It’s simple to keep your cryptocurrency safely using a hardware wallet for cryptocurrencies. A hardware crypto wallet, often known as “cold storage,” gives you the best peace of mind regarding your cryptocurrency investment because it is essentially unhackable since it is not kept on any network. To help you find the ideal solution for you, read on to learn about some of the top hardware wallets and safety factors you should consider.
Are Hardware Wallets for Cryptocurrency Really Safe?
The majority of hardware wallets resemble external hard drives or USB flash drives. When you move money into or out of your wallet, they are not connected to the internet unless you connect them to a computer that is. Hackers are unable to remotely access your cryptocurrency investment over the internet as long as you remember to unplug the wallet when you’re finished.
Some hardware wallets for cryptocurrencies don’t even have an internet connection. Instead, you use the device’s touch screen or QR codes to access your investments.
Naturally, there is still a chance that your cryptocurrency wallet will get lost or stolen, so it’s crucial to maintain it secure at all times.
You need a wallet that will provide you the assurance you require.
- will not wear out or break over time and withstand testing
- has a trustworthy backup system
- is resistant to harm from shock, fire, and flooding so that you can always retrieve your investment
What Crypto Hardware Wallets Are the Best?
Here’s a look at the features provided by five of the top solutions to assist you in selecting the finest crypto hardware wallet for your requirements.
5 Best Crypto Hardware Wallets
Ledger Nano X, best overall cryptocurrency wallet
The Nano X hardware wallet from Ledger is referred to as “the greatest way to securely buy, manage, and grow all your digital assets” on its Amazon product page.
How true to the hype is the cold wallet? The Nano X retails for $149, making it neither the cheapest nor the most costly hardware wallet. (Read on to find out which chilly wallet receives this distinction.)
The Nano X is portable and compact, roughly the size of a USB thumb drive, and connects to any smartphone using Bluetooth technology. You may manage up to 100 different cryptocurrency types simultaneously with the Nano X. More than 5,500 coins and tokens are supported.
If your favourite coins or NFTs are not supported by Ledger Live, you can invest in and trade using a trusted third-party wallet. Ledger Nano X is the ideal cryptocurrency wallet for both novice and experienced investors because of these features.
Pros
- reasonably priced
- 5.500+ supported currencies and tokens
- Little in size
- supports Android and iPhone
Cons
- a touch screen that is smaller than some wallets
- Cannot use the wallet to buy cryptocurrency using USD
Ledger Nano S Plus, best wallet for cheap cryptocurrencies
The Ledger Nano S Plus would be GOBankingRates’ top recommendation if you’re searching for a top-notch, safe, streamlined, and simple-to-use cryptocurrency wallet for around $100. This is due to the fact that the Nano S Plus costs only $79 while offering many of the same capabilities as its larger sibling, the Nano X, including USB drive aesthetics and a 4.5-star Amazon rating.
You can manage more than 5,500 digital files and install more than 100 programmes simultaneously, much like the Nano X. Both drives are independently certified by ANSSI and use the same high-tech security. The key distinction between the two is the larger storage capacity, longer standby time, and Bluetooth compatibility for use with both Android and iOS mobile devices on the Nano X. Only when plugged in to get electricity can the Nano S Plus function. It is hence a little lighter in weight.
Pros
- inexpensive replacement for the Ledger Nano X
- control over 5,500+ digital assets
- Priced at less than $80
Cons
- Bluetooth incompatibility
- No battery backup
- Some people may find it difficult to operate a small touch screen.
Arculus Key Card is the best cold storage wallet for mobile devices.
The Arculus Key Card appears as a hard drive storage substitute when you search Amazon for “the finest cold storage wallets.” This svelte metal card, which costs $99 and has the Arculus logo stamped in black, is lauded as the most recent advancement in cold storage technology.
Keys are integrated in the card and safeguarded by three-factor authentication rather than being stored anyplace online. Similar to Ledger hardware wallets, the card uses the best-in-class CC EAL6+ Secure Element Hardware Classification.
The Arculus Key Card communicates with your Android or Apple mobile device via NFC technology rather than a Bluetooth connection or USB-C interface. Additionally, with your Arculus and WalletConnect, you can access blockchain applications.
Arculus is the most efficient and lightest offline crypto storage solution available because it doesn’t need a power source or battery storage. It’s understandable why Amazon reviewers gave the key card 4.5 stars.
It’s important to note that, in contrast to the large number of cryptocurrencies supported by Ledger hardware wallets, Arculus only supports a select few dozen for storing, sending, or receiving, and less than ten for buying and exchanging, including Bitcoin and Ethereum.
Pros
- Sleek and well-organized
- Low price
- Fully offline approach
- No power supply is necessary.
Cons
- operates only with the Arculus Wallet App.
- supports fewer currency than some other choices
Ngrave Zero is the best touch-screen cold wallet.
Some of the finest cold wallets have small touch screens that might be challenging to use, which is one of the main customer concerns. This problem is resolved by the 4 inch, full-color touch screen on the Ngrave Zero as opposed to the 1 or 2 inches provided by other models.
Your fingerprint is used by the Ngrave Zero to establish your key, unlock the device, and sign transactions. Since QR codes are used for every transaction, your wallet never actually connects to the internet.
Though it doesn’t support as many cryptocurrencies as Trezor or Ledger drives, the Ngrave Zero stands out for its cutting-edge security. More than a dozen cryptocurrencies, including Bitcoin and Ethereum, as well as several ERC20 tokens and NFTs are supported by the Ngrave Zero. Its $462 price puts it in a class by itself when it comes to pricing; it is created for experienced crypto traders with big investments to protect.
Pros
- 4-inch full-color, oversized LCD touch screen
- Complete offline functionality using QR codes
- mobile responsive
- biometric safety
Cons
- only accepts a small number of cryptocurrencies
- significantly more pricey than rivals
Trezor Model T is the best for buying and trading cryptocurrency.
Although the Trezor Model T crypto hardware wallet costs $250, its features and high level of security make it an excellent buy.
First, without connecting to a third-party crypto trading app, the Model T enables you to buy, sell, or trade cryptocurrencies directly through the wallet, including Bitcoin. Your investment is always secure and has a 12- to 24-word long recovery seed backing it up offline. You can keep your seed on the metal Cryptotag Zeus seed plate as an alternative.
The Model T features an LCD touch screen for operation and a USB-C connection to your device. For further security, you can choose to utilise your Trezor for two-factor authorisation or to install firmware that supports only Bitcoin.
One flaw is worth pointing out: The Trezor Model T is incompatible with iOS for iPhone users, but you can connect using Firefox and Chrome.
Pros
- There are offline backup solutions.
- enables you to trade cryptocurrencies using your wallet
- supports Firefox, Chrome, Android, Mac OS X, Linux, and Windows (via USB-C)
Cons
- greater cost compared to some options
- Indirect iOS compatibility
Final Word
The safest approach to store your cryptocurrency investment is in a hardware wallet. However, it’s also crucial to keep in mind that investing in cryptocurrencies is very risky, and even if your money is stored securely, you could still lose it if the market declines. Numerous NFTs and cryptocurrencies have varying degrees of stability. Your individual risk tolerance will determine how much you invest in cryptocurrencies and whether you invest at all.
In light of this, if you choose to invest some of your fiat money in cryptocurrencies, you need take precautions to protect your investment by keeping it in one of the finest cold wallets and turning off your internet connection whenever you aren’t transacting.
