Best Hardware Wallets for Crypto of November 2023
Hardware wallets are non-custodial cryptocurrency wallets that provide cold storage of crypto assets. They store private keys and other wallet information offline and use high-grade encryption standards. As a result, hardware wallets are almost impossible to hack and are the safest crypto storage systems available.
So, which hardware wallet should you use today? This article will go through the best hardware wallets to store your digital assets. Also, you will get to learn about their features, how they work, and how to use them. Furthermore, we will examine why you should use a hardware wallet.
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Ledger: The best crypto hardware wallet to store your assets.
Trezor: The oldest manufacturer of crypto hardware wallets.
KeepKey Wallet: A virus-proof crypto wallet.
SafePal S1: The safest crypto wallet.
ELLIPAL Titan: The best crypto wallet that protects your crypto from physical threats.
SecuX V20: The hardware wallet that provides vault-grade security.
BitBox 02: the best Bitcoin hardware wallet.
Ledger Hardware Wallets
Ledger Wallet is made by Ledger, a company that makes security solutions for crypto and blockchain. In 2014, eight technology experts launched Ledger to create products related to blockchain technology.
Ledger has a unique operating system that it integrates into its hardware devices and software wallets. Hardware wallets developed by Ledger include the Ledger Nano S and the Ledger Nano X.
Ledger Nano S Final Edition
About 107 cryptocurrencies and 1,100 tokens can be stored offline on the Ledger Nano S wallet. Ledger has sold off all its initial Nano S devices at the time of this writing.
Meanwhile, the new edition of this Ledger wallet is known as the "Nano S Final Edition." There are only 10,000 devices in this edition, and they all come with an exclusive NFT. Currently, the price of the Ledger Nano S Final Edition is $59.
Ledger Nano S stores your private keys, cryptocurrencies, and NFTs offline.
The device works with the Ledger Live app.
You can connect the hardware wallet to a Windows, MacBook, Linux, or smartphone device using a USB connector.
The Nano S Final Edition supports up to 100 apps, depending on the size of each app.
It supports Bitcoin, Ethereum, Stellar, Litecoin, and over 1,100 crypto assets.
Ledger Nano X
Ledger launched the Nano X hardware wallet in 2019 to provide easier asset management. With Nano X, you can connect your hardware wallet to a mobile phone through Bluetooth connectivity.
This device weighs 34 grams and contains a 100mAh battery. It is bigger than the Nano S and has a larger screen for clearer visibility. As of this writing, Ledger Nano X costs $119.
You can store up to 5,500 crypto assets on the Nano X wallet.
It works with the Ledger Live app.
You can connect it to Bluetooth-enabled mobile phones for easy asset management.
It uses Secure Element (SE) to ensure that despite an active Bluetooth connection, no action takes place without the owner's consent.
It has enough memory that can accommodate up to 100 apps.
Best crypto hardware wallet to store your assets
Ledger devices are widely known hardware wallets. They feature a unique operating system designed to ensure a secure user interface.
No Bluetooth connectivity for Nano S. For Nano X, Bluetooth does not work with a PC.
Pros & Cons of Ledger Nano S
It provides cold storage at a very affordable price.
The initial edition supports a few apps due to its limited storage capacity.
It relies only on a wired connection.
Pros & Cons of Ledger Nano X
Bluetooth makes it easier to connect with mobile phones.
The crypto wallet uses more powerful and industry-leading security features.
You can store up to 5,500 cryptocurrencies on Ledger Nano X.
It costs double the price of the Nano S.
The Bluetooth feature does not work with computer systems.
Trezor wallets are products of SatoshiLabs, a Prague-based cryptography firm. The company released its first hardware wallet (Trezor One) on July 29, 2014. Four years later, they also launched the Trezor Model T wallet.
How do these crypto wallets work?
Trezor Model One
Trezor One is a crypto hardware wallet that is easy for beginners to use. It lets you store your private keys and more than 1,000 crypto assets in cold storage.
The wallet comes in both white and black. Selecting a color is only a matter of personal preference, as both colors sell for the same price and have similar specifications. The Trezor Model One wallet sells for 69 EUR and is available on Trezor's official store.
Features of Trezor Model One
It features the Universal 2nd Factor (U2F) authentication standard. U2F is a standard that ensures users can ascertain the service they are signing for when using 2FA.
