5 Essential Hardware Wallets To Keep Your Cryptocurrency Safe
With cryptocurrency continuing to rise in popularity, prominence and mainstream acceptance, finding safe and secure ways to store your tokens is becoming a pressing priority for investors.
To date, the majority of storage options have come in the form of software wallets, such as Copay and Electrum. Yet, with massive security breaches such as the DAO hack along with an estimated 3 million bitcoins being outright lost (according to blockchain tracking company, Chainalysis), it’s becoming clearer than ever before that exclusively storing your crypto assets online may not be a viable security solution.
This is the problem that inspired the creation of hardware wallets in the world of cryptocurrency. From Trezor to Ledger to KeepKey, the hardware wallet market has sought to solve this key security problem faced by investors and crypto enthusiasts.
Some of these hardware wallets are becoming wildly popular as a result.
Whether you are browsing the web to determine if a hardware wallet is right for you, or are looking to make a final decision on which wallet is the best fit, here are our five favorites, along with what makes them stand out from the pack.
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1. Ledger Nano S Wallet
Eric Larcheveque, CEO of Ledger, is quoted to have stated that, “all the hackers in the world are targeting cryptocurrencies”. This was a source of inspiration for him to come up with a user-friendly solution that would safeguard tokens from hackers — and is also where Ledger entered the hardware wallet scene.
Ranked the best in class and, undoubtedly, the most popular hardware wallet on the market, the Ledger S Nano Hardware Wallet is helping to secure assets for crypto enthusiasts everywhere. With its compact and portable frame, easy-to-use interface and affordable price point ($60), it becomes clear why this model is so highly regarded throughout the space.
Additionally, with its seamless desktop setup being only a USB plug in away, patrons will have the peace of mind that their assets will be secure no matter where they are.
The Ledger S Nano is versatile, and is compatible with Bitcoin, Ethereum, ERC-20 Tokens, Litecoin, Komodo, and Bitcoin Cash — just to name a few. Lastly, every purchase of the Ledger S Nano will include the hardware wallet, a USB cable, an instruction manual, a recovery sheet, and a branded lanyard keychain to make sure your Nano stays where you want it to.
For full product details, please see our product page here.
2. Trezor One Hardware Wallet
If you are looking for a vendor with a proven, long lasting track record, then look no further than Trezor. Marek “Slush” Palatinus (founder and CEO of Trezor) and his team were the first to jump into the hardware wallet space, giving reassurance to buyers that their tokens will be in good hands.
The Trezor One Hardware Wallet is the standard, entry-level wallet crafted by the company. In addition to Trezor being time-tested, the other advantage this product has over others on the market is it has no limit to the amount of coins you can store on a single unit, providing you with the flexibility and convenience you’ve been looking for.
Each unit is priced at $59, and comes with a USB cable, instructions and recovery sheets, sticks and a lanyard. If you are looking for a simple yet sleek hardware wallet to get you started, the Trezor One could be the perfect match.
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3. Trezor Model T Hardware Wallet
Priced at $149.99, and equipped with a vivid, RGB LCD full-color touchscreen, the Model T Hardware Wallet is the next step up for Trezor loyalists. Not only does this wallet enable patrons to monitor and stay active in the world of cryptocurrency while on the move, but it also comes with innovative security features, such as the new randomized digital keypad.
With this feature, all of your sensitive data, from your PIN to financial information, is encrypted and only sent out through USB upon authentication.
Lastly, the comfort and portability of the Model T is another benefit to customers.
Because every unit comes with a built-in USB-C connector, you are able to connect it directly to your smartphone, giving you the freedom to trade no matter where you go.
The Trezor Model T wallet is fast becoming our personal favorite and popular amongst crypto insiders. Read our full review here.
For full product, please see our product page here.
4. Ledger Nano X
The Ledger Nano X is Ledger's newest and most advanced hardware wallet. The device supports all of the various coins that the Nano S supports, but also allows up to 100 of those coins to be stored on the the device at the same time; a major improvement from the Nano S's dozen or so coin capacity.
Another improvement of the Nano X, is the screen is larger and double the resolution of the Nano S. This allows for greater readability of cryptocurrency addresses which is used for verifying your transactions.
The Nano X is also one of the only hardware wallets that is compatible with both iOS and Android mobile devices.
The Price of the Nano X is $119.00, but the significant advantages it has over the Nano S, make the upgrade worth it.
For full product, please see our product page here.
5. KeepKey Hardware Wallet
The fifth and final hardware wallet we will cover is ideal for those who like to keep things simple yet elegant: the KeepKey. Priced at just $129, this unit may be basic in design, but it certainly does not compromise functionality or structure as a result. With its OLED display screen and frictionless ShapeShift integration, you can easily and safely trade crypto on the go.
Additionally, with its structurally sound design and firm aluminum body, you won’t have to worry about accidentally damaging your device.
Each unit purchased also comes with a woven nylon USB cable along with a recovery sentence backup card.
For full product, please see our product page here.
With recent data breaches by ruthless hackers, hardware wallets are becoming an increasingly essential component to trustworthy and secure crypto trading. Whether you’re a novice in the world of cryptocurrency or a seasoned veteran, between the five hardware wallets listed in this guide, there's likely an ideal solution for you.
Out of all the hardware wallets, we recommend the Trezor Model T, Ledger Nano X or Trezor One.
When making your purchasing decision, remember to always conduct business through an authorized retailer. Here at The Crypto Merchant, we pride ourselves on being the largest and most established authorized retailer in North America.
Every order comes with fast free shipping, 30 day returns, and lifetime premium customer support.
If you’re interested in getting started, head over to our hardware wallets page today, or contact our team to learn more.
After you decide which hardware wallet(s) you'll use to securely store your cryptoassets, you'll want to choose a trusted digital exchange to buy and sell coins.
Some of the most widely-used and secure global exchanges include Binance, Coinmama, Coinbase, Abra, and LocalBitcoins.
Binance, headquartered in Malta and considered the biggest (in terms of trading volume) of these platforms, is an especially good exchange for altcoins.
Coinbase, founded in 2012, is a leading and safe global exchange with an accessible user interface. Coinbase offers The Crypto Merchant blog readers $10 worth of free bitcoin when they sign up for the platform with this exclusive link.
Abra offers simple and instant investing and trading of 30 cryptocurrencies.
When you download the Abra app with our exclusive The Crypto Merchant link, you’ll receive $25 in free Bitcoin after your first deposit with a bank transfer or AmEx, or 1.5% cash back when you exchange in cryptos.
Coinmama is another popular, quick and convenient exchange for purchasing cryptocurrencies.
Finally, LocalBitcoin is a private and secure platform for buying and selling cryptocurrencies.
Ultimately, you'll want to try out various global digital exchanges in order to find which one serves your personal preferences and needs.
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