Looking to store your Cryptocurrency but you don’t really trust the online crypto wallets out there. Isn’t it?
If that is so, you have come to the right place. Trust me on this. It might sound confusing and you might be wondering that what is a hardware wallet. Hardware wallets are basically physical wallets which can be used to store cryptocurrency like Bitcoin, Ethereum, Litecoin, DASH and Zcash. Just like any other wallet, what best bitcoin hardware wallets do is save your private bitcoin keys in the wallet safely. They are much better than other software wallets and their advantage is that they are safer as well.
What makes them safe is that the private keys of the users are stored in the micro-controller of the device which is highly protected and due to that the private keys cannot be transferred out of the wallet in simple text form. It is also immune to any kind of computer viruses which makes it even safer to store keys because no one can steal it. These wallets have software which gives the user full control and they can operate the device completely. Hardware wallets are the future of wallets as bitcoin is the future of currency.
There are many Bitcoin hardware wallets & Ethereum hardware wallets out there available on the market these days and all of them have a few different features. Many brands have introduced these useful hardware wallets and it could be hard for you to decide which one you want to pick. So in this article, we will review the top hardware wallets available and we will let you know which one suits you the best. Here below is the list of best hardware wallets for bitcoin.
List Of Best Bitcoin Hardware Wallets in 2017
Alright so now we have filtered out 4 best bitcoin hardware wallets available in the market for you to buy in 2017, lets not waste anymore time and jump right into the details of each of these.
1. TREZOR – Best Bitcoin Hardware Wallet
TREZOR is one of the best hardware wallets available out there and as they claim this wallet does have the highest security. The device comes in shape of a USB dongle which is made to add an extra wall of security. This excellent Trezor hardware wallet can be used to make transactions on computers which are unsafe and with the help of this device your protected keys will be safe even if the computer is compromised or has a virus in it. The word Trezor itself means vault which means it’s a vault for your bitcoin keys. The device uses various security tricks to keep your data safe and is highly recommended. The device is compatible with most of the operating systems including Windows, Linux, and OS X.
Trezor provides you the best security for your bticoin in both terms virtual theft and physical theft. Your keys can be protected by the 24 words that can be generated on the setup and it does generate them offline on the device which makes it pretty safe as it never goes on the internet. This bitcoin hardware wallet is also compatible with many of the software wallets which make it easier for you to transfer your keys. The device comes in a packed box which includes the user manual, a USB to micro USB cable and a lanyard.
The device has a small screen and two hard buttons on it which can be used to make transactions. Trezor might add high-security layers but it also makes the user interface very simple and easy to learn. This means you do not have to go through much trouble to proceed with your transactions. As of today; it supports multiple cryptocurrency such as Bitcoins, Ethereum, Litecoin, DASH and Zcash.
For a quick overview, lets go through the pros and cons of the Trezor hardware wallet.
2. Ledger Nano S – Cryptocurrency Hardware Wallet
Ledger Nano S is another top hardware wallet and has some very useful features as well. With this device making transactions is very easy as it displays the confirmed transaction and transactions can be done by hard buttons. Like other hardware wallets, your data is completely safe with Ledger Nano S as it is locked inside a pin. The device is compatible with most of the apps for cryptocurrency wallets and you can even make your own app. What makes it more secure is that also supports the high second-factor authentication FIDO on sites like Google, Dropbox and etc. It also stores your data on a backup sheet which can be easily recovered later by any compatible device.
The Ledger Nano S bitcoin hardware wallet is quite different than other hardware wallets as it comes with a Nano screen. And unlike other hardware wallets, this makes it usable even on the computers which are affected by virus or malware of any kind. The USB shape like ledger comes in a box packing which includes the device, a micro USB cable, a lanyard to attach to device, a recovery sheet on which you can write down the seeds and a key chain. The box also has a protected seal on it which makes sure that no one has messed with your device before it got to you.
Despite being small, the device still has two hard buttons on its side and the only way your transaction will be confirmed is when you will press both buttons together and this makes it impossible for any hacker to hack the device. The device is also protected by a pin code of your choice so even if it is lost no one can make a transaction from it. Ledger Nano S supports Bitcoin, Litecoin, Ethereum and Altcoins.
Lets take a look at the pros and cons of the Ledger Nano S hardware wallet.
3. KeepKey – Simple Cryptocurrency Hardware Wallet
KeepKey is also a very interesting and a good quality hardware wallet which you can buy to store your bitcoins. The wallet has what we call bank-grade security which makes it highly secure and incredibly simple that anyone can secure their bitcoins. The device is highly immune to any kinds of malware and viruses. Another feature it has it that it has a proper backup and recovery system so if you somehow lost the device you can get the backup easily. It also supports multi-currency and the best part is it supports Linux, Windows, Mac and as well as Android.
