digital Bitbox for € 59 plus € 19 for FedEx Priority Express shipping worldwide. Depending on the location, there may be additional costs in the form of payment of import duties and VAT.
Digital Bitbox is a standalone solution that provides protection with backup and restore via microSD card. The built-in software client Digital Bitbox allows owners to avoid security risks when working in the browser.
Bitstash
The BitStash storage solution is aimed at a wide audience of consumers, offering simultaneously three storage methods. Each of them is designed for different purposes: cold storage, hardware wallet and mobile wallet.
BitStash consists of a physical device that performs the functions of safe storage of coins. The mobile wallet effectively fights mobile malware through global two-factor authentication by introducing captcha.
BitStash has a full-featured user interface that allows you to check, send and receive payments in a specially designed client.
Pros:
- in addition to the basic PIN and Captcha procedures, BitStash has a built-in self-destruct function (for example, the device can be programmed to deactivate after three unsuccessful password attempts);
- BitStash allows you to make backups on one or more LUKS-enabled USB devices and can be restored using sid-phrases.
The cost of the BitStash package is $159.
Hack and predictor Aviator
To date, not a single case of theft or loss of cryptocurrency from a hardware wallet has been registered. Even in case of damage to the device, the user can easily restore its contents by typing in a sid-phrase.
In order to protect the savings of their owners, all the wallets listed above offer:
- The high level of security achieved due to the possibility of autonomous storage.
- PIN code. This four-digit password is one of the top security recommendations.
- Sid-phrase. If the device is lost, access to coins can be restored by entering phrases from 24 or 12 words.
- code phrase. They provide an additional option - entering additional text to the seed phrase.
But to keep your digital assets safe, remember:
- When setting up the device, follow the instructions clearly. 100 wallet% secure. But the safest wallet in the world is useless if it is not properly configured.
- Buy hardware wallets only from the manufacturer or authorized dealer, as the purchase of a used wallet puts you at risk of hacking and theft.
- Do not disclose your personal data. Under no circumstances disclose the PIN of your hardware wallet and your private keys.
- Do not lose recovery phrases. It will be useful for you to gain access to cryptomonet, in case your wallet is lost or stolen. Better yet, make a few copies. So, in case of loss of one of them you will always have a stock.
A hardware wallet will help keep your digital currency safe. And although the initial cost of $ 100 and more can be a stumbling block, but having spent them on the purchase of an autonomous device, as a result, the owner will be able to get much more.