The 5 Best Hardware Wallets

What is a hardware wallet?
A hardware wallet is a special type of bitcoin wallet which stores the user's private keys in a secure hardware device.

They have major advantages over standard software wallets:

1. Private keys are often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext
2. Immune to computer viruses that steal from software wallets
3. can be used securely and interactively, private keys never need to touch potentially-vulnerable software
much of the time, the software is open source, allowing a user to validate the entire operation of the device
This page is an attempt to summarize all the known developments of hardware wallets that can use Bitcoin as part of their operation.

Now, let us find out the best Bitcoin hardware wallets to look forward in 2019

#1 Ledger Nano S (Hardware wallet Ledger)
The Ledger Nano S, from a France-based start-up company, is battery-less and easy-to-connect USB like device which can be connected to any mobile devices or personal computer through USB. The device features two buttons on its side to help navigate the interface. The backup seed key and the OLED interface allow for easier recovery of Bitcoins. It supports around 40 cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, Dash, etc. This is regarded as one of the best bitcoin hardware wallets as per hardware wallets review.

Pros: Allows storage of the world’s leading digital currencies. Integrates with a multitude of software wallets.

Cons: The price is relatively high as compared to the other hardware wallets.

#2 Trezor Hardware Wallet
Trezor, developed by Satoshi Labs, is among the first best hardware wallets to enter the market. The hardware wallet creates keys offline and offers numerous basic features, which are necessary for the Bitcoin trade. Trezor supports around 20 cryptocurrencies, which include Bitcoin, Namecoin, Dash, Dogecoin, and Ethereum, and is even considered as one of the best hardware wallets for altcoins.

Pros: Supports many other currencies other than Bitcoin and can convert transaction amounts to and from fiat currency. Trezor beta app supports in-wallet exchange from CoinSwitch. In-wallet exchange provides risk-free conversion of cryptos.

Cons: It has a complicated PIN which takes time to set up the plug-in.

#3 KeepKey Hardware Wallet

KeepKey is a high definition best bitcoin hardware wallet that allows backing up of a Bitcoin wallet using the 12 words brought forth during the setup process. Even though the hardware wallet supports seed lengths between 18 and 24 words, the 12 words represent the default setting.

The seed is brought forth using entropy from the KeepKey Hardware Wallet and the personal computer used during the setup. KeepKey generates the seed offline and displays it on its screen. The offline screen prevents the display of the seed on internet-connected devices.

And if you lost the backup seed, you can use the backup seed to recover your Bitcoin wallet. You can use KeepKey’s Chrome extension to recover the wallet. Keeping multiple backups and following other best practices is also important.

Pros: More secure and feature-packed hardware wallet for your crypto coins available. Metal body and digital screen to keep your coins safe

Cons: A lack of web wallet means users must add software such as Electrum or MultiBit to make use of its applications.

#4 Opendime

It is the world’s first Bitcoin stick wallet which is a small USB like object that allows you to spend Bitcoin like a dollar bill and acts like a read-only USB flash drive. Opendime, created by a company named Coinkite, is compatible on any computer, laptop, and phone. A QR Image and Text files inside contain Bitcoin address and helpful information. That makes it one of the best Bitcoin hardware Wallets as per the hardware wallets comparison.

Pros: It is comparatively cheap and very easy to use bearing all the security features. It also has an easy verification chrome feature. It removes problems like transaction times and miner fees while still depending on cryptographic security and other bitcoin advantages.

Cons: As it is based on the concept of ‘piggy-banks’, you have to destroy the wallet to spend the funds accumulated within the device. Once the wallet is unsealed, it basically becomes a ‘waste’ because you need to dispose of the USB. This certainly isn’t environmentally friendly.

#5. Archos Hardware Wallets

Archos  is a French multinational electronics company that was established in 1988 by Henri Crohas. Archos manufactures tablets, smartphones, portable media players and portable data storage devices. It recently got into the field of hardware wallets and has introduced the safe hardware wallet.

Extremely affordable
Easy setup

Basic coin support
New player in the field of cryptocurrency

Frequently Asked Questions (FAQ)

1. What coins does Trezor support?

Trezor supports more than 1000 cryptocurrencies including Bitcoin.

2. What is Ledger Nano cryptocurrency wallet?

Ledger Nano is one of the best cryptocurrency hardware wallets and supports many tokens.

3. What coins does Ledger Nano S support?

Ledger Nano S supports multiple currencies like Bitcoin, Ethereum, Dogecoin, Litecoin and many more.

4. Is Trezor wallet safe?

Trezor wallet is one of the reputed hardware wallets for multiple cryptocurrencies, hence considered safe.

5. Which hardware wallet is the best?

All of the above-mentioned wallets are good, but mostly Ledger and Trezor are more often mentioned on a regular basis.

6. How does hardware wallet work?

Hardware wallets act like USB devices, which when connected to the computer can be accessed easily.

7. Is hardware wallet cold storage?