Hardware wallets are the tampered proof cold storage device that stores your bitcoins and other cryptocurrencies in the secure device by keeping your private keys offline.
In the world of Bitcoin and Cryptocurrency, the biggest problem from which people are suffering is to store the cryptocurrency in a secure environment for a long time.
Currently, a Hardware wallet is the most secure way to store your bitcoin and other cryptocurrencies. It provides both good security as well as easy accessibility and management of cryptocurrencies.
Also Read:
What is the Hardware Wallet? Why do you need a hardware wallet?
How to find the Best Hardware Wallet for yourself?
- Ease of use: The hardware wallet must be easy to set up and get started with usually for the new users. If it is complicated and complex then users may lose their funds by doing some mistakes during setting up the hardware wallet especially new users. So you should choose a hardware wallet that is very simple and easy to get started without any complexity.
- Security features: This is the most important step for any user to check the security features in order to find a good hardware wallet. You need to check that is it provides PIN protection and passphrase security? Is it provide seed backup on the device itself? Is the hardware wallet provide its own display screen and buttons? Is it show the address and transaction details on the device for confirmation? Is it sign the transactions by the device without leaving the private keys from the device? Is it provide features where the user must have physical access to the device to do any transactions from it?
The last thing that you must check is the hardware wallet did not suffer from security breaches in history. - Price: The hardware wallets are not free because they are wallets with hardware and hardware is not free. Also, you can see that there is great competition of price between different hardware wallets. It is really a good deal to get a well-reputed hardware wallet at a low cost.
- Cryptocurrencies supported: Every user should check the supported cryptocurrencies by the hardware wallet before buying it. You need to confirm the cryptocurrencies that you are likely to store are supported by the hardware wallet you are going to purchase.
- Backup and restore: Is the hardware wallet allows you to take a backup of it? can you restore the backup any time in the future easily? Backup and restore of a hardware wallet should be simple and easy as it provides the users a great level of security for their funds where your funds are safu even after you lost the device or someone steals your hardware wallet device.
- Operating system supported: You must find a hardware wallet that supports the operating system running on your personal computer and mobile otherwise you will face problems in order to access your hardware wallet and using other computers is not a really good idea at all.
- User Interface: The hardware wallets with a complex user interface create many problems for users in order to access their cryptocurrencies and sometimes they lost their funds due to bad user interface. So you need to check out the user interface of the hardware wallet must fit good for you and you can access your cryptocurrencies easily without any problem.
- Easy crypto access and management: You need to confirm that the hardware wallet company is providing its own software to access and manage the cryptocurrencies or it using the third-party app’s integration for this purpose. It is best for a user if the hardware wallet provides its own software that is also good for security purposes as third parties apps can be hacked and have bugs and you have to trust them.
The following are the most popular and reputed hardware wallets used worldwide.
Ledger
Pros: Easy to use, good company reputation, multiple currency support, feature-rich, beginner-friendly
Cons: Device can be lost or stolen, Not open source
Ledger hardware wallets support more than 1100 crypto assets including all erc20 tokens.
Ledger Hardware wallets provide you with a large number of features, check here for more info.
The Ledger provides a Ledger live app to easily manage your crypto assets on the device.
Ledger also provided multi-channel customer support to its users via live chat, social media and through the contact form.
We recommend you to buy a ledger device from the official website. If the official website is unable to deliver at your location you can buy from Amazon. Be aware there are many complaints about fake ledger devices on Amazon so please verify your device before use.
https://shop.ledger.com/collections/all-products
Trezor
Pros: Easy to use, good company reputation, feature-rich, beginner-friendly, Open source
Cons: Device can be stolen or lost
Trezor Hardware Wallet is the safest wallet to manage & trade your cryptocurrencies.
Trezor Hardware wallets also support more than 1000 crypto assets including all erc20 tokens.
As Trezor is an open-source then the bug or errors can be resolved very easily and too quickly.
Check the source code on GitHub – https://github.com/trezor
We recommend you to buy Trezor device from the official website. If the official website is unable to deliver at your location then you can also buy it from Amazon. Be aware there are many complaints about fake Trezor devices on Amazon so please verify your device before use.
https://shop.trezor.io/?h=7472657a6f722e696f
KeepKey
Pros: Easy to use, good company reputation, feature-rich, beginner-friendly, in-wallet exchange via Shapeshift, open-source
Cons: Device can be lost or stolen, less attractive, large size
KeepKey hardware wallets have almost all features of the above two types with additionally having built-in exchange support of Shapeshift where you can convert your cryptocurrencies directly through the device without any risk of a hack.
Check here for the cryptocurrencies supported by the KeepKey hardware wallets.
KeepKey’s firmware is 100% open source and you can check the source code on GitHub
We recommend you to buy KeepKey device from the official website. If the official website is unable to deliver at your location you can buy from Amazon. Be aware there are many complaints about fake KeepKey devices on Amazon so please verify your device before use. https://keepkey.myshopify.com/
Also Read the following topics:
How To Store Bitcoin in a Secure Way?