Bitcoin & Crypto: Is a Hardware Wallet Necessary?

As money has changed its form from paper to digital to Cryptocurrency, wallets have changed too. Now, markets are getting stacked with crypto hardware wallets, which is a wallet to store your Cryptocurrency. Similar to a leather wallet for storing cash, here you store ‘Bitcoins’ or whatever you use. The concept seems strange given that this is a digital currency but when these products are in high demand with a few companies making them, crypto hardware wallet reviews can be a good starting point to understand them better.

There are, of course, digital wallet apps, analogous to hardware wallets, but we focus here solely on hardware or physical wallets. These usually come in the form of dongles the size of a thumb drive.

What are the Best Bitcoin and Cryptocurrency Wallets?

First, we have to understand what a good wallet is and what it should offer? It turns out that there is no ‘One Size Fits All’ wallet. Thus, wallets come on different platforms with different features. Thus, wallets can be differentiated into three categories:

• Best for security: for example, Ledger Nano.
• Best for mobile: for example, BRD.
• Best for desktop: for example, Electrum.

The above three cater to different needs, and we can tell from crypto hardware wallet reviews, a hardware wallet is the best for security. These are small dongles or pen-drive like stuff that connect to your desktop, laptop or smartphone via a wired connection. In this context, these wallets act just like your bank account, a physical locker if you can imagine, and instead of coins, they store private keys such as passwords or tokens to unlock various accounts online.

And, it can be a necessity or not based on your activities and personal choice.

1. Ledger Nano X

Selling for around $120 on Amazon this hardware wallet is a Bluetooth version of Ledger Nano that comes with a wired dongle. It also has wired cable connectivity in addition. Then, you also have the Ledger Nano S which is another variant of the hardware wallet that comes with an indestructible steel case.

• The Ledger Nano S sells for around $109 while the Ledger Nano X retails for $120 on Amazon.
• You can secure a large number of assets in one device and install up to 100 apps on your device.
• You can trade your currency on the go with Bluetooth connection directly using your smartphone.
• The Ledger Live is an app that lets you manage up to 22 coins using a single app, but you have to use other wallets for more.
• The Ledger Nano S+ SteelWallet hardware is a bundle providing Certified CC EAL5+ Secure Element chip offering physical protection and managing up to 1000 types of Cryptocurrency.
• The Ledger Nano S is compatible with various wallet types too such as FIDO, U2F, SSH as well as hardware wallets like Trezor, KeepKey and many more.

Tip

Among, crypto hardware wallet reviews, one version might be more suitable for you than the other, so Ledger has various formats

1. Trezor Model T Cryptocurrency Wallet

This device looks quite different than the Ledger in construction but behaves likely. The Trezor security hardware wallet is small and fits well within your palm currently selling at $150 on Amazon. You can store and encrypt cryptocurrencies, passwords with cutting edge security solutions.

• It works with USB-C and microSD card for transfer and storage.
• The touch-screen display is big and offers an intuitive UI to interact directly with your device without needing to always plug into your smartphone.
• It serves as U2F token as well and requires physical approval for authentication requests.
• You can also instantly back it up using seed cards that are included in the box and restore in case of theft or loss.

1. Cobo Tablet Crypto Seed Storage

Among crypto hardware wallet reviews, Cobo offers something slightly different. Retailing for just $40 at Amazon while also available at many websites that sell wallets and purses, Cobo Tablet is indestructible storage for your passwords and recovery phrases. The construction is super grade hardware.

• It is compatible with all BIP39 wallets and supports up to 24 words.
• Made of 304-grade mechanical steel, it is mobile yet ultra-strong and resistant to corrosion.
• It is fireproof for temperatures ranging from 2550 to 2650 Fahrenheit so that your recovery seeds are always safe.
• It is double-sided and supports 96 letters, allowing you to compile 12, 18 and 24-word seeds.

Tip

One of the simplest and most secure hardware wallets without any digital interference whatsoever

1. ELLIPAL Cryptocurrency Hardware Wallet

Some of the crypto hardware wallet reviews fail to appreciate the ELLIPAL wallet which is a nice combo of smartphones and wallets for storing, managing and installing apps all-in-one hardware. Retailing for around $140 on Amazon, ELLIPAL looks just like a regular touchscreen smartphone. It works seamlessly with your iPhone too using the ELLIPAL app.

• This runs a universal OCCW (open cross-chain wallet) protocol to support multi-currency tokens all in one place.
• The big touchscreen allows for a full visual interface ensuring every data transaction and exchange process in real-time.
• ELLIPAL Titan is the most secure air-gap tech in a crypto wallet that has reinforced steel and also IP65 rating for waterproof and dustproof.
• It offers auto-wiping functionality, security adapter for charging, firmware update and much more.
• All your data can be restored on another ELLIPAL device using a 12-digit mnemonic while clearing all data on a lost device after a security breach.

In all, this is a handy device that is larger than the others but offers more control and a visual interface if you need it. IN this package, you get support for 30 mainstream coins and 1000+ tokens out of the box.

Conclusion

In short, a bitcoin or crypto wallet can be an app, a website or a hardware device that stores and manages your private keys for you. Some are tiny and unobtrusive while others are big enough for easy interaction, and you can choose the one that suits your personal preferences.