Hardware wallets are physical devices with an embedded chip that are designed to securely store your digital assets. Such a device might look like a flash drive, credit card, car key, etc.
Hardware wallets are cold wallets. Your private keys are stored inside a physical device that connects to the network as needed. All software wallets are considered hot, since it is not a problem for a hacker to get information from any device that is constantly connected to the network. Network wallets have an even lower security level.
How to Manage Funds with a Hardware Wallet
To receive payment in cryptocurrency, you use your public key. However, any action related to sending coins, you will confirm on the screen of your device. After that, a signature is generated inside the device to complete the transaction.
Some of the software in most hardware wallets is used to communicate with other hardware devices. This is necessary so that the user can perform any operations with their assets. Many devices provide an internal exchange function, but the GRS to BTC conversion is not available on all of them.
Best Hardware Wallets
We will consider the most popular and proven models of hardware crypto wallets:
- Ledger Nano X
- Trezor Model T
- SecuX V20
- Ledger Nano S
- Trezor Model One
Ledger Nano X
The Ledger Nano X is the second generation of Ledger hardware wallets. Unlike its predecessor, the Ledger Nano S, it has more storage and a larger screen.
This model is cross-platform, it is compatible with Windows, Mac, Linux, as well as iOS and Android. Connection to other devices is made using a USB cable and Bluetooth connection.
The device has the BOLOS operating system, all applications are isolated from each other. It works with the mobile or desktop version of Ledger live. This wallet supports 37 coins and 1000+ tokens.
Ledger live provides the ability to exchange, sell, buy, and lend cryptocurrencies. From it, you can trade directly on trading platforms, bypassing the stage of depositing on the exchange.
Trezor Model T
Trezor Model T is the second generation of Trezor wallets. This model is functionally similar to the Ledger Nano X and is just as popular with cryptocurrency owners.
The Trezor Model T supports over 1,300 coins and tokens, however, it has firmware designed only to work with Bitcoin. You can also use it to store ERC-20 tokens and other coins.
The open source code of the device makes it possible to detect bugs and vulnerabilities. The device is compatible with all popular operating systems except iOS.
SecuX has 3 versions of hardware wallets released. The V20 is compatible with both desktop and mobile devices, and uses USB and Bluetooth to connect to other devices. SecuX V20 supports Linux, MacOS, Windows, Android, iOS and Chromebook.
The device supports Bitcoin and its forks, Ethereum, Stellar, Ripple, Dash, Doge and ERC-20 tokens.
Ledger Nano S
Ledger Nano S is the first generation of Ledger hardware wallets. It differs from the second generation model in less storage. Its maximum is 2 installed applications against a possible 100 on the Ledger Nano X.
The wallet supports Mac, Windows, Linux, iOS, and Android, but it uses an OTG cable to connect to mobile devices. This model is suitable for beginners or for storing a backup copy of keys.
Trezor Model One
This model was released in 2011. It is a cross-platform hardware wallet compatible with Linux, Mac, Windows, Android devices. The control is carried out by means of two buttons. This version of the device is noticeably inferior in all respects to the Trezor Model T, but can be used similarly to the Ledger Nano S.
You can compose the TOP hardware cryptocurrency wallets according to different criteria. And we do not exclude that in the near future other, even more advanced devices will take the leading positions.