What are Hardware Wallets: Explanation and Full List
It is no secret that cryptocurrency is a high-risk investment if you don’t have secure storage of private keys to protect your digital assets from malicious hacks and theft. Developing secure storage, such as hardware wallets, has reduced the risk of getting hacked when interacting with blockchains. In this article, we will discuss how owning a hardware wallet can prevent bad actors from stealing your cryptocurrencies and list some of the best options available in the market.
Table of Contents
What are Hardware Wallets?
Hardware wallets are physical plug-in devices like USB flash drives that store the user’s private keys for cryptocurrency transactions. There is a common misconception that cryptocurrencies are directly stored within the hardware wallets, which is not entirely true.
Hardware wallets only store private keys and have specialized firmware that prevents this cryptographic information, allowing users to access and manage their funds from being accessed and stolen by hackers. But how are they different from desktop and web-based crypto wallets?
Although they are all designed to securely store the public and/or private keys for cryptocurrency transactions, hardware wallets are typically cold wallets that store cryptocurrency offline. In contrast, hot wallets like desktop and web-based crypto wallets are always connected to the internet, which makes them more vulnerable to cyberattacks.
How Crypto Hardware Wallets Work
It’s a common practice for hackers to steal cryptocurrencies by using various methods like spreading ransomware through phishing emails, slipping viruses on users’ computers, taking control of them, gaining access to their software wallets, and stealing their private keys. But that’s possible with internet-connected devices, from which hardware wallets happen to be isolated. That’s one of the main reasons they are considered the best way to secure your digital assets.
Private keys play a crucial role in symmetric and asymmetric cryptography since they represent users’ cryptocurrency ownership, open the lock to your address on the blockchain, and allow you to access your digital assets. They are randomly generated by encryption software and can’t be easily guessed. However, the possibility of them getting stolen is relatively high, so it’s vital to prevent that from happening and store them securely.
Hardware wallets often store them in a protected area of a microcontroller. Before any transaction, private keys must interact with separate devices such as smartphones, PCs, laptops, and more.
Before purchasing a hardware wallet, there are several things you must consider.
- They come in all shapes and sizes with different inputs, such as USBs, Bluetooth, cameras, etc. Consider buying one that is easy to hold and carry with you.
- Some hardware wallets only support Bitcoin, while others allow storage of 1000+ cryptocurrencies and tokens, which is a big difference. Check if the hardware wallet you’re about to purchase is compatible with your devices and which operating systems it supports.
- Not all hardware wallets have backup features or offer two-factor authentication, one of the top features they must have.
- Make sure to look deeper into the interface and how you can interact with your wallet and access your funds.
Popular Crypto Hardware Wallets
| Hardware Walet Name | Top Features | Supported Coins | Supported Operating Systems | Open - Source? | Price |
|---|---|---|---|---|---|
| Ledger Nano S | EAL5+ certified. USB connectivity. LCD screen. | 1,000+ coins and ERC-20 tokens | Windows 8.1+, macOS 10.14+, Linux Ubuntu 16.10+, and Android 8+ | No | $79 |
| Trezor Model T | No Bluetooth connectivity. Large touchscreen display in color. CE and RoHS certified. FIDO2 Authentication. | 1200+ coins | Windows 10+, macOS 10.11+, Linux, and Android | Yes | €301.29 |
| Ledger Nano X | EAL5+ certified. Bluetooth and USB connectivity. LCD screen. | 1,000+ coins and ERC-20 tokens | Windows 8.1+, macOS 10.14+, Linux Ubuntu 16.10+, Android 7+, and iOS9+ | No | $119 |
| SecuX V20 | EAL 5+ certified. Bluetooth and USB connectivity. Full-color touchscreen. Dynamic Keypad for Secure PIN Entry. | 1000+ coins and ERC-20 tokens | macOS 10.13.6+, Windows 10+, Linux, and Chrome OS | No | $139 |
| Trezor Model One | CE and RoHS certified. USB connectivity. Full-color touchscreen. Hidden wallets. | 1000+ coins | Windows 10+, macOS 10.11+, Linux, and Android | Yes | €83.49 |
| KeepKey | USB connectivity. Limitless wallet addresses. | 40+ coins | Windows, macOS, Linux, and Android | Yes | $49 |
| Ellipal Titan | Completely air-gapped. Full-color touchscreen. Tamperproof design. Buil-it camera. | 41 coins and 10000+ tokens | Android and iOS | No | $119-$169 |
What are Hardware Wallets' Benefits
Hardware wallets become more and more popular with each passing day. They have maintained a good track record since they first launched and continue growing in popularity because of these specific advantages.
