Remember this loud and clear:
Your cryptocurrencies are only as safe as your crypto wallet.
Yet, we compromise in getting a cryptocurrency hardware wallet.
But let me still repeat.
We still keep trusting inbuilt online wallets of these exchanges and sometimes over-rely on our mobile or desktop wallets too by storing large amounts of cryptocurrencies on them.
But this can be fatal.
If you don’t choose a reliable hardware wallet for your BTC & best Bitcoin like cryptocurrencies, the day is not very far when you will lose your entire crypto capital like this rich chap who lost $24 million when his mobile wallet as hacked.
Moreover, you should not rely upon any or all cryptocurrency hardware wallets because not all are made the same. Here are some of the criteria through which we like to scan our hardware wallet picks:
- Team: Should have good development & marketing team
- Ease Of Use: Wallet should have easy to use UI & UX.
- Compatibility: Should be compatible & accessible across different operating systems
- Security: Should be uncompromising to the security standards
- Community: Should have an active community of users
Under the light of these criteria, we have the following suggestions for you, if you are looking for a good and robust hardware wallet for your cryptocurrencies like Bitcoin or Ethereum.
|Bitcoin Hardware Wallet Comparison||Our Ratings|
|Ledger Nano X||9.5/10|
|Ledger Nano S||9/10|
|Trezor Model T||8.5/10|
Bitcoin Hardware Wallet Comparison In 2020
Don’t risk your Cryptos! Choose any of these Best Hardware wallets to store your Bitcoin and other cryptocurrencies safely in 2020 and beyond:
#1. Ledger Nano X
Are you looking for more options to be used as the most secure Bitcoin wallet?
We have got you covered with another hardware wallet known as Ledger Nano X. Ledger wallet is the product of Ledger company (a global leader in securing crypto assets) and is based out of Paris, France.
Ledger is innovating its cryptocurrency hardware wallets since 2014 when it launched its first product Ledger Nano wallet. But its 2020, now and they have revamped their hardware wallet to Ledger X.
Ledger Nano X is a state-of-the-art device to secure your cryptocurrencies on a hardware device that looks like a USB drive. Also, in terms of its physical design, Ledger X has two side buttons and an OLED screen to control your device.
You can easily manage your transactions from your smartphone or computer with their Ledger Live app that is available for both mobile and desktop devices.
It gets better:
Your this hardware wallet is Bluetooth enabled and allows end-to-end encryption for extra security while you transact through your mobile or desktop.
Though some think that Bluetooth is not the best feature to have for the security of funds, I see no problem in using it, if use it safely. If you want a non-Bluetooth version of the same Nano S might provide a rescue for you.
Lastly, backing-up your 12 or 24-word recovery seed is quite easy using the Ledger Nano X device and must be done at the time of device initialization itself.
This seed is capable of producing a private key, for each of the public addresses for all the stored currencies since Nano X is also an HD wallet.
I have been using this wallet for some time and I can say, it is one of the most intuitive hardware wallets to use which offers the necessary security which you wouldn’t on centralized exchanges or software wallets where you currently keep your coins.
PS: Always buy Ledger Nano X from this official website, purchases made through other sources such as Amazon have been reported faulty resulting in compromising of users’ funds.
#2. Ledger Nano S
Which is the most popular Bitcoin wallet in the market?
It certainly has to be Ledger Nano S hardware wallet.
Ledger Nano S is the product of the same company which has launched Ledger Nano X. Of course, the company is innovating since 2014 and is experienced in making crypto hardware wallets.
Ledger Nano S the precursor of Ledger Nano X device but at its peak, it was the most sold cryptocurrency hardware wallet in the industry.
As of now, millions of customers used Ledger Nano S because it provides unmatched security in comparison to any other mode of storage. (Read our detailed comparison of Ledger Nano X vs Ledger Nano S)
Even I have been using Ledger Nano S and Trezor Model T for almost a year now and can comfortably say that these devices compete for almost neck to neck in terms of performance.
However, the price tag on Ledger Nano S a bit lower as of now, so if you are someone who wants to invest less than $100 on a cryptocurrency hardware wallet, you should look no further than Ledger Nano S.
You get all the necessary features like back-up of recover seed, PIN code, two side buttons, OLED screen, a desktop & mobile app, etc. to manage your cryptocurrencies safely.
Plus Nano S is also capable of storing and managing 1000+ crypto coins and tokens but you cannot use all the currencies at the same time through Ledger Live whereas Ledger X provides more flexibility. So, if you want to use more currencies that too all at the same time, you need to check out Ledger X hardware wallets.
