Which Cryptocurrency Hardware Wallet is Best for You?
The number of hardware wallets has proliferated with the number of cryptocurrencies in recent years. Today, consumers enjoy an unprecedented choice of hardware devices on which to store their bitcoin and altcoins, though market-leaders Ledger and Trezor still dominate. For anyone agonizing over the best device for their needs, the following models are worthy of consideration.
Best Portable Wallet: Coolwallet S
While all of the devices featured here are small enough to be portable, only the Coolwallet S is small enough to slip into your wallet alongside your credit cards. A marvel of engineering, its wafer-thin design and e-paper display enables you to check your balance and send and receive BTC, BCH, ETH, LTC, and XRP on the go. The device connects to the Coolbitx mobile app via Bluetooth, obviating the need for a desktop computer altogether. Its slender profile and mobile-friendliness make the Coolwallet S the best of the major hardware devices for choosing and using in everyday life.
Best Multi-Currency Wallet: Ledger Nano S
No other hardware wallet can match Ledger’s trusty Nano S for multi-currency compatibility. The French manufacturer is constantly adding new coins, with the latest additions now earmarked for release on the first Tuesday of every month. The inaugural edition of #FirstTuesdayCrypto saw PoA, Icon, Vechain, Wanchain, Ontology, Kowala, Particl and RSK added. In addition to supporting ERC20 tokens, Ledger’s Nano S has support for an ever-growing list of cryptocurrencies. If you carry a diverse portfolio of coins and desire the convenience of storing them on one device, the Nano S is your best bet. Despite some grumbles with its Chrome software and Ledger Live desktop software, the Nano S remains a highly regarded device.
Best No-Nonsense Wallet: Keepkey
Keepkey’s hardware wallet is no nonsense in that it works straight out the box, and is robust enough to handle most things life may throw at it. Its angular design makes it less pleasing to behold than the Coolwallet, and its basic features mean it’s less elaborate than the Ledger Nano S. There’s strength in simplicity though, and while the Nano S is prone to connectivity issues, depending on the desktop device and wallet you’re using, the Keepkey gets the job done at the first time of asking, storing your BTC, BCH, ETH, LTC, DOGE, DASH (also read DashCoin wallets review), and ERC20 tokens. It’s also got integration with Shapeshift, its parent company.
Best High-Security Wallet: Trezor Model T
All of the hardware wallets featured here are highly secure and, if used correctly, should be safe from common attack vectors. It is hard to say categorically, therefore, that one particular device is more secure than another. What can be stated with confidence, however, is that Trezor’s new Model T comes bearing an impressive range of security features including a write protected bootloader that verifies the firmware signature and BIP39 passphrase support. For the ultra cautious, Trezor’s Model T is a very safe bet.
Whatever hardware device you choose, remember that it’s only as secure as you make it. This includes keeping your recovery seed in a very safe place with an additional copy stored elsewhere for redundancy. While Ledger, Trezor, Keepkey, and Coolwallet aren’t the only options, their flagship models cover most bases and set standards for other manufacturers to meet.
What’s your favorite hardware wallet and why? Let us know in the comments section below.