Its 124 x 64 pixels screen can simultaneously display up to six lines of text.
Users can connect it to computer systems and Android devices using a micro USB cable.
The Model One crypto wallet weighs 12 grams and is light enough to fit in your pocket.
The wallet supports Bitcoin, Bitcoin Cash, Dogecoin, and 1000+ cryptocurrencies and tokens.
How it works
The first step in setting up your Trezor Model One wallet is to write down the 24-word seed phrase it generates. Remember, your local backup is essential in case you lose the device.
For additional security, the crypto wallet requires you to set a pin code and enter the pin each time you plug the device into a computer.
To initiate crypto payments:
Connect Trezor One with a computer or mobile phone.
Visit the Trezor suite website from Google Chrome.
The website will detect your wallet and display your crypto balance. You can then send and receive cryptocurrencies from the Trezor suite user interface.
Trezor One users can connect the device with software wallets like MetaMask and Exodus wallet to stake crypto or perform other blockchain transactions.
Transaction signing is done manually on the wallet by a user. Therefore, no sensitive information leaves the Trezor Model One wallet.
Trezor Model T
Trezor Model T is a second-generation hardware wallet that provides advanced security and digital independence.
It serves as a secure crypto wallet and also a two-factor authenticator. As of this writing, the price of the Trezor Model T is 249 EUR.
Features of Trezor Model T
Model T is a touchscreen device that provides a convenient user interface.
Users can store over 1,200 coins on this Trezor wallet.
You can connect it to a computer system or mobile phone using a USB-C connector.
Trezor Model T weighs 22 grams and has a 240 x 240 pixels screen.
A 168 MHz ARM processor powers it.
Oldest manufacturer of crypto hardware wallets
Trezor has earned high credibility over the years as the oldest producer of crypto hardware wallets. Also, its products can serve as authentication keys for your online accounts.
Pros & Cons of Trezor Model One
The screen is large enough to display necessary information about a transaction.
Its price is pocket-friendly.
Connecting with third-party online services can undermine the safety of users' assets.
Pros & Cons of Trezor Model T
Touchscreen design makes it easier to use.
Passwords provide greater security.
Setting up the Trezor suite website on a computer system is a long process.
Its price is four times that of Model One.
KeepKey is a hardware wallet that helps investors get out of debt by letting them store cryptocurrencies offline. In 2015, Darin Stanchfield started a company called KeepKey. In August 2017, he changed the name of the company to ShapeShift.
Meanwhile, Shapeshift also owns a few products alongside KeepKey. These blockchain products include the ShapeShift platform (where you can trade, exchange, and stake crypto) and FOX DAO.
KeepKey is primarily a Bitcoin hardware wallet. However, it can also store 40+ cryptocurrencies. As of this writing, the price of the KeepKey wallet on Shopify is $79.
Consider the following features that the KeepKey wallet has to offer:
Features of KeepKey Wallet
The wallet generates your private key offline, protecting it from computer malware.
Users manually sign transactions using the confirmation button.
The display screen is large enough to show details about every transaction.
KeepKey's backup and security features include a 12-word recovery phrase, an additional seed phrase (by personal preference), and a confirmation pin.
You can customize the speed of payments to slow, average or fast.
The wallet can generate more wallet addresses for blockchain networks.
KeepKey is virus-proof as it does not use an operating system.
It uses a USB cable to connect to computer systems.
How it works
Currently, KeepKey works with the ShapeShift web platform. Users need to connect their wallets with this platform to initiate transactions.
The following are steps to start using KeepKey for transactions:
Connect the wallet with your computer
Click "Connect a wallet" in the website's upper left corner. After that, select "KeepKey" in the list of wallets.
If the platform requests that you update your device, download, install and launch the update software.
After 'Step 3' above, go back to the Shapeshift platform to initialize KeepKey, label your device, and set a PIN code.
You can now transfer, manage or trade your assets on Shapeshift.
Resistant to virus and malware attacks
KeepKey wallet is a preferable choice for users that plan to store a limited number of cryptocurrencies.
Pros & Cons
No computer malware or virus can infect the wallet.
Using additional seed phrases might make the wallet less secure.
KeepKey supports only a few cryptocurrencies.
The SafePal S1 hardware wallet is a secure way to keep track of and grow your crypto assets. SafePal released the wallet in May 2019, and Binance, one of the biggest cryptocurrency exchanges, backed it.