Hardware wallets become more and more popular with each passing day. They have maintained a good track record since they first launched and continue growing in popularity because of these specific advantages.
- Super security
Hardware wallets provide the safest storage for your private keys. Since they are not connected to the internet and don’t release private information anywhere near a computer, your private keys will not be hacked or copied. You can also set a PIN and an optional passphrase as an additional layer of security to protect your wallet from being physically used by other people.
- Immune to computer viruses
Most viruses are designed to attack software wallets connected to the internet. Hardware wallets are immune to viruses that target private keys and send them to hackers.
- Wallet-to-wallet trading
Some platforms allow users to trade assets straight from hardware wallets while sidestepping the exchange, which saves a lot of time.
- Many assets, one location
Some hardware wallets make it possible to manage multiple cryptocurrencies simultaneously. Therefore, hardware wallets will do the job for you if you want to work with different blockchains like Bitcoin and Ethereum on the same device.
- Transaction verification
You can sign and verify transactions through your hardware wallet, reducing the possibility of anyone accessing your device and digital currencies and making transactions without you knowing.
How To Use a Hardware Wallet?
To set up your hardware wallet, you’ll need to connect it to your PC or smartphone using a USB cord or Bluetooth connection and follow the prompts until you get to the PIN code.
Your hardware wallet will generate your PIN code or seed phrase, a list of 12 or 24 “backup words” in a particular order that allows you to access your hardware wallet. This will help you restore access to your keys if your hardware wallet gets damaged or stolen by someone else.
It would help if you memorized that seed phrase to retrieve access to your funds. Remember never to take a picture of it or keep it on your phone or computer. Write them down on paper, save the form in a safe place, or only rely on your memory.
How To Manage Cryptocurrency Using Hardware Wallets?
If you want to receive cryptocurrency, you can use your public crypto wallet address. However, you must communicate with your device through its proprietary apps or websites to trade or send crypto directly from your hardware wallet.
Hardware wallets allow signing transactions physically without the internet. Even when connecting with computers, they never release your private information from the hardware device.
To sign transactions, you’ll need to download the app of your hardware wallet on your PC or smartphone that will communicate with your wallet and provide you with a wallet address, which you must use to send and receive crypto. You will receive unsigned transactions through it, sign them on the hardware wallet without using the internet, then send them back to the program.
Your hardware wallet will generate a “signature”, a transaction message encrypted with your private key, through which you prove your ownership of your private key. Input your PIN code on the device to confirm and verify the transactions, and wait for the confirmation
Hardware Wallet Security Risks
Although hardware wallets are much safer than other options, several things can still go wrong and make them vulnerable to attacks. With that in mind, you need to consider the potential security risks before putting your trust in hardware wallets.
Tampering
The possibility of hardware wallets getting tampered with during shipping is relatively high. It has happened a lot. Many people have received fake wallets, which resulted in their vital private details getting phished by hackers.
Hardware wallet manufacturers have started using holographic stickers to prove that the wallet was never opened. They have also created web pages allowing customers to check their wallets’ security.
Buying hardware wallets straight from a manufacturer’s website or from trustworthy vendors and technically competent security experts with a good reputation can reduce the risk of wallets getting tampered with. You can also open the device and check for extra elements attached to the circuit board before using it.
Preconfigured Seed Phrase
Bad actors have found a new way to access users’ private keys by sending them already existing seed phrases.
As we’ve already mentioned, when you set up your hardware wallet, it randomly generates a sequence of words known as a seed phrase. The keyword in the definition of the seed phrase is randomly-generated. Therefore, if you receive your hardware wallet with an instruction to initiate it with an already existing preconfigured seed phrase, don’t use it.
