Hardware Wallets are one of the most secure ways to store your cryptocurrencies of all the different wallet types. There are a few different hardware wallets that I can recommend. Some are better than others and have better features making them a better purchase for the long run. If you are serious about cryptocurrencies, a hardware wallet is a must and well worth the investment.
Always ensure you buy from a reputable source, never from an unauthorized dealer!!! I highly recommend you buy from their manufacture websites, buying third party you are taking a huge risk.
The links I have below for Ledger Nano S and TREZOR are to their websites.
Currently out of stock, taking pre-orders for March 6th. Normal Price is about $99. Order now so you don’t miss out on this round coming up.
The Ledger Nano S is a great hardware wallet. It has one of the best and most important features, a built-in screen. This may seem trivial, but it allows you to check your balance and confirm transactions, without having to plug it into a computer or use a mobile application. This goes a long way for convenience, ease of use, and security. All your initial setup and configuration is all done in the Ledger Nano S so it’s totally secure and never exposes your keys to the outside world via internet. There are applications for management, but with the screen you will likely not use them much. Your wallet is also protected with 2FA which means you must have a secondary log in to unlock the hardware wallet, this is done via a four-digit pin code that you can enter on the screen.
In stock in black or white- $110
The TREZOR is the OG of cryptocurrency hardware wallets. It was the original hardware wallet available for cryptocurrencies. The founder Marek Palatinus is the same guy who created the first Bitcoin mining pool, called Slush back in 2010, so the company has great ownership and support as well as a long-standing reputation. Like the Ledger Nano S, the TREZOR has a small screen where you can input your pin to unlock it. The TREZOR is totally offline and to transfer coins you must connect to the computer. The connection is only one way so you can plug it into a hacked computer and it won’t matter, meaning you can send your coins anywhere with a computer and internet. The cost and the computer aspect make me place it a little lower than Ledger Nano S right now.
There are a few other hardware wallets out there, Keepkey being one that is gaining popularity. The only benefit it has over Ledger and TREZOR is the fact it accepts a larger variety of coins. Otherwise it’s similar, it is about twice the size of the TREZOR and Ledger hardware wallets but the company is new and the reason I don’t like here is twofold, 1. I don’t own one, 2. They have a lot of bad reviews and negative security feedback from their customers. This just doesn’t sit well with me, so I can’t say I recommend it fully.
Other than these three, I would strongly advise staying away from any other hardware wallet. These are the best ones currently available, the others have had issues in the past and are not even worth mentioning.
The conclusion to this article is simple. If you are at all serious about cryptocurrencies, you should already have a hardware wallet. They cost money, but if you are investing in cryptocurrencies and have enough assets to warrant the purchase (I recommend at least $200 in crypto), then I highly recommend buying a hardware wallet as soon as possible. I use my Ledger Nano S for daily cold storage, and I use my TREZOR for more long-term storage that I don’t really touch very often. You don’t need multiples. I had the TREZOR before the Ledger Nano S was available and I liked the Ledger, so I bought it.
Always be proactive rather than reactive. Don’t think it will never happen to you and you are good with your desktop wallet or mobile wallet, because the day you log in and your wallet is empty will be the day you kick yourself for not getting a hardware wallet. It happens WAY more than you think especially with online desktop wallets, online wallets, and mobile wallets.