Owners enjoy a one-year warranty after purchasing the wallet. Likewise, it comes with a USB cable and a special cleaning cloth.
SafePal also made a fire-resistant seed board (for storing seed phrases) and a leather case (wallet holder) for the wallet. However, these products are bought separately from the SafePal S1 hardware wallet.
Currently, the S1 wallet costs $70 on SafePal's official store.
The S1 wallet supports cryptocurrencies of 33 blockchain networks and an unlimited number of tokens.
It has a camera for scanning QR codes and wallet addresses.
Its 400 mAh battery can last up to 20 days, depending on usage.
The wallet has three seed phrase cards where your mnemonic phrase is permanently engraved.
Its screen is 1.3 inches large.
The wallet features EAL5+ Secure Element, security sensors, and two-factor authentication.
SafePal S1 will self-destruct in case of a malware attack.
Firmware upgrade allows you to add the latest cryptocurrencies.
How it Works
Authenticating the wallet
The security of SafePal S1 is top-notch as it does not use a USB, Bluetooth, or WiFi connection. Instead, it works with the SafePal software wallet. Therefore, users can only initiate transactions from the SafePal mobile wallet. The following are steps to activate and use the S1 wallet:
The first step is to activate the new device using a smartphone browser.
Setup a new wallet or retrieve an existing wallet on SafePal S1.
Pair the device with your SafePal mobile app. This process requires using S1 to scan a code on the SafePal app, then using the mobile app to scan QR codes on the device.
Bitcoin, Ethereum, and BNB have been pre-integrated with SafePal S1. Users have to add new coins manually.
Click here to read SafePal's comprehensive guide to authenticating your SafePal S1 wallet.
Users will initiate all payments on the SafePal app. Then, you will transfer the details to the S1 device by scanning a QR code. Further, enter your PIN on S1 and use the SafePal app to scan another QR code on the S1 device. Finally, you can complete the payment process on the SafePal mobile app.
For more information, read the step-by-step guide detailing how to send crypto from the S1 crypto wallet.
Best for Binance Exchange users
If using a device endorsed by Binance sounds fantastic, you may go for the Safepal S1 wallet. More so, it is one of the most affordable hardware wallets.
Pros & Cons
Supports multiple blockchains and unlimited tokens.
Long battery life.
It offers a highly secure transaction system.
It requires too many processes just to perform a single action.
It relies only on QR codes for payment authentication.
ELLIPAL Hardware Wallet
ELLIPAL Ltd. is a company based in Hong Kong that makes hardware for storing cryptocurrencies in cold wallets. The company launched ELLIPAL Titan in October 2019.
ELLIPAL Titan is an air-gapped hardware wallet that stores your private key along with 40 coins and over 10,000 tokens. Recently, the company launched a campaign to produce and sell the ELLIPAL Titan Mini, a smaller version of the original wallet. While the ELLIPAL Titan Mini will have all the features of the original wallet, it will be smaller and cheaper.
At the time of this writing, the cost of ELLIPAL Titan on the company's official store is $119.
The wallet supports over 10,000 crypto assets on different blockchains.
It is an air-gapped device that does not connect to any network or device.
Its 4-inch HD screen displays all necessary information about any transaction.
It requires 2-factor authentication processes like PIN and password entry.
ELLIPAL Titan allows you to create an alternate account with a different password so you won't reveal the genuine wallet in case of a physical threat.
In case of physical tampering, the device will self-destruct by returning to its factory settings.
ELLIPAL Titan comes with a 1400 mAh battery that can last up to 259 hours on standby.
It uses an open-source data format to generate QR codes.
How it works
ELLIPAL Titan only serves as an offline crypto wallet. It doesn't show how much crypto you have and doesn't connect via USB or Bluetooth. Instead, the wallet only communicates with the ELLIPAL app through QR codes.
When you buy a new ELLIPAL Titan wallet, the first step is to create an account and pair the device with the ELLIPAL app. After that, you can follow these steps to send cryptocurrencies:
Initiate the transaction on the ELLIPAL app and select "Submit" to generate a QR code.
On ELLIPAL Titan, select the coin or token you are sending and use the device to scan the "Unsigned Data QR code" on the ELLIPAL app.
Verify the transaction details on ELLIPAL Titan and select "OK."
