A popular crypto maxim says – Not Your Keys; Not Your Coins. Hence, cryptocurrency wallets are very essential in the crypto industry because it is where we store (hodl) our crypto assets. A crypto wallet can be said to be an application or a device used primarily for the storage of digital assets as well as private and public keys. Also, its functionality cuts across transactional activities like sending and receiving cryptos.
In relation to traditional finance, crypto wallets could be regarded as bank accounts while wallet addresses represent account numbers. Various crypto wallets have been designed but they all fall into two main classifications – cold and hot wallets.
A cold wallet is simply a crypto wallet that is not connected to the internet whereas hot wallets are crypto wallets connected to the internet. Both types of wallets have their unique pros and cons. The major advantage of hot wallets over cold wallets is that it is free and inexpensive to use. On the other hand, cold wallets guarantee higher security of assets.
Cold wallets are also known as hardware wallets. With this type of crypto wallet, users’ private keys are stored in a secure hardware device. The aim is to provide full isolation between your private keys and your easy-to-hack computer or smartphone.
However, a greater percentage of crypto users employ the use of hot wallets over its counterpart. Looking at the trade-offs when using either type of crypto wallet, a combination of both wallets is usually not a bad decision.
Nonetheless, hardware wallets offer higher safety for users as they are less vulnerable to attacks. On this premise, this article seeks to point out some of the best DeFi hardware wallets in the market.
Top 10 Hardware Crypto Wallets
Numerous hardware wallets are on the crypto market. Knowing the right selection to make could be a daunting task for many crypto enthusiasts. Hence, if you are considering the acquisition of a hardware wallet for your digital assets then this list — arranged in no particular order — might be helpful.
- Ledger Nano X
Launched in 2014, the Ledger company focuses on the development of hardware wallets that provide a high level of security for crypto assets. To achieve this, Ledger products combine a Secure Element and a proprietary operating system (OS) designed specifically to protect users’ assets.
Above all, Ledger hardware wallets empower users with the ownership and control of their private keys. It also gives users access to the infinite options of DeFi while supporting over 1800+ crypto assets.
Over the years, Ledger hardware wallets have been one of the most popular products in the crypto industry. Notably, Ledger Nano S was the company’s first cryptocurrency product and the first hardware wallet on the market. Subsequently, Ledger Nano X was introduced into the market and it is regarded as the best hardware wallet.
In describing, the Ledger Nano X wallet resembles a USB drive that can be connected to a computer device via USB or Bluetooth. The Ledger Nano X wallet is the second generation product of the company.
- Trezor Model T
The Trezor brand of hardware wallets was also introduced in 2014 by a group of experts called SatoshiLabs. Trezor wallets offer unmatched security for cryptocurrency assets and password management. Importantly, Trezor wallets come with an interface that is easy to use whether by a new user or an expert. Trezor wallets are said to be the most secure hardware wallets.
The company’s first product was named Trezor One but it later created a more advanced version – Trezor Model T. This next-generation hardware wallet has a better interface for improved user experience and security. It features a touchscreen and a faster processor. It also has advanced coin support compared to Trezor One.
Interestingly, the Trezor Model T gives the user the ability to access third-party exchanges. Also, it supports a wide range of cryptocurrencies.
- SafePal S1 Hardware Wallet
This is the first hardware wallet invested in by the popular crypto exchange, Binance. Unlike the above-mentioned, the SafePal S1 wallet is truly cold storage as it has a 100% offline air-gapped signing mechanism. Also, it has no Bluetooth, WiFi, or USB connectivity. The USB portal available is to charge the device only. The wallet is connected to smartphones (Android and iOS) via the SafePal App.
Interestingly, this wallet supports about 33 blockchains and over 30,000 tokens. Users can add multiple tokens courtesy of the wallet’s unlimited currency storage. More so, with its EAL 5+ independent secure element and multiple layers of security sensors, users can always be assured of the safety of their funds.
- ELLIPAL Titan Cold Wallet
ELLIPAL is said to be the leader of air-gapped cold wallets. Being 100% air-gapped, the Ellipal Titan cold wallet can never be connected to the internet. The cold wallet is fully protected from unauthorized access, cyber hacks, and every other vulnerability that comes with connecting to the internet. With this hardware wallet, the owners have full control of their private keys.
Also, the wallet is fully metal sealed and built with no online components or ports. The only way the ELLIPAL Titan and the App communicate with each other is through secure QR codes which are verifiable. More so, the device has a special anti-tamper technology that protects users’ crypto assets against physical and supply chain attacks. The system is designed in a way that it deletes every data when it detects any form of breach.
ELLIPAL Titan supports over 10,000 coins and tokens including BTC, ETH, USDT, BNB, XRP, ADA, and many more. Above all, it is pocket-sized and easy to set up and use.
Here’s another unique cold storage device where you can easily manage your crypto currency portfolio. The D’CENT wallet professes to be the most advanced cryptocurrency hardware wallet as it offers a new generation of über convenient cold storage
The biometric wallet is primarily characterized by multiple cryptocurrency support, biometrics authentication, secure private key management, robust security, backup, and restoration functions.
