Are you still unsure whether you should buy a hardware Wallet for your cryptos? Besides that, you don't know what to choose? Well, I think you are on the right page.
Here is a comparison guide to the best hardware wallets/physical wallets on the market.
The most secure way to store your Bitcoins and other cryptocurrencies is to use a physical wallet. This is commonly called hardware wallets. If they are known to be the most "secure", it is mainly because they do not connect continuously to the Internet and thus avoid the risk of hacking.
As the name suggests, it is a small physical device that holds your offline private keys. In this article, we are going to cover the best hardware wallets and also give you a general overview of the best hardware wallets that exist on the market.
1/ The Jade wallet, developed by Blockstream
If there is a wallet that is very popular among bitcoiners and especially among bitcoin maximalists, is good the Jade wallet.
With an affordable price, robust security, the Jade wallet was developed by the Blockstream organization which is one of the largest players in theBitcoin ecosystem.
- For the : Very easy to set up and easy to store.
- Cons : Possibility of storing only bitcoin.
- The : The Jade wallet is 58 euros and you have a 10% discount using the code “ZoneBitcoin”.
This is a very simple and practical version of what you can look for in a hardware wallet. JADE's interface is minimalist and it is a wallet dedicated simply to storing bitcoin. It should be noted that this is a open source wallet, which remains a fundamental element when you are looking to buy a hardware wallet.
To carry out transactions, the Jade wallet is compatible with a mobile application, which then allows you to send and receive transactions. The advantage of the Jade wallet is that it allows you to connect not with a USDB cable but with the "air gap" reading function. Thus, you can flash the QR codes to be able to sign your transactions.
Priced around $58, Jade is an affordable alternative to more expensive hardware wallets.
2/ Ledger : The most famous Hardware wallet
The Ledger is certainly the best known and most used hardware wallet. The company released two models, the first of which is the Ledger Nano S. Since then, the Ledger Nano X has been available, which is the improved version of the Nano S.
- For the :This wallet allows you to securely store more than 1000 different cryptocurrencies.
- Cons : The interface and screen is a bit small; not very easy to read.
- The : The Ledger Nano S costs 59 euros and the Ledger Nano X costs 119 euros.
The company (LedgerWallet) has been around long enough to gain a respectful reputation, and in all honesty, it's hard to find anything bad to say about their products.
Access to your wallet is through a free desktop application that allows you to control all your crypto accounts. You can then send and receive cryptocurrencies and view your balance at any time. All you have to do is connect your wallet to your computer.
The company has released several versions of its wallet. Today, the latest Ledger Nano Ledger when it comes to hardware wallets. The device has an impressive capacity to handle 100 crypto assets simultaneously. It's like using the Ledger Nano S but in a higher version. There is also the Bluetooth function.
From my own experience, the main downside is that the Bluetooth user experience wasn't as smooth as I expected. But, hey, I happily do without Bluetooth actually.
Also, know that the Ledger allows you to do Staking. Even if it is for very little crypto, it can make an argument.
3/ Trezor : The first wallet launched on the market
Trezor, like Ledger, is also a stable company with a good reputation. The company has launched two types of wallets, the first model of which is the Trezor One and the second more efficient model which is the Trezor T.
- For the :This wallet allows you to securely store more than 1000 different cryptocurrencies.
- Cons : There were (at the time anyway) a lot of updates that were quite confusing for the beginner.
- The : The Trezor One at 59 euros and the Trezor T at 149 euros.
TREZOR (which means “safe” in Czech and refers to the word treasure in French) was the very first company to come up with the idea of a hardware wallet. The main advantage that Trezor has over its competitors is the company's reputation.
One of the founders of the company is Marek "Slush" Palatinus, which also created the first mining pool for Bitcoin in 2010.
In fact, Trezor wallets have one annoying drawback: when you update the wallets firmware, it frequently deletes the entire wallet. If you are new to crypto, this may scare you. As long as you have your backup phrase, you can simply restore the wallet, but you need to be aware of this.
In any case, you should always keep your backup phrase somewhere safe (piece of paper, USB key, etc.).
How does Trezor hardware work?
TREZOR is actually a Trezor One wallet with a larger touchscreen. Both wallets offer the same features, but the touchscreen makes the difference. It's already a larger screen than that of the Ledger, so it's already really more practical.
When you restore your hardware wallet or even set it up for the first time, you are often asked to enter your generic phrase. If you don't have a proper interface on your hardware wallet (i.e. a touchscreen), you will need to enter your seed phrase on your computer.
If your computer is infected with malware, your seed phrase is therefore vulnerable to key extension or other forms of hacking. That said, even if someone manages to get the words from your initial sentence, they still don't know what order to put them in because they are not displayed on your computer (they are displayed on the hardware wallet).
The Trezor T completely eliminates this threat, as all interactions are done on the touchscreen of the hardware wallet, so you don't have to worry about malware (these devices are not designed to protect it from malware).
So it's just like the Ledger, an excellent hardware wallet for your cryptocurrencies.