Keepkey is known as a high definition wallet which means you can back up your entire wallet with the generated 12 words. The default setting for the seed is 12 but generally, it supports keys from length 18 – 24. To generate the seed you will need both devices and a computer and like any other secure hardware wallet the keys are generated in offline mode and are shown on the screen which makes it secure. The generated backup seed can also help you recover your wallet if your device is stolen or lost.
The device does have a button to confirm that the transaction has been sent to the right receiver but you still have to be careful because it does not help you against phishing attacks. The privacy of this bitcoin hardware wallet depends more on what kind of software wallet is used with it. If the software wallet that has high privacy i.e. Electrum is being used with it then it means the device has good privacy. The device comes with an instruction manual a pouch and a micro USB cable. It supports Bitcoin, Ethereum, Litecoin, Dogecoin, Dash and Namecoin. It is considered as the best hardware wallet for Ethereum or either Bitcoin.
Lets see what we have as pros and cons of the KeepKey hardware wallet.
4. Ledger HW.1 – Smallest Hardware Wallet
Ledger HW.1 is one of the best Bitcoin hardware wallets and it is portable and highly secure as well. The amazing device comes with the multi-signature feature so you can organize a transaction which requires more than one key. The device is of high quality and it is immune to any type of computer viruses or malware. It comes in three editions Classic, Multisig, and enterprise and you can buy whichever suits you and on top of that, they come with free updates. This hardware wallet also has a backup and recovery system so in case you lose the device you can recover your data. Overall it is an excellent hardware wallet.
Ledger HW.1 is also in the category of high definition wallets and this means to secure your wallet you only need the 24 word generated seed. The device is small and portable and the HD seed that you need is generated on it in offline mode with your computer. The one thing about this device that bothers most users are that it does not have a screen and that is why you have to confirm the transaction with your PC. Though you can put your PC in offline mode as well and you can use extra security for the ledger. Although the device is protected by pin code and when it is connected to PC you will need that pin code to access it. Failing to enter the code three times will wipe the device clean.
The device also has a 2-factor authentication system that comes in shape of a security card to make it up for the lack of a screen. Every time you need to send a transaction you will have to enter the numbers or the letters from the receiver address using this card. This makes it highly secure as well. The bitcoin hardware wallet comes in a packing which includes the device folded in it, the instruction manual and a security card which you will need for second-factor authentication.
Alright so lets take a look at the pros and cons of the Ledger HW.1 hardware wallet.
How does a hardware wallet work?
Hardware wallets are used to transfer cryptocurrency from one to another they have been specially designed for this purpose and the way they work is pretty interesting. How they work is that whenever a transaction has been made the wallets exchange bitcoin values which late goes into the blockchain which controls the whole bitcoin network. Then it keeps a secret data into the wallet which is the private key and that is the proof that the transaction has come from the owner of the wallet. It also makes sure that nobody has altered the transaction during the process. The network then confirms the transaction in around 10 minutes after broadcasting it to the users. This cycle is designed especially to prevent cryptocurrency theft and to make sure that all the transactions made by the bitocins users proceeds safely.
Why should we have a hardware wallet?
It seems like the future of the currency is cryptocurrency and nobody keeps their currency out of the wallet. Same is the case here and the reason you need a cryptocurrency wallet is that it is the best way of keeping your cryptocurrency safe and being able to access it as well at the same time. The thing is when your bitcoin is stored on the network or on any online wallet you do not technically own it but with hardware wallet, you will own it as you will have your own private keys.
As mentioned earlier all these hardware wallets are extremely good and you can easily store your bitcoins on them without any hesitation. But if you have to go with the one, I recommend you go with Keepkey as it is highly secure and not just that, it is easy to use and very convenient as well. You can also say it is the best bitcoin hardware wallet or other cryptocurrencies for you. It is compatible with most of the operating systems and has an easy way of doing transactions.
It is also known as a high definition bitcoin hardware wallet crypto and you can manage and confirm your transaction on screen and with buttons. Although you still have to be a little careful to avoid phishing attacks on it and you also need to make sure that you are using a good software wallet with it. The brand might not be well recognized among many but still, it works greats and that is all what matters. Its worth every penny!
I hope this in depth review of hardware wallets has been informative all way long and should help you out while buying the best bitcoin hardware wallet which meets all your requirements. Let us know in the comments which hardware wallet are you going to buy and which one we should be reviewing next.
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