A Crypto wallet is a place where people store their private keys which is responsible for allowing holders access to their crypto coins. Using different kinds of wallets, people can send and receive coins safely throughout the world.
However, a wallet can be categorized into three main types according to their functions which include a software wallet, paper wallet, and hardware wallet. If you wish to store your funds in a hardware wallet and have not been able to get the most reliable device that can ensure maximum protection, this article will focus on the top 5 cryptocurrency hardware wallets.
What is a Hardware Wallet?
Since the internet is home to numerous cyber-attacks and malicious activities, storing funds on it is risky. A hardware wallet is a better option in terms of security purposes since it stores and allows access to people’s funds offline.
The wallet comes with a USB port that connects to your wallet and keeps your private keys off from your laptop or mobile. You can connect your wallet with your computer either through a web-based interface, a separate software wallet, and a company-created app.
The Top 5 Cryptocurrency Hardware Wallets
According to their robust features and string security mechanisms, the given cryptocurrency wallets are definitely the top hardware wallets.
1. Ledger (Nano S and Nano X)
With a 3.9 google rating and a 4.6/5 Amazon rating, Ledger is certainly one of the top hardware wallets. The Nano S wallet is owned by the Ledger company and is compatible with over 1800 cryptocurrencies. The wallet supports multiple coins that include BTC, ETH (and ERC-20 tokens), BCH, XRP, Polkadot, Litecoin, Binance (and BEP20 tokens), Cardano, Tezos, Monero, Dash, and many more.
The Ledger Nano X wallet looks like a compact USB device that is based on a smart card. In terms of size, the wallet resembles the size of a small flash drive. The device has an 8-hour standby mode, measurement of 72mm × 18.6mm × 11.75mm (2.83 x 0.73 x 0.46 inches) and weighs 34g. You can use this wallet with your phone or laptop using its Bluetooth functionality that saves you from the hassle of connecting the wires.
Ledger Nano S is a compact USB device (based on a smart card) that measures 39 x 13 x 4mm (1.53 x 0.51 x 0.16in) and weighs in at just 5.9g. It also looks like a small flash drive in terms of size.
The only thing that differentiates both of the wallets is their ability to support multiple cryptocurrencies at a given time. While Ledger Nano X can support numerous crypto at once, the Ledger Nano S on the other hand can not. You will need to install and remove the apps to use a particular wallet. If you wish to buy the Ledger wallet series, its price ranges from $70 to $159.
2. Trezor (Model One and Model T)
The Trezor hardware wallet comes with a USB cable that is ready to plugin and can be used instantly. The pack also includes clear instruction that helps users guide through it. The Trezor wallets are known for their security aspects since they utilize modern cryptography to protect users’ funds.
You can set a 24-word seed and passphrase in case you lose your wallet. The seed phrase can be generated offline by using an RNG (Random Number Generator) from the device and the computer. To secure the key, the password never appears on the screen of your device (mobile or laptop), instead, it appears on the wallet’s screen.
To prevent any brute-force hacking attempts, the wallet has an inbuilt PIN system that prolongs the waiting time between the incorrect password guesses. The time is raised by a power of two which means you will have to wait for 17 years for 30 incorrect guesses. The wallet is supported by many Android apps, such as Mycelium, Trezor Wallet, and Multibit HD.
The wallet has a 3.8 Google rating and a 4.5/5 Amazon rating. It supports multiple coins. For instance, BTC, ETH (and ERC-20 tokens), Binance Coin (and BEP20 tokens), Dogecoin, Avalanche, Cardano, Ripple, ETC, Tezos, Litecoin, BCH, Monero, and many more.
- Trezor Model T
With Trezor Model T, users can access third-party exchanges instantly from the Trezor internet interface such as CoinSwitch. It comes with a touch screen which makes it easier for users to operate them. If you want to get your Trezor wallet, its price ranges from $60 to $215.
