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Best Bitcoin and Other Cryptocurrencies Hardware Wallets

Best Bitcoin and Other Cryptocurrencies Hardware Wallets; Complete Review

One of the issues about bitcoin and other cryptocurrencies has been finding a safe way to save them. Since the emergence of Bitcoin, many people have lost their assets because of unsafe bitcoin saving methods. So it’s important to use a method that is both safe and easy to work with. One of the safest ways to keep bitcoin is to use hardware wallets. Using these wallets is one of the best options especially for those who have a lot of capital and want to invest in Bitcoin for the long term. Here we have introduced some of the best hardware wallets out there. Let’s look at the benefits and disadvantages of each.

 

Top hardware wallets for storing bitcoin and other cryptocurrencies:

  1. Ledger Nano S wallet
  2. Trezor Model T Wallet
  3. Trezor One Wallet
  4. Ledger Nano X Wallet
  5. KeepKey wallet
  6. BitBox02 Wallet
  7. Coldcard Mk3 Wallet

 

What is a crypto Hardware Wallet and How Does it Work?

Hardware wallets are small, portable devices that store cryptocurrencies’ private key offline and allow users to manage it in a way that is both safe and easy to use.

These wallets are safe devices that can withstand the various attacks that occur on computers, and even if you connect them to a viral computer, there is no problem with your wallet assets.

All crypto hardware wallets are divided into two types of cold wallets (offline) and hot wallets (online) and hardware wallets are the cold types.

If your goal of investing in bitcoin is long-term and you want to keep it for the long-term purpose of investing, it can be said that the best thing is to use a hardware wallet. Of course, you can use other cold storage methods besides the hardware wallet such as a paper wallet. But you should know that when using a paper wallet, your assets are safe until you move or spend them. There is also the risk of paper being lost.

So, if your need goes beyond just your long-term bitcoin maintenance goal and you also want to trade bitcoin and make your payments, then you’ll need hardware wallets to deal with and make your payments completely secure and therefore hackers can’t access your wallet remotely.

Using hardware wallets, you can take advantage of private key generation on your secure device and greatly reduce the risk of losing your capital through phishing, hacking and malware.

As we said, hardware wallets keep your private keys offline and you will only need the Internet when processing transactions.

It is very easy to work with these wallets. In most hardware wallets, to process the transactions, you can just connect them to your computer via USB cable or use mobile wallet software to connect to the hardware wallet.

 

Here are some of the best crypto hardware wallets

Remember, your hardware wallet should be as personal as your toothbrush: If you are planning on buying it, you should buy a new and secure one to make sure they are not manipulated, and use your hardware wallet safely. And also don’t give it up to anyone else.

People looking to buy these types of wallets have several basic considerations when buying:

The most important are security, efficiency, manufacturer credibility, wallet prices, number of currencies backed up, and regular updates.

Here are some of the best crypto hardware wallets:

1- Ledger Nano S Hardware Wallet

Even though it’s been a long time since the release of the Ledger Nano S, it’s still the world’s best-selling hardware wallet.

This hardware wallet was launched in the year 2016, but its acceptance and satisfaction are so high that it is still regarded as the first choice of cryptocurrency investors.

Like other electronics, including mobile, where it has been a long time since a product was launched and newer models were offered by its developer, the price of previous models usually drops, as was the case for the Ledger Nano. The main advantage of using a hardware wallet that is long overdue and at the same time has the required standards is a much lower price than a new hardware wallet.

 

  • Wallet Appearance

The look of the Ledger Nano S is very similar to flash memory. But this resemblance was not accidental. One of the security issues raised with these wallets is that people do not realize its core nature. That’s why most hardware wallet makers and Ledger as one of the most successful wallets in this field, have always tried to apply this apparent resemblance to an electronic device in designing their wallets.

The Ledger Nano S is small and compact, with a steel protector mounted on it to cover both the wallet screen so that no one can notice the difference between the flash memory and also protect the wallet from physical damage.

 

  • Connection type

The Ledger Nano S can be easily connected to a computer using a micro USB cable.

 

  • Security

One of the features that make hardware wallets much more secure than other wallets is the use of physical buttons on these wallets.

To confirm transactions, you must have direct access to the hardware wallet and confirm the transaction using the two physical buttons on it. So the possibility that hackers can remotely access your wallet and remotely move assets inside your wallet is eliminated.