Unlike other products on the market, D’CENT supports secure private key generation from the device without connecting to additional software programs. Its built-in fingerprint scanner brings extra convenience and enhanced security for access control and fast transaction signing.
In the case of loss of device, theft, or being wiped to factory settings, the D’CENT wallet is designed to have an optimized recovery process for easy and fast recovery. In addition, the cold storage wallet is continuously adding and supporting new assets.
Similarly, if you are looking for a trusted and affordable cold storage device then KeepKey is your friend. Crypto users can protect their cryptocurrencies, store their private keys offline, and safeguard their assets from hackers using this next frontier security device.
KeepKey is the premier wallet in the new ShapeShift platform which was introduced in 2017. KeepKey gives you PIN protection against unauthorized use, additional passphrase protection, customizable transaction speeds, and limitless wallet addresses on one device.
Notably, the KeepKey hardware wallet has a stress-free security design, a straightforward backup and recovery process plus a sleek and simple display. It supports about 40+ cryptocurrencies only and the Keepkey wallet also lacks integration to many web 3 wallets such as Metamask.
- SecuX V20
Founded in 2018, SecuX Technology Inc. is a Taiwan-headquartered blockchain security company devoted to the building of comprehensive solutions to secure people’s valuable digital assets through blockchain technology. Over the years, the company has deployed many cryptocurrency cold storage devices including SecuX W10, SecuX W20, Nifty, and SecuX V20.
SecuX W10 is the company’s first crypto product while SecuX V20 is the latest and most advanced hardware wallet developed by the team. On the other hand, Nifty is the world’s first NFT hardware wallet.
The SecuX V20 hardware wallet possesses an Infineon EAL5+ military-grade secure element chip to securely store your PIN and Private Key, and authorize transactions without the private key ever leaving the device. Along with the Infineon Secure Element to protect your private key, the wallet also prevents third-party intervention with tamper-proof sealing tape.
More so, SecuX wallets generate your unique 24 recovery words and support BIP-32, -39, and -44 standard 12, 18, and 24 recovery word sets. It also provides a 25th-word passphrase for additional security. The hardware wallet also supports USB and Bluetooth connections. Most importantly, it supports a wide range of crypto assets – over 1000+ coins and tokens can be added to the device.
- Keystone Pro
The Keystone Pro hardware wallet, formerly Cobo Vault Pro is another unique 100% air-gapped crypto cold storage device. The device has a proprietary bank-grade Secure Element that ensures your private keys never leave the Keystone wallet. Also, the device makes use of QR code transmissions only. By so doing, all potential malware infiltration risks are being eliminated while giving users a level of transparency that isn’t just possible with Bluetooth or USB.
Keystone Pro supports multiple coins and tokens. More so, it has an anti-tamper self-destruct mechanism which will wipe your private keys upon detection of disassembly in case of misplacement or theft.
Interestingly, Keystone is fully compatible with web 3 wallets such as MetaMask. This implies that users can use their Keystone Pro wallet to access the world of DeFi, NFTs, and all EVM-compatible chains.
In addition, ‘Blind Signing’ is a common web3 security problem, and Keystone addresses this. The Keystone Pro hardware wallet provides users with a clear view of transaction details so they can manually confirm the details without blindly trusting and/or signing transactions. Notably, Keystone is the first hardware wallet that integrates ENS (Ethereum Name Service).
BitBox02 is one of the best hardware wallets for crypto beginners. It is the latest Swiss-made hardware wallet featuring a dual-chip design with a secure chip. BitBox02 offers some of the best security features available on the market and boasts a fast setup, microSD backup, in-app guide as well as intuitive touch sliders.
The cold storage device supports Bitcoin, Litecoin, Cardano, Ethereum, Chainlink, BAT, and 1500+ ERC20 tokens. In the same vein, the device supports connectivity to all decentralized applications on the Ethereum ecosystem while keeping your keys safely stored on the device.
In addition, BitBox02 is a universal second factor. This means that BitBox02 can be used as a second-factor authentication key for your crypto exchange accounts.
- CoolWallet Pro
CoolWallet Pro is a new kind of hardware wallet, with a unique, sleek, and credit card-sized design that offers convenience without sacrificing security. With its EAL 6+ certified secure element, 2+1 Factor Authentication, and encrypted Bluetooth connection, the safety of users’ assets is guaranteed.
According to the team, CoolWallet Pro is the best Bluetooth hardware wallet. It is also the first wallet to support in-app NFT trading functions. Overall, the CoolWallet App helps you get the most out of your crypto assets by allowing you to safely store multiple crypto assets, monitor their value as well as trade cryptos securely.
As the industry continues to expand, more crypto storage products and services are bound to emerge. Of course, each comes with its unique set of advantages and disadvantages. It is, therefore, pertinent to execute proper analysis before settling with any hardware wallet to store your crypto assets.