A crypto hardware wallet makes it simple to safely store your cryptocurrency. Sometimes dubbed “cold storage,” since your hardware wallet is not stored on any network, a hardware crypto wallet is almost unhackable, offering you the best piece of mind regarding your crypto investment. Continue reading to learn about some of the best hardware wallets and safety concerns to consider when selecting the best solution for you.
Are Crypto Hardware Wallets Secure?
The majority of hardware wallets look like USB flash drives or external hard discs. They are not connected to the internet unless you connect them to a computer that is connected to the internet in order to transfer funds into or out of your wallet. Hackers cannot access your cryptocurrency investment remotely online as long as you remember to disconnect the wallet when you’re finished.
Some crypto hardware wallets are completely disconnected from the internet. Instead, you access your investments using QR codes or the device’s touch screen.
Of course, there is still the possibility of losing or having your crypto wallet stolen, so keep it in a secure location at all times.
To provide you the peace of mind you require, you’ll want a wallet that:
- Will not break or wear out with the passage of time
- Has a dependable and secure backup system
- Is resistant to fires, floods, and shock damage, allowing you to access your investment at all times.
Which Crypto Hardware Wallets Are the Best?
Here’s a look at the features supplied by five of the greatest solutions to help you choose the best crypto hardware wallet for your needs.
The Ledger Nano X is the best overall cryptocurrency wallet.
Ledger describes the Nano X crypto hardware wallet as “the finest method to securely buy, manage, and grow all your digital assets” on its Amazon product page.
Is the cold wallet worth the hype? The Nano X, which costs $149, is not the cheapest hardware wallet, but it is also not the most costly. (Continue reading to find out which cold wallet receives this accolade.)
The Nano X connects to any smartphone using Bluetooth technology and is as compact and portable as a USB flash drive. The Nano X allows you to manage up to 100 different types of cryptocurrency at the same time. It is compatible with over 5,500 different coins and tokens.
If Ledger Live does not support your favourite coins or NFTs, you can invest and trade using a permitted third-party wallet. These features make Ledger Nano X the ultimate crypto wallet for novices and seasoned investors alike.
Pros
- Reasonably priced
- 5500+ coins and tokens are supported.
- Size is small.
- iPhone and Android are supported.
Cons
- Touch screen is smaller than that of certain wallets.
- The wallet cannot be used to purchase cryptocurrency in USD.
The Ledger Nano S Plus is the best low-cost cryptocurrency wallet.
If you’re looking for a high-quality, secure, streamlined, and simple-to-use crypto wallet under $100, GOBankingRates recommends the Ledger Nano S Plus. That’s because the Nano S Plus offers many of the same features as its bigger sibling, the Nano X, such as USB drive design and a 4.5-star Amazon rating, but only $79.
Like the Nano X, you may install over 100 apps at once and manage over 5,500 digital assets. Both drives employ sophisticated security and have been independently validated by ANSSI. The key difference is that the Nano X has more storage space, a longer battery life in standby mode, and is Bluetooth compatible with both Android and iOS mobile devices. The Nano S Plus can only function when it is plugged in and receiving electricity. Because of this, it is also slightly lighter in weight.
Pros
- Affordable alternative to Ledger Nano X
- Manage more than 5,500 digital assets
- Priced at less than $80
Cons
- Bluetooth incompatibility
- There is no battery storage.
- Some people may find it difficult to operate a small touch screen.
Arculus Key Card is the best mobile-compatible cold storage wallet.
When you search Amazon for “the finest cold storage wallets,” the Arculus Key Card appears as a hard drive storage alternative. This elegant metal card, which retails for $99 and contains the Arculus logo embossed in black, is regarded as the next step in cold storage technology.
Keys are not saved anywhere online, but are instead encoded in the card and secured by three-factor verification. The card also employs the same industry-leading CC EAL6+ Secure Element Hardware Classification as Ledger hardware wallets.
Rather than a Bluetooth connection or a USB-C interface, the Arculus Key Card communicates with your Android or Apple mobile device via NFC technology. You may also use your Arculus to access blockchain apps via WalletConnect.
Arculus requires no power source or battery storage, making it the most streamlined and lightweight offline crypto storage option available. It’s no surprise that Amazon reviewers gave the key card 4.5 stars.
However, it’s worth noting that Arculus only allows a few dozen cryptocurrencies to store, transfer, or receive, and less than ten to buy and swap, compared to the enormous array offered by Ledger hardware wallets.
Pros
- Elegant and streamlined
- Low price
- Solution that is entirely offline
- No external power supply is required.
Cons
- To function, the Arculus Wallet App is required.
- Supports a smaller amount of cryptocurrencies than some other alternatives.
Ngrave Zero is the best touch-screen cold wallet.
One of the most common customer concerns regarding the finest cold wallets is that their little touch screen is difficult to use. The Ngrave Zero addresses this issue with a big, full-color touch screen that is 4 inches in length, as opposed to the 1 or 2 inches supplied by other models.
To establish your key, open the device, and sign transactions, the Ngrave Zero also employs biometric security via your fingerprint. Because all transactions are performed by QR codes, your wallet never connects to the internet.
The Ngrave Zero may not support as many cryptocurrencies as Trezor or Ledger drives, but its revolutionary security distinguishes it. The Ngrave Zero accepts around a dozen cryptos, including Bitcoin and Ethereum, as well as other ERC20 tokens and NFTs. It costs $462 and is designed for skilled crypto traders with huge stakes to protect, putting it in a class by itself in terms of pricing.
Pros
- 4-inch full-color LCD touch screen that is extra-large.
- QR codes allow for complete offline functionality.
- Mobile friendly
- Biometric security
Cons
- Only a few types of cryptocurrencies are supported.
- Significantly more pricey than competition
Trezor Model T is the best cryptocurrency trading and purchasing device.
The Trezor Model T crypto hardware wallet costs $255 but is well worth the price due to its capabilities and improved security.
First, the Model T wallet allows you to buy, sell, or trade cryptocurrency, including Bitcoin, without having to connect to a third-party crypto trading software. Your money is always safe since it is backed up offline by a 12- to 24-word recovery seed. You can also use the Cryptotag Zeus metal seed plate to store your seed.
The Model T connects to your device through USB-C and is controlled by an LCD touch panel. For increased security, you can install Bitcoin-only firmware or utilise your Trezor for two-factor authentication.
There is one drawback to be aware of: the Trezor Model T is not compatible with iOS for iPhone users, but it may be connected via the Firefox and Chrome browsers.
Pros
- There are choices for offline backup.
- Allows you to trade cryptocurrency through your wallet.
- Windows, macOS, Linux, Firefox, Chrome, and Android are all supported (via USB-C)
Cons
- pricier than some alternatives
- iOS is not directly compatible.
Last Words
A hardware wallet is the safest way to store your cryptocurrency investment. However, it is crucial to realise that investing in cryptocurrencies is very speculative, and even if your investment is safely stored, you may lose money due to market downturns. The stability of different NFTs and cryptocurrencies varies greatly. Your personal risk tolerance will determine how much you invest in cryptocurrency, if you invest at all.
With that in mind, if you decide to invest part of your fiat money in cryptocurrencies, make sure to secure your investment by putting it in one of the best cold wallets available and disconnecting that device from the internet while not in use.