Lastly, whenever you talk about the best hardware wallets in the budget, you cannot afford to miss Nano S because this is the wallet that brought hardware wallets to the mainstream. It is easily the best Bitcoin wallet to store the private key of all the public addresses in one shot.
PS: Always buy Ledger Nano S from this official website, purchases made through other sources such as Amazon have been reported faulty resulting in compromising of user’s funds.
#3. Trezor Model T
Trezor Bitcoin wallet is the safest Bitcoin wallet you will yet find in the market.
It is developed by SatoshiLabs, a Czech Republic-based company that pioneered the ear of Bitcoin hardware wallet. SatoshiLabs started making some of the best hardware wallets for Bitcoin and other cryptocurrencies in 2013, and since then it is continuing its innovation.
In line with that, Trezor Model T is the next-generation cryptocurrency and Bitcoin hardware wallet designed carefully to act as a digital safe for your digital assets.
While using Trezor Model T, your private key is never leaving your device, and you can access an interactive desktop UI to take full control of your cryptocurrencies.
Taking back-up of your private keys with Trezor Model T is even easier as you just need to back-up your 12 or 18-word recovery seed. Also, you can set a mnemonic passphrase on your Trezor Model T to put an extra layer of security for your funds.
Trezor Model T has only one chip or one micro-controller for generating and storing the private keys. This chip is thoroughly peer-reviewed and in general, considered safer than secure element chips which are closed-source, not heavily peer-reviewed.
Lastly, Trezor Model T as of now supports more than 1000+ cryptocurrencies and ERC20 tokens including Bitcoin and is a lightweight USB like device used by millions of cryptocurrency HODLers who are serious about the security of their cryptocurrencies.
PS: Always buy Trezor Model T from this official website, purchases made through other sources such as Amazon have been reported faulty resulting in compromising of users’ funds.
#4. CoolWallet S
CoolWallet S is the easiest to use cryptocurrency hardware wallet available in the market and is aptly dubbed as ‘crypto on-the-go’ wallet.
CoolWallet S is a credit-card sized hardware wallet for your Bitcoin, Ethereum, Litecoin, XRP, Bitcoin Cash, and ERC20 Tokens, etc.
By not being like other Bitcoin hardware wallets, which are usually USB type devices, CoolWallet S opens up the opportunity to integrate with mobile devices directly.
This hardware wallet easily pairs with your mobile’s CoolWallet app to provide you the seamless experience of using your cryptocurrencies on mobile without compromising the security of your private keys.
Also, like other hardware wallets, CoolWallet S allows you to back-up your recovery seed and is a trustable product by more than 150,000 customers around the globe.
Lastly, it is a chargeable device with a contact charging feature that takes 2 hours untill fully charged. This makes it the most advanced as well as the coolest hardware wallet available right now in the market and even Bobby Lee- a crypto pioneer also seconds with this:
— Master⚡️250k/6.25k BTC/LTC 2021 (@MASTERBTCLTC) December 4, 2018
#5. Trezor One (Trezor hardware wallet)
Trezor One is the first flagship product of the SatoshisLab company which pioneered the era of hardware wallets. This wallet is also popularly known as the Trezor hardware wallet.
Of course, being the precursor of Trezor Model T has fewer features, but it is still usable and provides decent security to your cryptoassets.
Nevertheless, it is any day better than any mobile or exchange inbuilt wallet that you might be using now. So, if you are someone who is low in your budget as of now and still wants to secure their cryptocurrencies like BTC, ETH, LTC, etc., you should definitely buy this Trezor wallet.
Like other wallets, Trezor One allows you to back-up your recover seed words and always remain in control of your private keys.
This Trezor is a USB 2.0 device compatible with Windows, Linux, and macOS (10.8 or higher) and protects you keyloggers like attack vectors.
PS: Always buy Trezor One from this official website, purchases made through other sources such as Amazon have been reported faulty resulting in compromising of user’s funds.
Which Are Best Hardware Wallets For Bitcoin & Altcoins?
I know some of you might be still confused, which cryptocurrency hardware wallet to choose. But you shouldn’t be because we haven’t listed a long list of wallets like other sites to confuse you deliberately.
All the six wallets that we have listed are the best in the business, and we are using five wallets out of these six wallets, but if you want single recommendations from us, you should look no further than Ledger Nano X or Ledger Nano S.
We even suggest you have both these wallets to diversify in terms of the security of your funds. In the future, these two wallets might be interoperable in some way, who knows !!
Some frequently asked questions regarding hardware wallets…
Which is the best hardware wallet for cryptocurrencies?
