I’m sure by the time you get to this point in the crypto space, then you are likely to be in one of the following situation:
- You are a serious and long term cryptocurrency investor
- You have been hacked by someone
- You have the mindset of safe guarding your cryptocurrency from hackers or at least you can sleep well at night
- You just want to try one and see what it is like and how is it different from the other type of wallets out there
- All of above or none of the above.
Generally speaking, all the hardware wallet serves two purposes that is to provide extreme level of security for storing crytocurrencies as well as signing transactions. I like to categorize them into two types; wallets with displays and wallets without displays. Currently bitcoin.org certified brands are only four of them as follows: Trezor, Ledger, Keepkey and digitalbitbox. They are made in Czech Republic, France, USA, and Switzerland respectively. All of them use open source protocol, mostly BIP 39 & 44 PATH. There is a detail comparison for each wallet below that I gathered. Something interesting to mention about digitalbibox, they are the only one so far that offers a TF or microSD card slot that is being used to do your master seeds backup. It also supports the FIDO or U2F like the most of the other hardware wallets, see details below.
There are different aspects to consider when choosing your hardware wallet, this includes; Model, compatibility, level of protection, and price. The right Crypto Hardware wallet can be easily be chosen based on your needs. Let’s do a quick comparison by looking at this chart below:
Last update: 7/14/17
FIDO is a U2F or Universal 2nd Factor, a better and safer 2FA or 2 form factor than Google authenticator, Authy or SMS by text.
* wallet has microSD slot, where you can store your master seeds onto a microSD memory card instead of the need to write it down
** same version as the Ledger Nano, except this one comes with 2 Nanos for backup or sharing purpose.
*** Estimated price shown does not include the shipping cost, normal about $25 to $30 USD. CryptoHWwallet.com offers free U.S. Shipping to U.S buyers
~These wallets are being discontinued.
Ledger has stopped making Ledger H.W1(the first Ledger Hardware Wallet, the smallest that can be on a keychain), Nano, Nano Duo wallets, but will continue to provide support for all of their Apps and plugins.
|Bitcoin||ETH||Eth Classic||DASH||LTC||Zcash||Stratis||Doge||Monero||Ripple||ERC-20 Comp*||Ease of use||OLED Display||EST. Price***||FIDO U2F|
|Ledger Nano S||YES||YES||YES||YES||YES||YES||YES||YES||WIP||YES||YES||5||YES||$65***||YES|
|L Nano duo**~||YES||NO||NO||NO||NO||NO||NO||NO||NO||NO||NO||4||NO||$39***||NO|
Currently Trezor offers a very useful feature called password manager, this is a great feature that is not just for cryptocurrencies. It can be used for all of your password management. This is something that we can all use on a daily basis. Keepkey has started something similar as well.
Try to buy from local seller first if you have access to them. Why? Because the speed of delivery, and sometimes better price too. So try to get them from your local authorized dealer where you reside. It’s generally faster shipping. If there is none at where you reside, you can choose to buy from a credible dealer outside of your country that ships to you. Most of these hardware wallets can be purchased from wallet maker’s websites(except the discontinued models), major marketplaces like Amazon, eBay and etc, but just about all of these wallets can be found at “The Crypto Hardware Superstore” @ www.cryptoHWwallet.com
Read tips below at least three times and be sure you understand my advice before using your hardware wallet, hardware wallets comes with great features and control but at the same time you, the user bears all the responsibilities of its use and misuse!!! Always carefully write down your master seeds, normally 12, 18, or 24 English words, write them down on a piece of paper, never take photos of them, or put save them on computers. Keep multiple copies in different places. Let your loved/trusted significant other know about it if you like. Check them once every few months just to keep your memory fresh. Remember: The master seeds are your last line of defense should your wallet is lost, damaged, stolen. Without those master words, you will lose your bicoins or other tokens for good. Nobody on this planet can help you. Your wallet is your bank. Store your fortune on hardware wallets, and keep small amount in your mobile wallet for convenient uses. Before you make large amount transfers, carefully check the addresses you are sending, be sure it’s copied correctly, you can alway send a small amount first to test. Always keep your hardware wallet up to date with the latest firmware. This is very important. Good luck everyone!!! Go Crypto!!!