Use the ELLIPAL app to scan the "Signed Data QR code" generated on ELLIPAL Titan.
You can now complete the transaction from the ELLIPAL app.
To receive crypto, visit the ELLIPAL app to copy the coin's wallet address, and you are good to go. On the ELLIPAL app, users can also trade cryptocurrencies, but you have to give permission to do so on ELLIPAL Titan.
Best physical and air-gapped hard wallet
Ellipal Titan is an air-gapped wallet that supports thousands of cryptocurrencies. However, the device is sizeable, and users might not want to carry it around.
Pros & Cons
The system destroys your wallet information immediately after it detects hardware tampering.
It is an air-gapped device that cannot suffer remote attacks.
Alternate accounts are a security measure against physical threats.
The device does not display crypto balance on its own.
Unlike other hardware wallets, ELLIPAL Titan is sized big with a large screen.
The SecuX V20 is a hardware wallet that keeps your private key as safe as a bank vault. SecuX Technology Inc., a blockchain security company, launched the device in January 2019.
Alongside the V20 wallet, the company also produced the SecuX W20 and W10 hardware wallets in 2019. These wallets also deliver military-grade security features. Also, in 2022, SecuX Inc. released the Nifty hardware wallet, which can be used to store non-fungible tokens (NFTs) outside of the internet.
During this writing, the SecuX V20 hardware wallet costs $139. Consider some of its features:
Features of SecuX V20 wallet
SecuX V20 is a touchscreen device with a 2.8-inch display screen.
Users can connect it to a computer system or mobile phone.
It features Bluetooth 5 connectivity and can also be connected using a USB-C cable.
It supports BIP32, BIP39, and BIP44 seed phrase standards and allows you to add a 25th word to your recovery phrase.
The crypto wallet supports different blockchains and over 1,000 digital assets.
SecuX V20 is integrated with a Secure Element chip for your private key's secure storage.
The device implements a dynamic keypad for PIN entry and will restore factory settings after five incorrect PIN entries.
Its 600 mAh battery can last for several hours after a full charge.
How to Use it
The SecuX V20 hardware wallet is not a waterproof device. Therefore, you should not use it or leave it near a bathtub or sink. Likewise, avoid handling the device roughly to prevent any physical damage.
Your first action after purchasing SecuX V20 is to set up a new crypto wallet on the device. Set a PIN you can remember and write out your seed phrase.
Afterward, connect your wallet with the SecuX mobile app (iOS or Android). For computer systems, visit SecuXess on Google Chrome to connect your wallet with the platform. You may connect the wallet using either Bluetooth or a USB cable.
Before you can store, receive, or send digital assets, you need to add an account on the SecuX mobile app or the SecuXess website. Each cryptocurrency needs a separate account (e.g., an Ethereum account), and you can open up to 500 accounts on one wallet.
The following are steps to send cryptocurrencies using the mobile app or SecuXess:
Connect SecuX V20 with your mobile device or computer.
Go to the SecuX app or visit SecuXess to select the asset you want to transfer and press "Send."
Enter the transaction details and select "Continue."
Recheck the details before authorizing the transaction on your hardware wallet.
Press "Send" on the app or web page to finalize the payment.
The hardware wallet that provides vault-grade security
From using military-grade security architecture to unpredictable PIN-entry patterns, the Secux V20 wallet ensures that your wallet is secure and cold.
Pros & Cons
Dynamic keypad for PIN entry
It requests two-factor authentication before securing a Bluetooth connection.
The device will reset after five unsuccessful PIN entries.
The SecuXess web platform only works with Google Chrome.
Only people who understand English, Chinese, and Japanese languages can use the device.
BitBox02 Hardware Wallet
BitBox02 is a Swiss-made cold wallet that provides state-of-the-art security for your digital assets. It is a second-generation hardware wallet and the successor of BitBox01.
Shift Crypto AG, a Zurich-based company, launched BitBox02 in 2019 to deliver a more comprehensive blockchain security service. Although BitBox01 users can still use the device, Shift Crypto AG is no longer producing or selling it.
Meanwhile, the BitBox02 wallet has a Bitcoin-only edition. Unlike other hardware wallets, the BitBox02 Bitcoin-only edition can only serve as a Bitcoin wallet. Check these out if you're looking for a Bitcoin Lightning wallet.
