A hardware wallet is the most secure way to store your crypto assets. In this article, you’ll discover the best hardware wallets on the market and how they work.
What are hardware wallets?
Hardware wallet is a physical plug-in device that can keep your digital assets completely safe in an offline environment and without the interference of the third parties. The idea behind the hardware wallet is to isolate your private keys from the Internet where contains a lot of potential risks of being hacked. The hardware wallets require a PIN code to access to your private keys. It means that this type of storage can provide you with an additional layer of security for your assets.
The biggest concern of investors is the risk of device broken and the data inside may be lost forever. However, most of the best hardware wallets nowadays use the feature of a passphrase which is 24-word seed generated at the beginning of the setting and allow users to retrieve all the data. Therefore, even in the case that the physical device is no longer usable, your fund is still safe and able to access through another wallet.
With all of those features, hardware wallet is undeniably the most secure storage method, in comparison to the other types of wallets.
So let’s find out more about the list of best hardware wallets that can help you keep your cryptocurrency safe.
Best hardware wallets: Top picks
#1: Ledger Nano X
One of the names that you may hear the most frequently is Ledger Nano X. This wallet supports a wide range of coins, up to over 1150 cryptocurrencies.
Ledger Nano X is one of the very first hardware wallets in the market uses Bluetooth Low Energy which allows users to connect with iOS and Android devices without physical cable. Besides that, the security system of Ledger Nano X is built based on Secure Elements that require your consent before transactions are made and money is sent out. This feature reduces the risk of being hacked through Bluetooth as well as guaranteeing the highest level of security for your assets, alongside other functions, such as 8-digit PIN code, multi-signature and passphrase support.
Additionally, Ledger’s products are always highly appreciated for the aesthetics, and Nano X is not an exception. This wallet is more stylish and compact with a bigger screen, metallic cover, and black case inside. Overall, Ledger Nano X is considered one of the best hardware wallets when meeting the high standards for both features and appearance.
#2: Trezor T
One of the strongest competitors of Ledger Nano X is Trezor T. Similar to Ledger Nano X, Trezor T can support over 1000 crypto assets in total. Even though Trezor T has a big touchscreen, it is reported to be pretty small compared to users’ fingers which may cause difficulties in manipulating. The pro of the touchscreen is that users do not necessarily interact with the computer for some actions related to PIN code or recovery passphrase.
In addition, the keypad in Trezor T is mixed every time of use, therefore, it is hard for hackers in the attempt to follow and steal your password. That’s why Trezor T is a reputable name among best hardware wallets.
One more cool feature of Trezor T is the support of the 3rd party wallet. Specifically, Exodus, one of the most popular desktop wallets, offers exclusive support for Trezor wallet. All you need to do is to connect Trezor T with Exodus, then, you can access to your wallet through the Exodus’s interface and use all of the functions that this desktop wallet provides.
Keepkey is another name among top 3 best hardware wallets, along with Ledger and Trezor, however, supporting only 40 different cryptocurrencies. This wallet has all basic security features, such as PIN code, 18 to 24 recovery seed, and randomized keypad.
One of the unique things of Keepkey is the largest display screen. It creates convenience for users by allowing them to see entire addresses or even recovery phrase in one interface without scrolling back and forth.
The integration of ShapeShift makes Keepkey more worthy to buy. This function allows cryptocurrency exchange to happen right inside the wallet, therefore, trading becomes easier and more convenient for users. Another Keepkey’s advantage over Ledger Nano X and Trezor T is a more affordable price when sold at only US$ 79, instead of US$ 119 and US$ 170 respectively for two above competitors
#4: CoolWallet S
The next name in the list of best hardware wallets is CoolWallet S. CoolWallet S is advertised as “the world’s first mobile hardware wallet”. It is because this wallet can be easily accessed on iOS and Android smartphones through encrypted Bluetooth connection and mobile app. Users can pair the wallet with up to three mobile devices and also easily removed unnecessary ones in the setting. Additionally, the wallet also allows users to swap cryptocurrency instantly which creates huge convenience for traders.
In terms of security, CoolWallet S offers an extra layer of protection via 2-factor authentication. Furthermore, it requires 3-step verification for every single transaction before they can go through and similar to Ledger Nano X, the Secure Elements feature is also applied in this wallet. Generally, CoolWallet S is one of the best hardware wallets to protect your digital assets.
#5: Cobo Vault
Cobo Vault is another mobile storage on the list of best hardware wallets. It is designed to interact with other devices through a mobile app and QR code, instead of any common connection methods such as USB port, Wifi, NFC or Bluetooth.
Therefore, its operation mechanism is also different from others. Users can create unsigned transactions in the mobile app which are represented under the form of QR codes. These transactions are sent to and verify in the hardware wallet by using its camera to scan the codes and touchscreen to sign. The signed transactions are transferred back to the mobile app also via QR code scanning and broadcasted in the network. This trading method may be complicated and take time but also considerably more secure.
Additionally, unlike other wallets that use a paper for users to write down recovery seed, Cobo Vault contains Cobo Tablet which is a metallic frame to store the words inside. It is a more durable way to keep them safe from external impacts such as fire or flood.
Optimize the use of best hardware wallets with Incognito
Selecting a secure storage method is essential before entering the crypto world. However, to keep your assets completely out of risk, choosing a safe method for using crypto (store, send and buy crypto anonymously) is equally important. One of the best ways that ensure the high level of safety is using cryptocurrency anonymously with Incognito Wallet. It means that you can store, send and buy crypto in total anonymity with Incognito Wallet.
Incognito Wallet is well-known in the market as a privacy wallet but can also play a role as a decentralized exchange that allows users to buy and sell supported cryptocurrencies in anonymity. By using Zero-knowledge Proof technique, Incognito Wallet can verify the transaction between two parties without revealing any personal information. Therefore, investors can execute sensitive transactions in a more private and secure way and have full control over their confidential data.
Specifically, after connecting a hardware wallet to a mobile device and turning on the “Incognito Mode” in the Incognito Wallet, user’s cryptocurrencies are transferred into an independent portal in order to connect with the public blockchain. The platform will then convert the virtual money to the privacy version which is ready to be traded anonymously. The privacy mode in Incognito Wallet will help to obscure your addresses, account balance, and all transactions will be untraceable.
Incognito Wallet is available on both iOS and Android. You can find many more useful functions of this wallet through the website https://incognito.org/ or contacting us directly via https://t.me/incognitochain