If you’re into Bitcoin or other cryptocurrencies, you may be able to store your private keys in a software wallet. However, if you are serious about crypto, mining your own bitcoins, or investing serious money in crypto, you should seriously consider a hardware wallet.
A state-of-the-art hardware wallet
Here we have a compact hardware wallet that not only contains your private cryptocurrency keys, but also a device that can store passwords and even use it as a U2F hardware token.
The Trezor Model T is easy to use thanks to its touchscreen display. Another nice feature of the Model T is that it’s quick and easy to set up. You can be up and running in three simple steps.
$ 179 on Amazon
Everything is protected by a PIN code
This is a hardware bitcoin wallet that looks like a USB flash drive. The Ledger Nano S supports more than 30 different cryptocurrencies (including Bitcoin, Ethereum, XRP, Bitcoin Cash, EOS, Stellar, Dogecoin and many more) as well as all ERC20 tokens. Everything is protected by an 8-digit PIN code.
$ 51 on Amazon
For those who want a high level of 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 based on high security hardware and open source software. It also has a brilliant OLED display and a full-size numeric keypad.
You can expand the ColdCard with a number of accessories, including an adapter that allows you to power the ColdCard with a 9V PP3 battery to protect you from attacks that may use a compromised USB charger becomes.
$ 120 at Coinkite
Fireproof, waterproof, shockproof and hackproof
Made of indestructible marine grade 316 stainless steel, this cryptocurrency wallet is fireproof, waterproof, shockproof and hackproof. This is the perfect tool to keep your starting phrases safe. This is a great way to recover your private keys in case you lose or damage your electronic hardware wallet.
$ 106 on Amazon
What is a Bitcoin Wallet?
A bitcoin wallet is a device that stores and manages the private keys you have for your cryptocurrency. They are similar to how you store money in your wallet or purse, or how your banking information is stored on your credit or debit cards.
What are the different types of cryptocurrency wallets?
There are two types of wallets: hardware and software. A software wallet is an app that resides on your computer, smartphone, or even the internet, while a hardware wallet is a separate physical device (similar to a wallet or purse). This hardware wallet is connected to a PC or mobile device to carry out transactions.
The price of software wallets ranges from free to not free. They are therefore great for beginners. Since hardware wallets cost money, you need to make a financial investment right from the start.
Why Do You Need a Hardware Wallet?
It’s important to note that you don’t need a hardware wallet to buy, store, or send bitcoins or other cryptocurrencies. Some people hold many thousands of dollars in Bitcoin or other cryptocurrencies and don’t use a hardware wallet.
Where hardware wallets shine, however, is the improved security they offer compared to an app that runs on a smartphone, computer, or in the cloud. A device that creates an air gap between your private keys and other apps, the internet and the bad guys offers vastly improved security against hackers and viruses.
Hardware bitcoin wallets give you complete control over your private keys.
What are the pros and cons of hardware crypto wallets?
- Improved security: Total air gap between your private keys and everything else.
- Better control: you hold your keys and can separate them from all other devices.
- Ease of Transport: Bitcoin hardware wallets are small and easy to carry around. But they can also be safely stored in a safe or safe.
- No dependency on any third-party app or web service: apps and services come and go.
- Cost: Hardware Bitcoin wallet solutions are not free.
- Additional Complexity: There’s always a learning curve with hardware, and some Bitcoin wallets have fairly advanced features that you can use to reach for the manual.
- Loss, destruction, theft: Hardware can break, be lost, stolen, out of date or succumb to all kinds of mishaps.
- One other thing to worry about: when you need to make a transaction, you need your wallet!
What should you consider when buying a cryptocurrency hardware wallet?
Yes, a hardware bitcoin wallet is more secure, but you still need to make sure that you are buying a decent device from a reputable source.
You also need to decide how much security you need. For some, the air gap of a separate wallet is sufficient, while others feel the need to improve security and have a device that offers a higher level of security and biometrics, and even isolates the device from possible sources of attack. like USB chargers.
You’ll need a backup too, just in case. Perhaps this is a different hardware wallet, or perhaps you opt for a “cold store” solution where your private keys are printed on paper, or even engraved, stamped, or etched into metal.
Another consideration is price. Unless you’re planning on making large cryptocurrency investments, spending more than $ 100 on a wallet can be a little tricky.
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 life (not to mention the cost of the hardware). Therefore, choosing something that will last a long time is a good investment.
- Serious manufacturer: You can trust a hardware wallet with thousands of dollars in cryptocurrency. So you want to know that your wallet is made by a reputable company that has been proven to provide safe and reliable products.
- user friendliness: Setting up a hardware wallet can be daunting enough, but it can become all the more difficult when the documentation is poor (or nonexistent) or the device itself is weird and unpredictable.