Nowadays due to the rapid growth of crypto, a great number of digital wallets have emerged giving access to crypto world on-the-go but it has some pitfalls. While choosing the wallet we take into account its security, mobility, convenience, user-friendliness, and style.
Hardware wallets are leveraging the cutting-edge technology to secure the private keys separate from vulnerable internet-connected devices without trading off the portability and ease-of-use.
ChangeHero investigated the strengths and features of different cryptocurrency hardware wallets to provide you with information that will help you pick the one that suits your needs.
For the starters, a hardware wallet is a physical electronic device, which stores your private keys securely. They can be connected to your computer via USB or even Bluetooth in the latest ones. Most of the hardware wallets are secured robustly that you can even use them on a compromised device without worrying about the funds. Hardware wallets are the right choice if you’re concerned about the reliability and security of your crypto storage.
Trezor stands is arguably the most popular and the world’s first hardware wallet. Launched in 2013 by a Prague-based company, SatoshiLabs, the wallet grew in popularity and became the most accessible and convenient hardware wallet ever. Trezor Wallet offers the users with some unique features, such as coin management, high-level security, user-friendly design, multi-currency support, an in-wallet exchange and also has a password manager.
Satoshi Labs developed the Trezor One in 2014. The thumb-sized Trezor One became the first Bitcoin hardware wallet, offering secure crypto storage and the ability to spend with the convenience of a hot wallet. Four years later an upgraded version, Trezor Model T, was released with more advanced security features. Trezor One and Trezor Model T are priced at 69 EUR and 149 EUR respectively. Both the devices support more than 1000 coins and tokens that include popular cryptocurrencies like BTC, LTC, XRP, etc.
Trezor wallet stands among the top hardware wallets due to simplicity and minimalistic design. You can access the funds and manage them through the Trezor Bridge Application compatible with major operating systems such as Windows, Mac OS X, and Linux. For more convenience, Trezor can be accessed on Android Smartphones with the Trezor Manager App and eliminates the need for using a computer to manage your crypto assets.
Trezor can be secured by setting a PIN for accessing the device and uses the Blind Matrix. All the transactions on Trezor must be confirmed manually by the user by verifying and clicking the button on the device. It builds an isolated environment shield for offline transaction signing and minimizes the risk of private key discovery, even if your PC is infected by the virus. In case of loss of your device, you can easily restore the wallet along with the funds with the seed phrase on a new device. Trezor also uses 2-factor authentication for an extra layer of security to keep your funds safe.
With the plethora of its features, Trezor remains one of the safest and secure wallets for holding and managing crypto. Trezor wallet provides its users with military-grade security and a sleek interface that can be accessed on various platforms.
For a while, the Trezor One was the only hardware wallet. Then, The Ledger Company launched the Ledger hardware wallet, which offers a secure way to store digital assets in a compact device. The wallet was developed in 2014 by a team of experts with aims to provide the utmost security for the crypto assets allowing the user to control, send and receive crypto assets in a safe environment. Ledger wallet features coin management, world-class security, user-friendly design, multi-currency support, and an in-wallet Exchange.
The initial version of the hardware wallet is called Ledger Nano S and in 2019 they launched an advanced version, Ledger Nano X. Ledger Nano S can be set-up by connecting it with a computer and is USB only. The latest Ledger Nano X can be configured by using a smartphone connected via Bluetooth. They are priced $59 and $119 respectively and support more than 1000 coins and tokens. All the Ledger devices can be accessed with the help of the Ledger Live application, which is available for Windows, Mac OS, and Linux. The application is also available for smartphones of major operating systems like Android and IOS. There is also a premium version of the wallet with a touchscreen called Ledger Blue promises to provide an advanced user experience in managing the crypto.
The combination of Ledger Wallet’s sleek design with its advanced software features makes it powerful for managing crypto assets. Secure Element in the wallet stores the seed and private keys and performs the cryptographic operations within the wallet. Ledger is the first and only wallet to be independently certified for its security by the ANSSI, a French cybersecurity agency. Ledger also has its own Blockchain Open Ledger Operating System (BOLOS) to provide high-secure protection against attacks. Ledger also provides a recovery seed to restore the wallet in the event of loss of device or theft.