BitBox02 keeps your wallet information safe from the vulnerabilities of hot wallets. The cost of BitBox02 on the Shift Crypto store is $129.
Features of BitBox02
Users control the device using its invisible touch sensors.
It allows you to authorize transactions on NFT marketplaces and Dapps.
The wallet is plugged directly into mobile devices. However, it connects to computer systems through a USB-A to USB-C adaptor.
It has a 124 x 64-pixel screen.
You can use the device as a 2-factor authentication key for online accounts.
BitBox02 supports Bitcoin, Ethereum, Litecoin, and over 1,500 cryptocurrencies.
It stores your backup information on a removable microSD card.
The device is integrated with a secure chip that detects and prevents brute-force attacks or physical tampering.
How it works
Before using a new BitBox02 wallet, you must set up the device using BitBoxApp. The following are things you need to do:
Download BitBoxApp on a mobile device or computer. This application only works with Android devices because the iOS version is unavailable.
Insert the microSD card into BitBox02 and connect it to your phone or computer.
Install the BitBox02 firmware (or BitBox02 bootloader), which is always the latest firmware for the device anytime you are setting it up.
Create a new crypto wallet or restore an existing one.
Set a password for BitBox02.
The wallet will create and save a file that contains your recovery seed phrase on the microSD card.
Sending and receiving crypto begins on BitBoxApp. However, no asset will leave the BitBox02 wallet without a user's authorization or consent. Likewise, before users can copy the blockchain address of a coin, they have to verify on the BitBox02 device that the wallet address should be displayed.
The best Bitcoin hardware wallet
BitBox02 is a Swiss-made device, portable enough for users to plug it directly into their phones. Meanwhile, the Bitcoin-only edition of this device is a great hardware wallet for Bitcoin investors.
BitBox02 will not need the microSD card to operate effectively. Please remove it from the wallet and keep it somewhere safe.
Pros & Cons
The device weighs 12 grams and is small enough to fit in your pocket or a small purse.
BitBox02 stores your recovery phrase on a microSD card instantly.
There is only an Android version of the BitboxApp app.
Types of Cryptocurrency Wallets
Consider the differences between the different types of crypto wallets if you're not sure why you should buy a hardware wallet to store your coins when you can just download an app to your phone.
Differences between Crypto wallets
Custodial vs. Non-custodial Wallet
A custodial wallet is a way for people to store their cryptocurrencies with companies they trust. In the banking system, depositors keep their money in a bank and can transfer or withdraw it.
Similarly, custodial wallet users entrust the safekeeping of their assets to corporate organizations. Like banks, you must open an account with a custodial wallet operator. These platforms follow government regulations and require KYC procedures.
On the other hand, a non-custodial wallet is a crypto storage solution that gives users complete control over their cryptocurrencies. This kind of wallet allows you to be an anonymous user without third-party interference.
Furthermore, you do not need to open an account. Instead, your wallet's seed phrase is the primary means of accessing your cryptocurrencies.
Hot vs. Cold Wallet
A hot wallet is a crypto wallet that requires internet connectivity to function. They are otherwise known as software wallets or mobile wallets.
Examples include Trust Wallet, Exodus Wallet, MetaMask, etc. Hot wallets are essential if you want to interact with Dapps. Nevertheless, they are vulnerable to internet malware and smart contract attacks.
Meanwhile, cold wallets are devices that store your private keys offline. They provide the most secure storage systems for cryptocurrencies.
A hardware wallet device falls into the category of cold wallet storage.
Factors to consider before buying hardware wallets
Cost of the wallet: compare the price of hardware wallets to the size of your crypto portfolio. Generally, investors use hardware wallets as long-term storage facilities for a large volume of Bitcoin or other promising assets. If you perform multiple daily transactions, mobile wallets might be a better choice.
Size and weight: to avoid attention, users who plan to move around with their wallets, should consider buying small-sized hardware wallets. But, you can opt for a wallet of any size if you plan to keep the wallet in one location for an extended period.
Security features: a hardware wallet's encryption standard determines its security level. Also, devices that use Secure Element chips and tamper-proof technology are the best crypto hardware wallets.
The primary function of hardware wallets is to ensure the safety of your private keys and whatever assets you store on them. You can enjoy true crypto ownership by using a hardware wallet to keep your crypto off the radar.