4/ The most practical hardware wallet: CoolWallet
I have to say that it is by far my favorite with the Ledger and for several reasons that I will explain to you here. You should know that this is one of the most recent companies to arrive on the market, which may explain why you know little or nothing about it. Coolwallet ( For now).
- For the : It's shaped like a credit card and fits easily into your wallet.
- Cons : It works with your smartphone.
- The : The Cool Wallet costs $99 but you can buy 2 for $159.
I must admit that what interested me the most when I discovered the CoolWallet was its size. I like the idea that you can easily carry it and hide it anywhere unlike other hardware.
In addition, this hardware wallet is water resistant! And, I put it as a disadvantage, but it's also a huge advantage: it doesn't need to be connected to a computer.
I must say that for me, this is the great strength of this hardware. You can simply use it with your smartphone as long as you have Bluetooth.
So this is a wallet that I use and highly recommend to people looking for a practical solution.
5/ KeepKey: The hardware wallet design
In 4th place we have Keepkey a very aesthetically pleasing Bitcoin hardware wallet with a beautiful design. Keepkey has similar features to TREZOR and Ledger Nano S, but for several reasons I find it a little less appealing than the previous three. However, in the concept, I really like it...But, that's just my opinion...
- For the : In addition to a wallet, it also serves as a well-designed exchange with Shapeshift
- Cons : Not enough cryptocurrencies supported
- The : The KeepKey at 49 dollars.
The first criticism I could make of it is that it remains too large to be put in a pocket like the Ledger or the Trezor. For example, it is almost double in size of the ledger. But, apart from that, nothing to note. It is a very good wallet in terms of security and design.
But I couldn't tell you anything more derogatory about him. I know a lot of people are happy with it. And, we must admit that its touch screen is rather super practical.
But, the only major objective flaw of this wallet is that it only allows you to store 40 cryptocurrencies... This is really low compared to the 1000 cryptocurrencies supported by other wallets.
That said, the great advantage is that you can exchange your cryptocurrencies directly on this hardware wallet. This is a definite advantage because you know that there are sometimes very high fees when you want to exchange your cryptos. So, being able to do it directly on your wallet is actually a very good thing.
So, if you are the type who likes to exchange your cryptos with each other, this may be the right wallet for you.
Conclusion: Is it absolutely necessary to have a hardware wallet?
It doesn't get simpler than this title. Yes, hardware wallets cost money and no one likes to spend money on things they can get for free. However, the security you get from using a hardware wallet is much more valuable than the $50-$100 you'll pay to purchase the actual device.
In some time (months? years), cell phones like the SAGA phone of Solana will have integrated security features.
➡ Useful note : Also make sure to always purchase the wallet directly from the company or an authorized reseller. Many cases of frauds and ofscams have been reported by hardware wallet buyers on eBay and sometimes Amazon.
And, do you use a hardware wallet to store your cryptos? Which one do you use? Let us know in the comment section below.
Questions you may ask about hardware wallets (FAQ)
Do hardware wallets really offer the best security?
It would be wrong to tell you that hardware wallets are absolutely infallible. Even cold wallets have vulnerabilities.
Indeed, remember that the funds are not in your wallet and that they are actually used to sign transactions. To do this, you inevitably have to connect to the internet in one way or another. Even in a matter of seconds you can encounter a virus.
On the other hand, a hardware wallet remains a device with electronic components. This means that there is obsolescence of components. You should not forget this aspect when considering purchasing a cold wallet.
How to protect your recovery phrase?
One of the most important aspects of keeping your cryptocurrencies secure is to be sure that your seed phrase is safe. That's the most important thing: keeping your private key out of everyone's sight.
With hackers and other pirates raging on the web, it is risky and not recommended to keep your private keys on your computer, even if it is you naming the file with a different name like "mobilette". From the moment you are on the internet, that your computer is not extremely well protected, you take the risk of having your private keys hacked. This is a fact that you really need to be aware of.
We advise you to read this article which gives you 12 tips to protect your seed phrase.
How do Hardware Wallets work?
When you want to send cryptocurrencies from one wallet to another, you simply connect the device to a computer. You enter your PIN and sign the transactions. As simple as that. Your cryptocurrencies are not held in the device itself. Rather, they are devices that allow your transactions to be signed but the funds you own are in the blockchain.
In terms of security, and in absolute terms your private key will never leave your hardware wallet as all the signatures of your transactions are made by the hardware itself and not on your computer.
To summarize, a hardware wallet is essential for securing your cryptocurrencies. This is clearly essential if you plan to have a significant capital of cryptocurrencies. This is especially useful if you don't have confidence in the security of your computer.
However, you should not forget that when you connect your device to a computer, even for a few seconds, there is still a security risk. Nothing is 100% secure and some hackers have managed to hack hardware wallets.
What is the best hardware wallet?
This question is difficult to answer because all wallets are quite similar. There are different types of wallet, however, to be distinguished. There are those that are open source and are known to be more robust and better options in the long term. Indeed, when software is open source, the community can then collaborate on it indefinitely and update the software.
-> See the 6 best open source hardware wallets.
Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.
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[…] is not a question that can have a clear and drastic answer. Remember that hardware wallets, being offline, are the most secure wallets. All crypto wallets […]