If you are a cryptocurrency owner, you may worry about hackers stealing your cryptos. They have stolen millions of dollars’ worth of cryptocurrency over the years, through phishing emails, trojan viruses, and software flaws.
The safest and most secure way to store your cryptocurrencies is in a good quality hardware wallet.
A hardware wallet, also known as a cold storage wallet, is a physical device whose only purpose is to keep your cryptocurrency safe and secure.
There are many hardware wallets in the market; each with its own pros and cons.
Below we look at some of the best hardware wallets in the market:
1. Ledger Nano X
The Ledger Nano X is a more updated version of the Nano S wallet, offering advanced features and greater security.
The Ledger Nano X comes equipped with CC EAL5+ certified secure chip. This is often used in credit cards and passport applications for keeping the data isolated in the device. It comes equipped with encrypted Bluetooth connectivity, which allows it to connect to Ledger’s online application so that the transactions can be managed.
The Ledger Nano X uses a 24 word recovery seed to restore funds in case the device gets lost or damaged. It can store up to 100 crypto applications. However, these do not come pre-installed and therefore need to be installed by the user.
2. Ledger Nano S
The Ledger Nano S is a smaller and cheaper version of the Nano X. It has fewer crypto applications and there is no Bluetooth connectivity. The other features are the same.
3. Trezor One Hardware Wallet
The Trezor is a relatively old and popular hardware wallet. It has a simple design that consists of a small screen and two buttons for use. It is connects to a computer through the USB port. The Trezor is cheaper than the Ledger It is completely offline, and its memory can be extended through a micro SD card.
The interface is not that user friendly. The small screen and small buttons can be a bit fiddly to use. Moreover, updating the firmware, can result in the whole wallet deleted. For new users this can be scary and unsettling. However, the wallet can be easily restored with the original backup phrase.
4. Trezor Model T
The Trezor Model T has an improved user interface thanks to the installation of a touch screen integrated LED. This saves time and allows for the seed phrase to be entered much faster. It comes equipped with an SD card slot for memory expansion and supports a greater range of coins than the Trezor One.
5. OPOLO Wallets
This is an offline cryptocurrency wallet that never goes online, which keeps the private keys safe from hackers. It uses a Secure Element CC EAL6+ Certification for its hardware and its software. It allows the user to choose a password and passphrase up to 120 characters long, which is the longest in the market. The USB connection between the wallet and desktop/mobile is encrypted and secure. The wallet has a 3.2-inch touch screen, making it small enough to fit into a pocket, yet large enough so that it is easy to use.
The OPOLO desktop app works on Mac, Windows, Android, and Linux. The wallet supports over 110 coins and thousands of tokens, with more cryptocurrencies being added on a regular basis, with each update. This means that the user can transfer, send, and receive almost all of the major cryptocurrencies from one platform.
The OPOLO app has a clever feature that allows users to exchange coins securely from within the wallet, via a secure integration with a Coinswitch and Changelly. The wallet also has a 3.2-inch touch screen. More coins are added to their application and device with each update.
6. SecuX V20
This hardware wallet is supported on Mac, Windows, Android, Linux, and IOS. It supports over 1000 major cryptocurrencies. It uses Secure Element (SE) and EAL 5+. This hardware wallet comes equipped with a 2.8 inch touch screen and requires physical confirmation for each transaction. The wallet can generate 12, 18, or 24 character passphrases.
7. Cobo Vault Wallet
The Cobo Vault is another secure hardware wallet that supports multiple currencies. Resembling a smartphone device, it is completely offline and comes equipped with a camera and a touch screen. Made from alloy metal, It has a secure, robust feel. Using this hardware wallet requires installation of the mobile app. Transactions are signed using QR codes. Attempts to tamper with it physically trigger a self-destruct mechanism that wipes the wallet clean. As long as the passphrase is not lost, the waller can be easily restored. The wallet comes with a Cobo Tablet that stores your passphrase for recovery and backup.
8. D’CENT Hardware wallet
This hardware wallet claims to be the first bitcoin smart contract ready hardware wallet. It only supports a few cryptocurrencies currently but intends to integrate more in the future. For now, it supports bitcoin, ETH, RSK, RRC-20, XRP, and Monacoin. It comes with a built-in fingerprint scanner for security. The display is Oled size is 128 x 128 on which users can view transaction details and the QR code for each wallet.
9. Xzen Wallet
This wallet uses an NFC chip to store cryptocurrencies and fiat currencies. Users can convert, exchange, transfer, provide credit facilities, and take part in ICO projects, all from within the app, which works on IOS, Android and dekstop versions. It features an LCD touch screen, Bluetooth, and an 1100 mAH battery. Users that store more than 1000USD get the wallet for free, and enjoy free cryptocurrency transfers.
10. Keevo Wallet
The Keevo wallet comes equipped with a 2.8inch screen and two triple-core processors. It is secured by a multi-signature authentication process and dual-chip mechanism. Private keys can be recovered by the Keevo carbon key, pin code, and fingerprint scanner. The company has a premium service where, in case of death, the beneficiary can access the wallet private keys after authentication. Moreover, the company claims the product is water and dustproof.