But if you lose your wallet or someone steals it, there are many security layers in your wallet to safeguard your assets.

The first layer of Ledger Nano S security is the use of a 4-digit password so that if your wallet got lost, no one will be able to access your wallet’s assets. If this 4-digit password is entered three times incorrectly, the Ledger Nano S automatically erases all the information in the wallet.

The second security layer is the use of a 22-word expression as a retrieval or seed expression. If your wallet breaks or crashes for any reason, you can use these 24 words to recover your assets in another Ledger Nano S or a software wallet. So don’t forget to write and keep these 24 words in a very safe place.

 

  • Ability to recover coins in other wallets

The Ledger Nano S Wallet can be connected to the Wasabi and Electrum Wallet web server and access the assets in your wallet. You can also use mobile wallets such as mycelium to recover your assets.

 

  • Support for different coins

The Ledger Nano S supports more than 1100 cryptocurrencies (coins and tokens) which, like its new model, the Ledger Nano X, is record-breaking and capable of holding all the top cryptocurrencies on the market except Bitcoin SV (BSV).

Although the Ledger Nano S was released in the year 2013 and 3 years before its new model, the Ledger Nano X, with the support and upgrading of the Ledger Nano S, it can hold all of the cryptocurrency available in the Ledger Nano X.

 

  • Support for instant currency exchange

Using the Ledger Wallet interface, called Ledger Live, all Ledger devices can be connected to this interface and take advantage of the capabilities that this interface offers.

One of the features that can be accessed using the Ledger interface is the ability to connect to Shapeshift and Changelly instant exchanges. With this feature, we can convert assets in our Ledger Nano S wallet without having to transfer our assets from our Ledger Nano S to another wallet.

 

  • Interface

Ledger company offers an interface called Ledger Live for all its devices. So in terms of the user interface and all the features that the user interface provides to Ledger customers, it is the same in all its hardware wallets.

 

  • Wallet price

Nearly 3 years after the release of the Ledger Nano S, its current price on the official Ledger site is $ 61. This price is the most affordable choice for those looking for a hardware wallet, despite all of the positive features and standards that this wallet adheres to.

 

Strengths:

  • Low price compared to its facilities
  • Support for many coins and tokens compared to the other models

 

Weaknesses:

  • Ability to connect to Windows and Android and lack of iOS support
  • Small screen
  • Low memory

 

2- Trezor Model T Hardware Wallet

Trezor Model T Wallet is the latest product from the SatoshiLabs company located in the Czech Republic. The company began manufacturing hardware wallets from the year 2014, with the launch of Trezor one hardware wallet.

Like the other SatoshiLabs products, Trezer Model T released in the year 2018 also is small, sturdy and well-made.

 

  • Wallet Appearance

This hardware wallet looks like a car alarm and is an advantage for those who tend to overlook the basic nature of their device. But the body material is plastic and not very strong.

 

  • Connection type

Trezor Model T has a USB Type-C (USB_C) port for connecting to a computer or mobile, and will soon have a micro SD card used for offline data back-up, for later versions. 

 

  • Security

From security, the resemblance of this hardware wallet to a car alarm can deceive those around and not attract the attention of thieves.

Like other hardware wallets, Trezor Model T uses a password to access the wallet, and a 24-word passphrase as a backup phrase and to retrieve the wallet on other platforms.

Trezor invites security professionals and experts around the world to find and receive awards for security problems in Trezor wallets by tempting them to use cash prizes. During the past two years, two of these security problems have been found in Trezor wallets and have been resolved by the company.

But this continued readiness and willingness to solve security problems have made Trezor a trusted manufacturer of hardware wallets.

 

  • Ability to recover coins in other wallets

In terms of communication with other wallets, Trezor is in good condition. Users of this wallet can connect their Trezor Model T-wallet to the webserver of Electrum, Wasabi, Exodus and even ShapeShift wallets.

 

  • Support for different coins

More than 1000 coins available in the cryptocurrency market can be stored in the Trezor Model T Wallet at the same time, and the number of coins that this wallet supports is increasing over time with the release of various updates.

But of the coins that are among the first 20 currencies, some are not yet backed by the Trezor Model T, and this is a challenge for this wallet.

Out of the top 20 cryptocurrencies, Bitcoin SV (BSV), Tron (TRX), IoTA and NEO cannot currently be stored in Trezor Model T.