3. Ellipal Titan
In terms of appearance, the Ellipal Titan wallet looks like a small mobile phone that has an aluminum alloy surface which prevents it from any physical damage. The device measures 118 x 66 x 9.7mm and the LCD measures 3.97inches. The wallet has a dust and waterproof surface. Ellipal Titan has a 4.7 Google rating, 4.⅗ Amazon rating, and it is also IP65 rated. The price of the device ranges from $119 to $199.
The wallet is secured since it has no online ports or other components which prevents the connection of the device to the internet. Users can connect to exchanges through their smartphones, can manage their accounts, and keep themselves notified about the current market insights.
The coins supported by this wallet are multiple. For instance, BTC, ETH (and ERC-20 tokens), Binance Coin (and BEP20 tokens), XRP, Cardano, Dogecoin, Litecoin, ETC, Polkadot, and the list goes on. The device is made with a built-in security adapter which allows the users to insert the Ellipal security adapter to the bottom of their device and then insert the charging cable to the adapter. As a result, users can charge and update their devices offline.
The wallet asks you to set a 12-word mnemonics that will keep your data secure and even let it restore if the data is lost as a result of any breach. Users remain fully aware of the data exchange processes because of the visual interface. The wallet can also support multi-chain account systems and multi-cryptocurrency because it is paired with a universal OCCW (Open Cross Chain Wallet) Protocol.
4. SafePal S1
The SafePal’s S1 hardware wallet resembles the size of a credit card. It has a 1.3’ high-resolution IPS screen. To protect the device from cyber attacks, it is powered with an air-gapped signing mechanism that allows no Wifi, Bluetooth, NFC, or other radiofrequency offering 100% offline cold storage.
The device is made by a world-leading security architect to offer a hassle-free user experience. On the other hand, SafePal also secures the private keys through an embedded EAL 5+ secure element and a true random number generator.
The wallet is good at detecting malicious or suspicious activity and immediately eliminating all your data from the device with its self-destruct mechanism. Moreover, it also lets your funds be protected with its BIP39/44 seed phrase recovery. If you want to restore your key you can utilize your mnemonic phrase.
You can pair your wallet with the SafePal App that will enable you to discover more effective features. For instance, decentralized exchange, token swap, dapps login, etc. The coins supported by the wallet include BTC, Binance (BNB), ETH (and ERC-20), Ripple, Polkadot, Dogecoin, Solana, Litecoin, BCH, ETC, and much more.
If you want to send, swap, buy, exchange, and secure your crypto in the most convenient way try using the SafePal wallet which has a 4.3 /5 Amazon rating and can be available at $49.99.
5. D’CENT Biometric Wallet
With its Bluetooth functionality, a certified Secure chip (EAL5+), and built-in Fingerprint sensor,
D’Cent Biometric Wallet offers a highly convenient cold storage solution to keep your funds protected through biometric verification.
The device measures 4.3 x 7.7 x 1.1cm, weighs 36g, and has a 128×128 Pixels OLED display which lets the complete transactional data appear on its screen. The device has multiple buttons that will help users to navigate easily.
The wallet has a long battery life since it is made with a lithium-ion battery that ensures maximum and prolonged usage. You can use an iOS and Android mobile app to use your wallet on the go.
The coins supported by this wallet include BTC, ETH, BCH, Zcash, XRP, Binance Coin (BNB), Litecoin, Dash, Tron, ETC, and many more. You can even add more coins according to the needs and trends of the market. The wallet has a 4.5/5 Amazon rating and is priced at $159.
The Importance of Hardware Wallets
Hardware wallets are important for the following reasons:
A hardware wallet is like a portable key in the form of a plugin device that enables users to access their cryptocurrencies from any corner of the world. You can access many dApps and apps including Facebook or Google through simple log-in. Also, the wallet is compatible with many blockchains allowing ease for the users.
A hardware wallet adds a security layer to your funds and keeps your keys protected with a single recovery phrase that can restore your lost data.
A software wallet might offer convenience and save people from connecting them through ports, but a hardware wallet can offer you the protection that a software wallet might lack. However, investing in a hardware wallet is not effortless. A person must analyze its cost, security mechanisms, and coin compatibility while purchasing them. We hope our list of the top 5 cryptocurrency hardware wallets helps you make a wise purchase.