Hardware Wallets
A hardware wallet is a type of wallet to store your private keys securely off of your computer or online. During the setup for each wallet, the user will set up a backup or seed. The seed will consist of words that will have to be written down and saved so in the case that the wallet is lost or broken, the user can restore their wallet on another device. The best thing about hardware wallets is if your computer is compromised, the hacker still wont be able to steal your money because to send any money you need to confirm the transaction on the hardware wallet. There are many different hardware wallets available to purchase but the ones that will be reviewed in this post will be my top 3 wallets.
Ledger Nano S
The Nano S is right now the number 1 hardware wallet. Its small and looks like a USB device. It features a build in OLED display to confirm each transaction with two buttons on the top of the device. To connect the device to your computer you can use the included USB cable and install the software. The Nano S supports Bitcoin, Ethereum, Litecoin, Ripple and many other altcoins. Even though the Nano S supports many coins, its limited to only four wallets at a time. With that being the only negative for this device, the Nano S is still the leading hardware wallet. Ledger Nano S current price is €79 which is around $97.
TREZOR
The runner up to the Nano S is the TREZOR. Believe it or not the TREZOR is the first Bitcoin hardware wallet available to the public. It was launched in August 2014. The TREZOR is referred as a small, key sized device which can connect to a computer with the included USB cable. Just like the Nano S, it has a built in screen with two buttons to confirm each transaction. To manage the TREZOR there is a Chrome extension but the TREZOR is compatible with many different wallets, including Electrum, MultiBit HD, GreenAddress on the computer, GreenBits and Mycelium on Android, along with myTREZOR.com. The TREZOR current price is €89 which is around $110.
KeepKey
Last but not least is the KeepKey. KeepKey developers claim that each device has bank grade security but simple to use. KeepKey has the largest display of the three but instead of two buttons, it only has a single button. It has multi-currency support: It supports not only Bitcoin but also Ethereum, Litecoin, Namecoin, Dogecoin, Dash, and Testnet. To manage the KeepKey you can download the Client Chrome extension. KeepKey is the most expensive of the three, coming in at $129 but that is because of the added security and the materials the device is made of.
Final Thoughts
These are my top three picks for hardware wallets but if I have to choose it will be the Ledger Nano S. Its small and the design allows me to put it in my pocket or hook it to my keychain.
I am not registered as an investment adviser with any federal or state regulatory agency. The Information should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information provided for informational and educational purposes only.
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