Today we will be discussing the top 10 hardware wallets that are used this year to take care of your digital currencies. Using the software for the purpose of communicating with your hardware wallet will also allow you to swap, sell, and also buy digital currencies.
What Is A Hardware Wallet?
The hardware wallets are physical devices that are created to keep your digital currencies safe. When you buy a hardware wallet, you are offered with 2 keys: the public keys and the private keys. The public key is used to receive transactions in crypto while the private keys are solely for your use when you log in to send any crypto to any destination.
So this is the reason why it is important to keep the private keys safe and secret. When formulating a hardware or software wallet the user will be offered with a mnemonic phrase which is at times known as the recovery phase.
Top 10 Hardware Wallets For 2022 And Beyond
When you purchase hardware wallets and connect to all the machines, all the information that is important is presented only on the screen of your device. You also receive the recovery phrase and you have the control to set the pin code.
Here are the top 10 hardware wallets that you can consider using in 2022 and beyond. These wallets are ranked based on their security and ability to hold your digital currencies safely. Note one thing, we will not compare hardware wallets, we will just discuss the top 10.
Ledger Nano X
One of the famous Hardware Wallets named Ledger Nano X is the second generation Hardware wallet. Ledger is a French company that came into existence in 2014. This company is well known for making different types of hardware wallets. Its Nano S is one of the first hardware wallets and serves its purpose best.
Now coming to its physical appearances. Nano X looks like a USB drive and will connect to your device via USB or Bluetooth. This implies that in order to connect there is no need for a computer, the device can be easily connected to your Android or iOS. This device can store up to 1,500 cryptocurrencies, which is not a bad number. This is also a good Bitcoin hardware wallet.
Trezor Model T
This is the second best hardware wallet 2022. Trezor Model T is also the second generation of the Trezor hardware wallet. Trezor completely matches all the Ledger nano X security features and fame and is also a great hardware crypto wallet. It consists of an in-built color touchscreen with a large display which offers the users a superior experience. This model of Trezor can host more than 1300 coins and tokens, however, the user can switch BTC only firmware that has been formulated to take care of Bitcoin in particular.
Trezor Model T along with all its hardware and software specs is completely open source, with any individual programmer invited to try to find vulnerabilities and bugs. The whole firmware of the Trezor Model T has been completely re-written from the basics for improved security of the first generation of the Trezor One model. This is among the best hardware wallets India can ever get.
Ellipal Titan is renowned for using hardware wallets that are air-gapped security solutions. An air-gapped state separates your Ellipal hardware wallet electromagnetically, physically, and electronically from all other networks.
While most hardware wallets avail either Bluetooth or USB, Ellipal Titan with its Ellipal application uses only QR codes to sign any transactions. In a matter of fact, the Ellipal Titan circuit board was designed not to be compatible with Bluetooth, Wifi, and cellular blocking all physical connections.
This is a new hardware wallet project that has been backed by Binance Labs. It is availing the air-gapped connection system and EAL 5 checked security feature with self-destruct system in offline forceful attacks scenario. This hardware device is the size of a credit card with a 1.3 inch screen and a battery of 400mAh.
SafePal supports 20 blockchains and 10,000+ tokens. It operates with a SafePal wallet that is available for iOS and Android devices. The SafePal software wallet allows coins to bep20 – bep2 – erc20 swaps.
D’CENT hardware wallet is designed for Android and iOS devices and operates with the D’CENT wallet app. The device has a very convenient constructed fingerprint scanner (which is known as the Biometric wallet also) which adds to both faster transaction signing and security.
It has a 128×128 pixel OLED display that allows the user to see the transactions clearly. The D’CENT supports 25+ blockchain digital currencies, ERC20 tokens but also the power to add custom tokens that stays on the blockchains like Heco (HRC20), Binance Smart Chain (BEP20), RSK (RRC20), XIFIN (XRC20), and many more.
SecuX features 3 options of their hardware wallets. W10 which can be employed only on PC laptops, and W20 and V20 which are compatible with both Desktop and Mobile users.
The last generation V20 avails Bluetooth and USB for connection with both laptop-PC and mobile devices. Advanced encryption standard AES-256 is used for the purpose of data security and holds the certification of EAL5+.
CoolWallet Pro is a hardware wallet that is compatible with both iOS and Android devices. It operates with the CoolBitX Crypto Wallet App with the help of a Bluetooth connection. CoolWallet Pro is said to be the second generation of the CoolWallets (first being CoolWallet S) which allows the direct staking of Polkadot (DOT), Tron (TRX), and Cosmos (ATOM). The user is able to stake and exchange digital currency and connect to DApps/Defi protocols but also the user can deposit USDT and earn the returns, purchase digital currency, participate in Airdrops, and many more.
Keystone Pro is a hardware crypto wallet that uses the air-gapped QR code communication.
It has a detachable battery and also a 4-inch touch screen for a great user experience. It is PSBT compatible along with third-party wallets.
It has 3 variants: Essential, Pro, and Ultimate that range from $119 to $479. The Pro version offers a fingerprint sensor and a self-destruct system, while the Keystone version ($479) along with this is also waterproof, with an aluminum body and hardshell protection case.
BitBox02 is a Swiss produced desktop cold wallets (Windows, Linux, Mac). Now it also supports Android devices that use a USB-C connector. It supports digital currencies like Litecoin, Bitcoin, Ethereum, and only all ERC20 tokens. It operates and is inserted just like a USB with no additional equipment required. It operates with the BitBoxApp which the user downloads and installs.
Ledger Nano S
As stated earlier, it is a first-generation hardware wallet that was designed by Ledger. It is one of the first hardware wallets that has ever been made. It was shortly followed by Trezor. Like Nano x, Ledger Nano S can also accommodate 1,500 cryptocurrencies. But it does not come with Type-C cable, so people with Type-C smartphones may face an issue.
Nano S is somewhat the same as Nano X except for a few characteristics. Like Nano X, Nano S also supports all types of Cryptocurrencies and also has access to ledger wallet live software. Unlike Nano X, Nano S does not support Bluetooth connectivity and the wallet limit is 18 wallets. Despite that, Nano S has enough space to store the digital currency. Suppose the user deletes one cryptocurrency to make room for another cryptocurrency, then the user does not lose the deleted cryptocurrency. That one is stored in the blockchain.
Over the passage of time, the digital currency has become relevant and so the use of Hardware Wallets has increased. With the use, there has been an increase in the usage of various types of wallets. Primarily Digital wallets and Hardware wallets are used. Both of them have their pros and cons. Do good market research and then choose the one that is ideal for you. But let us mention one major advantage of using hardware wallets. Since hardware wallets are not directly exposed to the web, they are less prone to hacking which is not the case with software wallets.
Frequently Asked Questions On Hardware Wallets
One of the famous Hardware Wallets named Ledger Nano X is the second generation Hardware wallet. Ledger is a French company that came into existence in 2014.
Since hardware wallets are not directly exposed to the web, they are less prone to hacking which is not the case with software wallets. So hardware wallets are more safe compared to other types.
No, hardware wallets are not solely for Bitcoin, they can be used for storing any kind of digital currency.