A reliable hardware wallet to safeguard and handle your cryptocurrencies is essential. From buying your first bitcoin to advanced altcoin trading, security should be a top priority.
The best hardware wallets provide you with optimal security, peace of mind and clean functionality.
What is a hardware wallet?
Hardware wallets allow you to store private keys to cryptocurrencies securely offline when not in use. A private key is what you use to control cryptocurrency funds on the blockchain. If hackers gain access to your private key they will be able to take your coins. Remember, the blockchain stores your coins and a wallet stores your private key.
Disconnecting a wallet from the internet is the simplest and most effective way to stop hackers from accessing your funds. Hardware wallets allow you to do this usually through a USB connection or even Bluetooth. You can essentially think of a hardware wallet as a USB stick or external hard drive with added functionality. They are the perfect solution for storing large cryptocurrency funds allowing you peace of mind while offline.
What are the best hardware wallets?
There are a few different options to consider for the very best cryptocurrency hardware wallets. Taking into consideration security, usability, functionality, trust and price, here are the top choices.
Ledger Nano X
The French company, Ledger, come with a heralded reputation for creating industry-leading products. Their latest flagship is the Ledger Nano X.
It combines the discreet nano stainless steel design with Bluetooth mobile functionality. Perfect for managing cryptos securely direct from any smartphone. Whilst Ledger has had a few firmware glitches in the past they seem to have overcome these hurdles now.
The Nano X now offers added storage capacity allowing 100 cryptocurrency management apps at one time. A redeveloped user interface creates an enjoyable user experience including portfolio tracking across multiple accounts. The Nano line has built quite a fan club over the years thanks to a sleek USB stick design making it an unassuming cryptowallet.
Add to this, supporting 1000+ coins and a competitive price, the Ledger Nano X is up there with the best. If you’re looking for a slightly cheaper option the Nano S is a proven choice and still the go-to for many users.
The Trezor T is the latest advancement from the longstanding cryptocurrency wallet experts. The Trezor T presents as an industry-leading choice for the less tech-savvy whilst still catering to the most demanding investors.
Security is arguably higher than its competitors, with all setup actions including pincode performed on the device touchscreen. Naturally, it is bigger than the Nano X but that’s no real issue. Hardware wallets should be stored safely rather than in your pocket.
For the first time user, the setup of the device is super easy and quick. It’s straightforward and less intimidating than setting up other wallets. The outer shell is completely plastic and lightweight. It feels a touch fragile, but that being said you are storing the device safely and securely right?
It is more expensive than competitors but you get a tactile touch screen wallet supporting over 1000+ assets. If you want first-rate security and uncomplicated user interface go for the Trezor T. The Trezor T is a costly product, those on a budget should take a look at the Trezor One.
Keepkey is the outsider looking to break the market dominated by Ledger and Trezor. Whilst it trails in some aspects, there are some unique features that earn it an honorable mention.
Shapeshift, an instant crypto exchange, acquired Keepkey in 2017 and have been working to add functionality to hardware wallets. The main USP for the Keepkey is the ability to exchange cryptocurrency within the wallet. A real bonus for users who don’t want to transfer funds in and out of exchanges. Although be aware this is likely to come at a cost, make sure you check what fees and exchange rates you are getting.
Convenience usually comes at a price, using instant services like Shapeshift is always more expensive than fully-fledged exchanges.
Keepkey is larger than the competition, once again not really an issue for most people. It supports major assets including Bitcoin, Litecoin, Ether, Bitcoin Cash, Dash and Dogecoin plus a selection of ERC-20 tokens. The small variety of supported Cryptocurrencies make this wallet less than ideal for traders with a spread out portfolio.
With a price tag of well under $100, the Keep Key is an uncomplicated option for new crypto investors who want a simple exchange facility built into their hardware wallet.
Each of the best hardware wallets has its pros and cons. Ledger Nano X is sleek, secure and mobile-friendly. Trezor T takes security and usability one step further. Keepkey brings new exchange functionality to the market.
Depending on your needs and requirements, either one of these Hardware Wallets could be right for you.