As Bitcoin attracts more and more buyers every day, the ways in which one can store his crypto assets have become very diverse.
Some are content with keeping their virtual coin in a software or desktop wallet, while others prefer more secure alternatives. And if you’re in it for the long-run, that does not sound like a bad idea. For long-time holds, it is recommended you use a paper wallet or a hardware wallet.
A hardware wallet is a physical electronic device, built with the sole intent of storing cryptocurrencies. Hardware wallets have better security than software wallets, keeping private keys separate from the internet- connected devices. Your assets are practically immune from threats like scams and hacks, and even if your hardware wallet was stolen or someone hacked your computer, you can always have your virtual coins restored to a new wallet.
That’s because no one can transfer Bitcoins or altcoins without them knowing your secret pin code. So far, no one reported theft or loss of assets from a hardware wallet. In the following article, we will list some of the Best Hardware Wallets available on the market.
Ledger Nano S
The Nano S was created by a France-based start-up company, LedgerWallet. The product has a sleek and aesthetic design, an easy to use OLED interface and support for a variety of cryptocurrencies (Bitcoin, Bitcoin cash, Ethereum, Ethereum Classic, Ripple, Komodo, Ark, PoSW, ERC-20 tokens Litecoin, Dogecoin, Zcash, Dash, Stratis).
Other notable features include a backup seed key which can be used to recover lost coins and a two buttons on the side which will help you easily navigate the interface.
It does not require batteries and you recharge it by connecting it to your desktop or mobile device via USB. The price reasonably affordable, compared to the other hardware wallets on the market, selling at around $63.
LedgerWallet has been in the business long enough for if to be considered a reputable company, gathering mostly positive feedback from its customers.
The Trezor hardware wallet is one the oldest wallets on the market. It was created by SatoshiLabs and it is recognized as the world’s first secure hardware wallet.
Trezor has a design similar to that of a small calculator, featuring an OLED screen with a very simple to use interface. It generated nine digit pins and 24-word recovery seed keys in the eventuality that the device gets lost or damaged. The device was made to store private keys and store transactions offline of crypto coins such as Bitcoin, Bitcoin Testnet. Ethereum, Ethereum Classic, Litecoin, Namecoin, Dogecoin, Dash and Zcash (ETH being supported through the use of an external wallet called MyEtherWallet).
Trezor has a solid reputation, one of the company founders being the first to create a mining pool for Bitcoin.
Trezor can be used with devices that support the Android operating system with apps like Trezor Wallet, Multibit HD and Mycelium. Its price is currently $ 99.
KeepKey is a hardware wallet which has a beautiful design albeit somewhat large (approximately two times bigger than Nano s and Tezor) which might make it a bit inconvenient to carry around in your pocket.
It offers backup seed key feature which is pin code enabled and it has the same functions just like other wallets.
The company isn’t as reputable in the community, getting a few bad reviews from buyers. It currently supports six currencies: Bitcoin, Ethereum, Litecoin, Namecoin, Dogecoin, Dash and Testnet. KeepKey can be bought for $99.
Although hardware wallets cost more money, the level of security you will get is much more important. The world of cryptocurrency is full of cases of hacking and theft, so it’s best you avoid such scenario by storing your cryptocurrencies in a hardware wallet.