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5 Best Hardware Wallet 2021 | Top Crypto Hardware Wallets

CryptoWhale
CryptoWhale
One of the main points of Bitcoin, and crypto as a whole, is to provide users with full control over their money. With the rise of centralized crypto exchanges, lending platforms, and centralized online wallets, many aren’t aware of the significant risks of not having control over their funds.
Having your coins on an exchange is not safe. These unregulated, and dangerous crypto exchanges can disappear at any moment with everyone’s funds, and most of the time there is little that can be done to retrieve it.
Mt. Gox is a prime example, this used to be the largest Bitcoin exchange in the world before they faked a massive hack, and stole billions worth of cryptocurrencies. To date, few have been able to retrieve their Bitcoin. Binance is now the largest Bitcoin exchange in the world, and many are speculating a similar fate as they are also riddled with deception and fraud.
My mission has always been to help others fully understand cryptocurrencies, and keep their coins safe. This industry is still relatively new, and many investors often fall for traps that can end with large losses. This article will dive into several different hardware wallets that are highly ranked and can help you safely store your cryptocurrencies.
What are Hardware Wallets?
Hardware wallets are portable devices that provide users with full security, and unwavering access to their funds. In a truly decentralized world, the banks, and crypto exchanges will NOT have control of your funds.
Think of hardware wallets as mini-computers that have been stripped down of all logic except for a tiny screen, a button or two, and the simple action of storing private keys and signing transactions.
They often look like small USB devices, and they offer a minimalist approach to securing your digital assets. This is based on the logic that the more complex a device is, the more opportunities hackers have to infiltrate it.
#1 Trezor Hardware Wallet
The Trezor Model T is the latest product developed by Satoshi Labs which was the first hardware wallet provider of note in the world. I’ve been using this wallet for several months, and am very pleased with its functionality.
The Model T is different from other wallets in that it features a touchscreen interface. The wallet allows you to store countless cryptocurrencies including Bitcoin, Ripple, Litecoin, ChainLink, Bitcoin Cash, Ethereum, Cardano, Stellar, Dogecoin, EOS, and hundreds more!
Pros: Unlimited wallet storage, Touch-screen interface, 1,600+ cryptocurrencies, Allows conversion to fiat currency. In the wallet, exchanges have many functionalities including atomic swap and fiat exchange.
Cons: Expensive. The Model T is an upgrade in user interface but not much else from the Trezor One. It is almost 3 times as expensive as the less feature-rich but equally functional competitors.
If you’re interested in this device, click here.
#2 NGRAVE Hardware Wallet
NGRAVE’s product suite is built in close collaboration with the world-leading institution in nanotechnology, Interuniversity Microelectronics Centre (IMEC), along with the research group for applied cryptography, The Computer Security and Industrial Cryptography (COSIC), and many other top tier partners.
NGRAVE ZERO is another product they have that is a completely offline and physically tamper-proof hardware wallet. Thus, eliminating any sort of remote attack vectors. It was designed and developed from scratch with security as its core purpose and is manufactured in Belgium, Europe.
Pros: NGRAVE exemplifies end-to-end product thinking. Unique “cold” design means it cannot be compromised digitally and that you never have to worry if your hardware wallet’s software is okay. Great for people who want complete peace of mind about their crypto funds and especially for those that travel often with their devices. Includes stainless sheets right out of the box to simplify the proper storage of your seed phrase.
Cons: This is a new company with its first major product. With IMEC behind them, you can expect great security, however, community support may take some time to catch up.
If you’re interested in this device, click here.
#3 Ledger Hardware Wallet
The Ledger Nano X is one of the most popular crypto hardware wallets.
This France-based company has designed a device that mirrors a typical USB thumb drive that can connect to any device or computer with USB or Bluetooth.
Pros: Great company reputation, 1500+ crypto assets supported, mobile compatibility (Nano X only), There is a lot of community support in the form of software integration that uses ledger to directly transact. These include many new decentralized exchanges. The device is constantly updated with new software.
Cons: Interference layout makes it so that set up or rebooting your wallet takes a considerable amount of time. The added mobile support is great but its main improvement, Bluetooth functionality, is far from being smooth.
One thing to remember with Ledger, is they are targetted by lots of phishing scammers. If you get a Ledger, be sure to verify you’re not getting emails from a phising scam. Read more about that here.
If you’re interested in this device, click here.
#4 BitBox02 Hardware Wallet
The BitBox02 is a great tool for individuals to easily store, protect, and transact cryptocurrencies. Its companion, the BitBoxApp, provides an all-in-one solution to securely manage your digital assets with ease.
The BitBox02 is developed and manufactured in Switzerland. It is equipped with an OLED display, invisible touch sensors, USB-C and USB-A support, offline backups to both microSD card and BIP39 mnemonic. Setting up a BitBox02 wallet and managing your coins is made easy via the companion BitBoxApp.
The secure dual-chip architecture is a unique feature that addresses issues regarding transparency and physical protection of other hardware wallets. The BitBox02 uses a secure chip for physical device hardening in combination with fully open-source firmware, which neither Ledger (closed-source firmware) nor Trezor (no secure chip) can provide. Shift Crypto also has a transparent threat model that explains what attacks their products protect against, and which are considered out of scope.
Pros: A Reputed firm Shift CryptoSecurity has developed the wallets, Wallet is very easy to setup, user-friendly interface, various security measures, they offer Universal Two Factor (U2F) support, and Robust backup options are also available.
Cons: Limited cryptocurrencies are supported and the screen size is small.
If you’re interested in this device, click here.
#5 KeepKey Hardware Wallet
KeepKey is a hardware wallet that makes bitcoin security simple. When you entrust KeepKey with your money, every bitcoin transaction you make must be reviewed and approved via its OLED display and confirmation button.
This hardware wallet is from Swiss crypto exchange ShapeShift. It stands out among the hardware wallet because, in addition to security, it also attaches great importance to the design.
Pros: An upgrade to the Ledger in appearance. Easy to read and use compared to its competitor Ledger Nano X. Syncs with the Shapeshift wallet, giving you options for exchange right out of the box.
Cons: When comparing it to its competitors TREZOR and Ledger, it still lacks community support. Moreover, users must add software such as Electrum or MultiBit to make use of Keepkey applications. Usable only when it is connected via a USB cable that’s plugged into an internet-connected device.
If you’re interested in this device, click here.
Hardware Wallets are Essential
While some hardware wallets are on the pricey side, they are definitely a worthwhile investment for anyone planning to stay in the crypto space for a long period of time or who has substantial funds.
The amount you’ll spend on a cold storage device is essentially a one-time payment for unlimited insurance. For that reason, I think they are definitely something to consider purchasing.
Thanks for reading! Have a wonderful week.
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