22
Nov
19

Top 5 Cryptocurrency Hardware Wallets – For Beginners

 

If you feel like you could use a little bit more security when it comes to keeping your cryptocurrencies safe, then a hardware wallet could be exactly what you’re looking for.

 

Hardware wallets are by far the most secure way of storing your digital currencies due to the ability to store your finances offline via a PIN-enabled device. Doing this can help to keep your money away from hackers and prying eyes online – you’ll only need to worry about storing your physical wallet in a safe space in a secure location.

 

Sadly, investing in a secure physical wallet can prove to be costly business. So let’s take a look at the very best cryptocurrency hardware wallets available and weigh up their individual merits for potential buyers.

 

Ledger Nano X

 
This image depicts the cryptocurrency hardware wallet Ledger Nano X in a marketing image - It is the number 1 cold storage device
 

Ledger happens to be one of the biggest names in the world of hardware-based crypto wallets, and the Nano X represents a solid tool for keeping digital finance safe while on-the-go. Built to carry the appearance of a simple old-fashioned USB stick, the Nano X is fairly unassuming and highly portable.

 

The Nano X series carries industry-leading levels of security under its bonnet with the help of two chips. The gadget is also Bluetooth enabled, meaning that users can interact with their wallets wirelessly wherever they are – provided they have a compatible laptop or smartphone.

 

The jewel in the crown for the Ledger Nano X, however, is its ability to hold multiple types of cryptocurrency at the same time through the installation of various wallet apps that are capable of interacting with the device.

 

The Ledger Nano X is currently retailing for around $120.

 

Trezor

 
This image depicts the Trezor Model T plugged into a computer. It is a safe cold storage for digirtal crypto assets.
 

Trezor is a hardware wallet that’s geared primarily towards the storage of Bitcoin. Created by SatoshiLabs, Trezor stands as the world’s first secure hardware-based wallet for cryptocurrencies.

 

Just because it’s the oldest of its kind, it doesn’t mean that the Trezor Wallet has lost any ground to newer competitors, either. Taking the form of some kind of mini calculator with a bright OLED screen, nine-digit PINs and 24-word recovery seed keys keep finances safe within the wallet even if the hardware is lost or damaged in any way. Trezor’s primary function is to store private keys and sign transactions online.

 

The Trezor Wallet can also be used in conjunction with Android apps such as Trezor Wallet, Mycelium and Multibit HD.

 

Trezor Hardware Wallets are a little bit cheaper than many competitors and can be bought online for as little as $45.

 

KeepKey

 
This image depicts the cryptocurrency hardware wallet keep key in use. Store crypto assets safely
 

KeepKey is another piece of hardware that specialises in the storage of Bitcoins. However, the KeepKey wallet extends far beyond the reaches of the world’s most popular currency – offering up support for a further five forms of digital finance.

 

This hardware wallet is pretty big, so much so that it’s a little impractical to carry around, but because of this, the device can be found for a competitive price of $50 online.

 

The KeepKey offers backup seed key features with the use of PIN codes for extra security, and is a great option if you’re looking for a cheap form of currency storage that won’t be leaving the house with you on a daily basis.

 

ColdCard

 
This image depicts the Cold Card Crypto Hardware Wallet in Use - hardware-ased crypto asset storage device
 

At first glance, ColdCard looks like a portable calculator from the mid-90s. It’s unremarkable, but then this can be a positive for users looking for a discreet form of storage for their currencies.

 

Created by CoinKite, the ColdCard weighs in at an affordable $40 at the time of writing and is an entirely open-source product – meaning that if it had any security flaws, they would’ve certainly been discovered and patched up by now.

 

There aren’t many hardware wallets out there that offer as many quirky security features as ColdCard. The most intriguing here is the ‘BrickMe’ feature, where once a predesignated PIN is entered into the device, it wipes itself instantly – becoming unusable. The wallet can be galvanised through the use of a recovery seed key later on, so your stored currencies won’t be erased, but this forms a great – if not slightly James Bond-esque – last line of defence for your assets.

 

Unfortunately, ColdCard doesn’t boast the widest array of compatible coins – with only Bitcoin and Litecoin recognised as compatible. It’s also not the easiest device to use for inexperienced investors, but it can be a great cheaper option for users who are happy to navigate the complex device framework.

 

Corazon

 
This image depicts the Corazon Luxury Hardware wallet for cryptocurrencies in a marketing image
 

If we’re considering the ‘best’ cryptocurrency hardware wallets out there, then it’s hard to exclude the prestigious offerings of Corazon.

 

To call Corazon’s hardware wallet ‘high-end’ would be an understatement. Weighing in at a starting price of around $700, this wallet is highly advanced and extremely secure.

 

This wallet boasts a tamper-proof design that features latches and hocks for ease of portability. The device is entirely impregnable, too – for added security. This means that once the titanium case has been closed by the developer, it’s impossible to reopen without compromising its external integrity.

 

The software and security measures offered by Corazon have been verified by Trezor – a reliable name in the world of cryptocurrency management, meaning that if you’re an investor looking for a supreme storage experience, whatever the cost, the Corazon could be the ideal solution for your needs.

 

disclaimer

CHAIA.iO is not a registered investment, legal or tax advisor or a broker/dealer. All investment/financial opinions expressed by CHAIA.iO or the authors of the respective articles on www.chaia.io are from personal research and experience of the owner of the site or the authors and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors or misprints may occur. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.

Raphael Birchner
CHAIA Master Brain