It is a difficult thing to answer but according to me, Ledger Nano X & Ledger Nano S are the best hardware wallet for cryptocurrencies and perfect for anyone who wants mobile and easy to carry hardware wallets.
I will rate Trezor wallet too in there because they are open source and much more peer-reviewed than another Bitcoin hardware device.
So you should atleast have one of these hardware wallets if you have even an iota of belief in the potential of cryptocurrencies because no one knows which cryptocurrency becomes the next one to massively appreciate.
Plus 1000+ of supported coins and tokens can be stored and managed through a single hardware device, then why not invest in them for safeguarding your total crypto portfolio.
What is the best and safest Bitcoin wallet?
If you just wish to store Bitcoin then the best hardware wallet for Bitcoin is undoubtedly Ledger Nano Xand Trezor wallet. You can pick any of these as both are cost-effective and will give you sufficient peace of mind for the security of your coins as they are the best cold storage options available in the market.
This way the private key of your bitcoins and other cryptocurrencies are always offline in a secure device which is almost impossible to tamper with unless you do something terribly wrong.
If you ask me, I am using three hardware wallets i.e. Nano X, Nano S, and Model T. Three wallets because I don’t trust wany of the software wallets and want to diversify my crypto coins even at the wallet level.
Which is the best cryptocurrency hardware wallet for ripple?
Ledger Nano X is the best cryptocurrency hardware wallet for ripple as they were the first wallet to sort out the Ripple’s tag issue while sending and receiving Ripple coins.
This by no means an easy task, plus Ledger Nano X has the best Bitcoin support as well as the support for 1000+ other supported coins. With Nano X you also get the Bluetooth feature which makes it easy to use wirelessly on mobile devices too
How does a hardware Wallet work?
Ledger SAS which is a pioneering company in making some of the best hardware wallets solutions for the security of crypto coins uses a dual chip architecture in one single device i.e. both Ledger X and Ledger S. You have a general-purpose MCU and another a secure element MCU (SE MCU).
The secure element is mainly responsible for the security of your seed/private keys, and the other MCU serves as an abstraction layer to facilitate communication between the SE and the user’s smartphone/desktop.
Inside these MCUs is the BOLOS operating system, which is a proprietary system of Ledger SAS, and this part is not thoroughly peer-reviewed because it isn’t open source.
But with these limitations also Ledger hardware wallets cannot be hacked easily unless someone has physical access to your device and knows your PIN code. Otherwise, it isn’t possible to hack.
On the other hand:
Trezor Model T & Trezor One has only one chip or one micro-controller for generating and storing the private keys on their hardware wallets.
Is A Hardware Wallet Necessary?
As nothing is mandatory in life if you choose to see it that way, similarly, if you aren’t holding a significant amount of cryptocurrencies or if you are not serious about the security of your crypto coins, then probably hardware wallets are not for you.
If you hold small amounts of currencies for experimental purposes and don’t believe they will appreciate in value, you are better off with software wallets.
But some of the best Bitcoin wallets are hardware wallets, so if you are a long term player, we recommend you to get atleast one of the above-listed hardware wallets.
Conclusion: Best Crypto Hardware Wallet
So that’s all from us in this detailed guide on best cryptocurrency hardware wallets that you can use to store your Bitcoin and altcoins.
Lastly, I would like to say that, don’t be frugal.
You have come a long way. You have learned about Bitcoin and cryptocurrencies. You have done your research and then invested in these currencies that too a decent amount.
Then why now compromise on keeping them as securely as possible. If you lose your coins, what will be the point of having done all the learning and search of investing in them in the first place?
Think about this.
Get yourself the best Bitcoin hardware wallet, if you hold BTC and if you hold other currencies too, you MUST get the best hardware wallet no matter what by spending a couple of bucks more
Now you tell us: Which wallet do you think is the best? Are you using any of these wallets? Which wallet do you plan to buy to safeguard your cryptocurrencies?
Tell us in the comments below and don’t hesitate to question, we are waiting to hear from you 🙂
- Bitcoin Hardware Wallet Comparison In 2020
- #1. Ledger Nano X
- #2. Ledger Nano S
- #3. Trezor Model T
- #4. CoolWallet S
- #5. Trezor One (Trezor hardware wallet)
- Which Are Best Hardware Wallets For Bitcoin & Altcoins?
- Which is the best hardware wallet for cryptocurrencies?
- What is the best and safest Bitcoin wallet?
- Which is the best cryptocurrency hardware wallet for ripple?
- How does a hardware Wallet work?
- Is A Hardware Wallet Necessary?
- Conclusion: Best Crypto Hardware Wallet