As most cryptocurrencies continue to rise, and more and more companies begin accepting bitcoin and other digital currencies, bitcoin security is becoming an ever-increasing issue. How do you find the safest way to keep your bitcoins?
Are you going to use a software wallet? Or a hardware wallet? What is the best bitcoin wallet for you? As with most technological things, there is a balance between ease and security. And, by chance, hardware wallets score high on both subjects! Since the value of bitcoin has risen sharply in 2017, demand for hardware wallets has risen enormously.
What makes a hardware wallet so safe? A hardware wallet stores private keys, usually encrypted, on a physical piece of hardware that is shut down from computers and the internet, making your bitcoins not sensitive to hacks. Hardware wallets can especially be useful if you make large investments in cryptocurrencies.
It’s common to split crypto investments so you can keep some money in a software wallet or bitcoin credit card and keep the rest in a hardware wallet. Basically the same principle as having a payment account and a savings account.
So here are the 7 best hardware wallets of 2017!
#1: Ledger Nano S
The Ledger Nano S wallet is a hardware wallet that supports multiple currencies, such as bitcoin, ether and litecoin. You can use multiple wallet addresses for each currency, all on the same device.
You can use the hardware wallet to perform transactions. The Ledger Nano S supports FIDO Second Factor Authentication.
The device has a built-in display, and you confirm transactions through a physical button, making your bitcoins even more resistant to possible malware attacks. Use the Ledger apps to work with your bitcoins and save your data to another Ledger device and other compatible online wallets like Electrum.
The Trezor wallet is a multifunctional hardware wallet that supports many coins, including btc, eth and various alt coins. The device supports two-factor authentication and can even be used for password management.
The device supports recovery of your bitcoins in case of loss or damage, and is one of the most trusted hardware wallets on the market.
KeepKey a tightly crafted cryptocurrency wallet, and has recently been taken over by ShapeShift trading platform.
The device is secured with a PIN and uses a button to confirm transactions displayed on the clear readable screen. KeepKey offers recovery through a 12-word recovery sentence that you need to keep somewhere safe. The device works on all major operating systems including PC, Mac, Android and Linux. KeepKey also supports other crypto coins, including dogecoin, ethereum and litecoin.
#4: Digital Bitbox
Digital BitBox is considered a “minimalist” bitcoin hardware wallet. Nevertheless, the device offers a wide range of features, including optional two-factor authentication, multi-signature support, native software, Tor and TAILS OS compatibility, offline backup and U2F.
A secondary password gives access to a hidden wallet, and if you enter an incorrect password too often, a new wallet will automatically be created. Plus, for technicians who have high security, everything is open source. Despite the minimalist design, this wallet is rich in functionality.
#5: Ledger Blue
The Ledger Blue is the most expensive hardware wallet that Ledger offers, but you also get a lot of value for your money. With the look of an iPad and enterprise-level security, the Ledger Blue is one of the most high-end crypto hardware wallets of the moment. Also on the Ledger Blue, the private keys of your crypto coins are stored on a super-secure chip in full isolation.
CoolWallet is a handy bitcoin hardware wallet that fits easily into your regular physical wallet like a credit card. The beauty of this hardware wallet is that it has a screen that shows your balance. Plus, the card is waterproof. Like most hardware wallets, CoolWallet keeps private keys safe from the Internet. The device works with Bluetooth.
This is actually not a hardware wallet by definition, but more of a bitcoin credit card. Nevertheless, we did not want to keep this useful storage option from you! Use the Wirex credit card as you use your normal credit card. The convenient thing is that you can deposit both crypt and euro.