To sum it up, Ledger Nano S is the hardware wallet of choice for the freshmen in crypto and the latest Ledger Nano X is the go-to-choice for the crypto investors with its mobility and robust security for managing crypto assets. All in all, Ledger offers a small and compact hardware wallet that provides secured managing crypto on-the-go.
CoolWallet has been creating a buzz in recent times with its innovative design. Made by CoolBit X, this wallet is aimed to provide portability and convenience for users without sacrificing security. This credit-card sized hardware features coin management, highly secured transactions, multiple currency support, in-wallet exchange. Here are some peculiarities that make CoolWallet really “cool” — it’s waterproof, heat resistant and bendable up to 15 degrees.
CoolWallet offers cold storage for Bitcoin, Ether and other popular cryptocurrencies, packed in one portable device. The wallet was designed to pair with Android and iOS smartphones. Cool wallet has a compact size and easily fits into your pocket like a credit card. Inside the device, you’ll find a small secure chip that stores your private keys. CoolWallet also has a built-in display for viewing details of the transaction.
Being portable and convenient CoolWallet is simple for setting up and using. Moreover, it supports 2-factor authentication and a host of other security features. CoolWallet offers a number of security functions to help protect your crypto holdings, like secure element for keeping crypto private keys, encrypted Bluetooth allowing for quick and secure funds transfers and also manual confirmations to make a transaction. The Secure Element keeps your private key safely in a CC EAL5+ certified S.E. Chipset and won’t let them leave your CoolWallet. As CoolWallet S is an HD (Hierarchical Deterministic) wallet and creates a new address for every transaction. It is simple to recover the wallet if anything ever goes wrong simply by using the seed phrase.
There is no doubt, CoolWallet offers a user-friendly solution to cryptocurrency managing and storage with its promise on making crypto available for everybody. Its sleek design goes hand-in-hand with its brilliant functionality and convenient mobile integration.
Another popular hardware wallet is Keep Key. Launched in 2015, the wallet is famous for its advanced security against virtual theft. KeepKey is a miniature computer designed for storing private keys. The wallet offers its users the same security features as other hardware wallets, such as Trezor, Ledger, etc.
It Generates and manages private keys offline in cold storage, guarded against computer vulnerabilities and viruses, while utilizing wallet software for safe transactions. Keepkey provides access to leading cryptocurrency assets like Bitcoin, Ethereum, Litecoin, Dogecoin, Dash and others. KeepKey Client App provides the user with easy management of accounts and multiple crypto assets on various operating systems like Windows, Mac, Linux, and Android.
The wallet gives youPIN protection against unauthorized use, a passphrase for recovery of the device, customizable transaction speeds, and limitless wallet addresses in one device. The Keepkey wallet is quite comfortable to use and secure,
Cobo Vault stands out from the rest of the hardware wallets due to its cutting-edge technology and a new wave approach. The exclusive tablet for managing crypto assets was debuted in February 2018 to make it easy for people to store and secure their cryptocurrencies. The Wallet supports such cryptocurrencies as BTC, ETH, BCH, DASH, LTC, ETC, TRON, etc.
Cobo Vault features multiple layers of high-security, including 2-factor authentication, multiple layers of security to protect against attacks. It is air-gapped with no Wifi, Bluetooth NFC, or USB capabilities. There is also a companion app for Android and IOS smartphones to manage the wallet. In addition, Cobo Vault is designed with a detachable battery to prevent battery damage over long-term storage. For the additional secure the Cobo store and recover your assets with an included metal mnemonic tablet. It also has a built-in self-destruct mechanism to protect private keys and is water-resistant. Cobo Vault is technologically advanced and fuelled the race for innovation among the hardware wallets.
Which hardware wallet to choose?
The decision of which one to use depends on what features are most important to you — security, convenience, cost, or even style. But the good news is that ChangeHero is going to cooperate with popular hardware wallets in the near future. That means you can instantly exchange over 140 cryptocurrencies at the best fixed and float rates, without leaving the wallet. In addition, you will enjoy 24/7 customer support and will get the best crypto experience ever.