Since the success of cryptocurrency, a lot of new inventions and innovations were made to support it. A Hardware wallet is one such innovation. A hardware wallet can be defined as a special kind of bitcoin wallet used to store the private keys of the user in a hardware device with security.
They have more advantages than software wallets like:
The top 5 Hardware wallets in 2020 are:
Ledger Nano S is perhaps the best crypto wallet in the market at present. The main reason for this is, it is easy to use and supports a wide variety of currencies. The good reputation of the company added to its success.
Ledger Nano S has a very sleek design, and it is small and compact. You can keep it in a pocket or in hand. It is more durable than other hardware wallets in the market right now.
Ledger Nano S supports many types of cryptocurrencies, and it is the best bitcoin wallet. It is also one of the few hardware wallets for ripple. Ledger Nano S sells for $99 which makes it a little expensive than other best crypto wallets like Trezor hardware wallet and Archos Safe-T.
This not only helps to hold your various cryptocurrencies but also helps to support your software wallets. It can be used to protect the existing software wallets like MyCellium, Electrum, MyEtherWallet, etc.
Using Ledger Nano S is also very easy. You can access your Ledger Wallet through Ledger Live, which is a free desktop application. This application will allow you to maintain all your ledger wallets, send and receive cryptocurrencies and check your balance anytime.
Click here to download Ledger wallet
KeepKey perhaps has the most beautiful design of all the hardware wallets. It is the largest of all the other wallets and is a little difficult to carry. KeepKey is fairly recent, but it surely is giving a tough competition to other popular hardware wallets.
KeepKey has a compact design and it offers digital animations too. This makes it feel much better to use it in comparison to other hardware wallets. It is very durable in itself. Though this is hard to carry everywhere, it certainly does hold a lot of bitcoins. KeepKey offers its users the utmost security as it uses the same security system as Trezor hardware wallet.
KeepKey is specialized in handling bitcoins making it the best bitcoin wallet. But its services are not limited to bitcoin. It supports other cryptocurrencies like Litecoin, Dogecoin, Namecoin, Testnet, Ethereum, and Dash. It is one of those few hardware wallets for altcoins and bitcoins.
However, KeepKey has only one downside. It is way more expensive than Ledger Nano S. Keepkey currently sells for $129 and is the most expensive option of all. This price is exceptionally higher than any other best crypto wallets. But it surely offers some best features.
Click here to download KeepKey wallet
Trezor One is perhaps the oldest hardware wallet and is the most reputed one. Trezor hardware wallet has a very simple design and is easy to carry anywhere. It supports a very wide range of cryptocurrencies except for ripple. It is the only popular cryptocurrency that isn't supported by Trezor. So, clear Trezor isn't a hardware wallet for ripple.
Trezor features a touchscreen and is extremely easy to operate. The price of Trezor is $80 at present making it the cheapest hardware wallets when compared with its biggest competitor Ledger Nano S.
But certainly Trezor One too has its own disadvantages. While upgrading the firmware of the wallet, it deletes the complete wallet. If you are a beginner in the crypto field, it can be very much annoying for you. You must have backup the wallet before restoring it.
But when compared with Ledger Nano S, Trezor certainly seems more user-friendly given its low price, touchscreen feature, simple design, etc.
Click here to download Trezor wallet
Archos Safe-T Mini is perhaps the most basic version of hardware wallets for altcoins. And it is definitely new to the cryptocurrency field.
This hardware wallet is highly recommended if you need a portable wallet. Archos Safe-T Mini is very light and easy to be carried anywhere. It also has an offline private key storage using an encrypted chipset memory. It has a very easy setup and also multiple cryptocurrency support.
Speaking of price, Archos Safe- T mini is the cheapest hardware wallet available at present. Its price is $50 as of now.
The device is unhackable and offers great security. A 24-word seed recovery key is provided to protect your keys and to recover your information, in case you have lost your device. So it is the best hardware wallet for altcoins.
This wallet can be used by cryptocurrency owners of all levels of experience, from beginners to advanced traders. Anyone who wants to store cryptocurrencies for the long term should use a hardware wallet. The Safe-T generates and stores your private keys offline using an encrypted chipset memory (Crypto memory). It features a secured EEPROM (Electrically Erasable Programmable Read-Only Memory). The contents of this read-only memory can only be erased and reprogrammed using a pulsed voltage. High-level security is offered by it.
However, this is clearly new to the field of cryptocurrency. So, proper knowledge is required before buying this wallet.
Click here to download Archos wallet
Coldcard is bitcoin hardware wallet which was announced in 2017 and launched in 2018. It is easily the cheapest but the best bitcoin wallet.
Coldcard lets you store and submit your transactions with revealing your private keys like other cryptocurrencies. You’ll need to confirm all your transactions on this external device physically.
The Coldcard supports a secondary wallet (with a different seed) and derived duress wallets too. The duress wallets are a plausible deniability feature. If someone forces you to open your wallet, you can open this decoy wallet instead (thereby protecting the funds in your main wallet).
But Coldcard is not for everyone. It only supports bitcoin and Litecoin. It is a bad choice if you want a hardware wallet for altcoins. As of now the price of Coldcard is $55 making is one of the most affordable hardware wallets. Though it is very recent, the features it is offering made it a success in less time. It actually became one of the main competitors of popular wallets like Trezor and Ledger Nano S., But unlike them, this isn’t the best hardware wallet for altcoins.
So, given the recent success of cryptocurrency, it is evident that a lot of people are investing in it. So having a hardware wallet is a very good choice. It is quite certain that these wallets cost money and it is also certain that if you are getting something for free, why will you spend your money on it. But looking at the bright side and considering all the possible security and features these hardware wallets has to offer, those prices seem reasonable.
There is no one best crypto wallet. All the 5 wallets are almost equally good, but on some level, Trezor One and Ledger Nano S are more preferable.
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