 

  • Support for instant currency exchange

Using the Trezor Model T Hardware Wallet, in addition to keeping your assets in a secure environment, you can convert or trade your currencies into two other wallets without the need for the Changelly and ShapeShift instant currency exchanges.

The point about hardware wallet instant currency exchanges is that to use instant exchanges that are integrated into the hardware wallet, we no longer need to open an account at the desired currency.

 

  • Interface

The simplicity of the interface is one of the most important criteria in selecting hardware wallets.

Trezor Model T user interface is called Bridge Client software. It’s straightforward and easy to install. It teaches new users how to approve every operation on their wallet and effectively provides the concept of seed.

The Trezor Model T Wallet user interface, both in terms of simplicity and technically, has gained the most points over other hardware wallets.

 

  • Wallet price

The price of the Trezor Model T wallet is currently available in the world market for $ 195.

 

Strengths:

  • Providing high security
  • Large and colorful screen
  • Support for Changelly and ShapeShift instant currency exchanges
  • Simple and user-friendly interface
  • Open-source software and  hardware

 

Weaknesses:

  • expensive
  • Lack of support for several popular coins, including bitcoin SV, Iota, Tron, and Neo
  • Using web pages for user interface and lower privacy than other competitors

 

1- Trezor One Hardware Wallet

Like the old Ledger model, which still has a lot of fans and is one of the best because of its low price, the same goes for the Trezor company and its older product, the Trezor One.

Trezor One was released in the year 2014 as the first bitcoin hardware wallet, and for the longest time was the only bitcoin hardware wallet on the market.

 

  • Wallet Appearance

The look of the Trezor One wallet is similar to that of its new model, the Trezor T, and SatoshiLabs has taken a firm look at its designs.

 

  • Connection type

The Trezor Model T uses the most primitive method of connecting to computers and mobiles, the Micro USB cable, although it’s been released five years ago.

 

  • Security

Trezor, as the first standard hardware wallet, encompasses all the basic security layers considered in other existing hardware wallets. Using a 22-word password (seed), and having two hardware buttons on the wallet, can protect your assets against existing security risks and damages.

 

  • Ability to recover coins in other wallets

It is possible to retrieve assets in the Trezor One wallet such as the Trezor Model T using the Wasabi Wallet and Electrum Server.

 

  • Support for different coins

Unlike the Ledger company where its new and old model, the Ledger Nano S and the Ledger Nano X coins which supported the same coins and tokens, it’s not happening for Trezor One.

The number of coins and tokens supported in the new Tresor model, the Trezor Model T, is much larger than its old one, the Trezor One.

Although there are many coins and tokens supported by Trezor One, many of the top and most famous coins, such as Ripple, EOS, Tezos, Cardano and Monero are not found on this wallet.

 

  • Support for instant currency exchange

Given the same interface with the Trezor Model T, in the Trezor One, it is also possible to use instant currency exchange rates in this model.

 

  • Interface

Trezor User Interface as mentioned with the Trezor Model T is the bridge client software. It’s easy to install and has the best user interface among hardware wallets in terms of simplicity and technology.

  • Wallet price

As it has been five years since the release of the Trezor One, and since then various hardware wallets have been released, the price of the hardware wallet has dropped compared to the first few years of its release.

Trezor One is currently being sold on the world market for $ 78.

 

Strengths:

  • Price Affordable compared to Trezor Model T
  • small size

 

weaknesses:

  • No SD card support
  • Lack of support for some major cryptocurrencies such as Ripple, EOS, Cardano, etc.

 

Conclusion

A hardware wallet is a physical device that holds Bitcoin and other cryptocurrencies privately and securely online.

For those who want to keep a lot of cryptocurrencies, hardware wallets are the safest and best option.

The hardware wallets are sold in different brands and models, and we’ve listed and reviewed the top 3 of them.

Although it may seem difficult at first glance to use a hardware wallet, these wallets are designed for public use and can be used by anyone with the least knowledge possible.

Hardware wallets support several cryptocurrencies. However, before buying a particular model, make sure it supports your desired cryptocurrency. For example, the Trezor One Wallet supports more than 500 different cryptocurrencies, but Ripple as the third-largest cryptocurrency on the market, cannot be stored on that.

Make sure you back up your hardware wallet so you can recover your assets if your wallet is lost, or stolen. Hardware wallets as a back-up provide the user 24 words to write down. If a problem arises, with those 24 words the assets can be recovered.

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