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Your cryptocurrencies are only as secure as your private keys. Cryptocurrency wallets secure the private keys which you use to access and manage your cryptocurrencies. These wallets include hardware wallets, software wallets, and multi-signature wallets. Software wallets are vulnerable to internet-connected devices and related cybersecurity threats that could expose private keys to threat actors. Contrarily, hardware wallets eliminate this vulnerability by securing your keys on the portable device that you can keep safe. Hardware wallets offer a basic approach to security as a physical lock and key and are recommended if you hold a significant value of cryptocurrencies. Here are the top hardware wallets for securing your private keys:
- Ledger – Nano X and Nano S
Ledger Hardware Wallets (Image: ledger.com)
Ledger offers the most popular hardware wallets for cryptocurrencies with its flagship Ledger Nano X and a budget option Ledger Nano S. Both devices have built-in operating systems reinforced with certified security chips to protect the wallet from any attacks. Ledger Nano X’s OS supports Bluetooth making the wallet compatible with iOS and Android devices without having to set up via a computer. Also, with the Ledger Live app release, you can wirelessly connect to your smartphone and manage your cryptocurrencies directly. Ledger hardware wallets are simple to use, requiring you to set a PIN code and a 24-word recovery phrase which you can use to recover your cryptocurrencies in case you lose your wallet. Both wallets have a user interface screen that eases set up and navigation. Ledger’s Nano S can manage up to 20 crypto assets while Nano X can manage up to 100 crypto assets on your device. Ledger’s flagship Nano X goes for $119 while Nano S costs $59.
- TREZOR–Model T and One
TREZOR Model T (Image: trezor.io)
TREZOR hardware wallets are the first Bitcoin hardware wallets to enter the market. Developed by long-time Bitcoin miners Marek Palatinus alias “Slush” and Pavol Rusnak alias “Stick”, TREZOR wallets boast of a good reputation over the 7 or so years in the market. TREZOR’s Model T is an upgrade of the pioneering TREZOR One. The greatest contrast is Model T’s touchscreen that has enhanced user experience by making the device navigation easier. For instance, when you need to enter your seed phrase, you can type it in via the touchscreen unlike in TREZOR One, where the input is through a computer. The Model T also allows you to easily back up and recover your wallet using a 12-word seed phrase in case you lose the wallet. Model T is compatible with major computer OS including Windows, macOS, and Linux and mobile OS Android with iOS not supported. Model T supports over 1,000 cryptocurrencies and costs $170.
- BitBox02
BitBox02Wallet (Image: medium.com)
This Swiss-developed hardware wallet for cryptocurrencies deploys simplicity and a minimalist design. It is a good option for those looking to purchase their first hardware wallet as it is quick to set up and new users can easily learn to use it through its in-app guide. Also, BitBox02 allows you to back up and restore via a microSD card. Incorporated into the BitBox02 ecosystem is the BitBoxApp that allows you to manage your cryptocurrencies safely. The ecosystem is compatible with Windows, macOS, and Linux on desktop and Android on smartphones. The wallet comes with a dedicated Bitcoin-only firmwaret hat keeps your Bitcoin even safer. BitBox02’s advanced wallet supports over 1,500 coins and its firmware boasts of open-source auditability and secure multi-sig support. BitBox02 currently costs $115.
- Cobo Vault
Developed in Shanghai China, Cobo Vault boasts of its security features, a critical component for every hardware wallet. Cobo Vault features EAL 5+ Secure Element which generates random private keys for keeping your cryptocurrencies safe. Its open-sourced firmware ensures compliance with security standards and auditability. Further, wallet communication with devices is air-gapped by QR code to enhance its security. Like BitBox02, Cobo Vault offers a Bitcoin-dedicated firmware that limits the code base thus minimize attacks on Bitcoin users. Its multi-coin platform supports several coins and tokens with simultaneous coin storage. Fitted with a 4-inch touchscreen, navigation, and usability is greatly enhanced. Support for microSD card firmware also minimizes attack risks. Cobo Vault supports fingerprint authentication and is waterproof. Cobo Vault comes in 3 models; Cobo Vault Essential ($99), Cobo Vault Pro ($149), and Cobo Vault Ultimate ($479).
Cobo Vault Waller (Image: cobo.com)
Summary
There are many other hardware wallets in the market. These top wallets offer the best value for money in the market, ensuring your private keys are secure. While looking for your wallet of choice, compare the features of different products and select which best fits your usability, and do not compromise on the security of your private keys. Select a wallet that deploys high-level security and supports backup and restore to retrieve your coins, in case you lose your wallet.
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