Insecure RNG
Although private keys’ security is mainly based on these randomly generated seed phrases, it’s not easy to verify the true randomness of hardware wallets’ RNG (Random Number Generation), which may become insecure after a malicious weakening. Bad actors can recover and recreate the seed phrase generated by an insecure RNG in a few hours.
Imperfect Implementation
The security of your wallet mostly depends on the hardware or software implementation, which is almost impossible to prove. If there are flaws in the hardware or firmware, it may be possible for attackers to gain access to your keys.
Evil Maid Attack
In our case, an evil maid attack refers to an attack on a hardware wallet, resulting in the device being altered in an undetectable way. Once bad actors physically access your device, they can install malware on it if it’s not protected by a passphrase or replace it with an already infected device that looks the same as the real one. If your wallet has PIN protection, you can recover your assets and send them to a new wallet.
Hardware Wallets List
Ledger Nano S
How to use it:
You’ll need to plug your Ledger Nano S into your computer with a micro-USB cable, download the Ledger Live desktop app to interface with your wallet, and choose a PIN to set it up and protect it from unauthorized access. The 24-word seed phrase will be shown on the screen of your device.
Features:
The wallet is compatible with over 1,000 coins, Nano S supports BTC, DOT, ETH, LTC, etc., and can be integrated with software wallets. Access to the Ledger Live app is available for Windows, Mac desktop, Linux, or Android 7+ devices. Nano S has an excellent reputation for security; it uses ST31H320 (protection) and STM32F042 (OS) chips that store private keys and sign transactions as separate pieces of hardware and act as extra layers of protection.
Price: $79
Ledger Nano S is one of the easiest-to-use wallets occasional crypto investors can use to secure their cryptocurrencies. It comes with one micro-USB cable, a lanyard, one keychain, a key ring, and a recovery sheet.
Although it supports many cryptocurrencies, it has memory limitations, and you can only install up to 3 applications. It doesn’t have Bluetooth and doesn’t work on an iPhone or iPad. Overall, it’s a good and budget-friendly option for beginners.
Trezor Model One
How to use it:
You’ll need to connect Trezor One to your computer or mobile phone with the USB cord and go to https://trezor.io/start/ to download and install the Trezor bridge and the firmware. Add a PIN code, then write down the recovery seed shown on the display screen.
Features:
The wallet is compatible with 1,000+ coins. It’s supported on Windows, macOS, and Linux, offering FireFox, Chrome extensions, and mobile support for Android phones.
Price: 82.30
Trezor One is another good option for beginners, who can make their first crypto purchase without registering in an exchange, which is one of this wallet’s top features. It was the first hardware wallet ever created and still has an incredible reputation.
It comes with a small USB cord, a small lanyard, and an installation manual. It’s currently not compatible with iOS and doesn’t have Bluetooth, so you’ll need the USB cord to connect to your devices. It doesn’t have a touch screen but has a monochrome display with two buttons for easy navigation. Although it might be expensive for some users, it’s still an excellent and secure option.
SafePal S1
How to use it:
You’ll need to push the power button to start the device and create a new wallet by creating and verifying a seed phrase. SafePal S1 cannot communicate with the internet to send or receive crypto, so you must download the SafePal app and pair it with your wallet.
Features:
S1 works with an app available for both Android and iOS devices. It has unlimited storage capacity, supports 20 blockchains and 10,000+ tokens, and provides
Price: $49.99-$69.99
The SafePal S1 comes with a micro USB cable, a card with QR codes for downloading the app, the user manual, and three recovery phrase sheets. You can manage unlimited tokens with this hardware wallet. It’s integrated with Binance and offers integrations with Defi, Dapp, and NFT.
One of its top features is that it uses a self-destruction mechanism in case of attacks. It’s a perfect option with multiple security layers for beginners and advanced traders.
KeepKey
How to use it:
To set up your KeepKey hardware wallet, you’ll need to download the KeepKey client from the Chrome web store, then pair your KeepKey. Follow the instructions on the screen to set up your wallet, add an account and PIN protection against unauthorized use, then select the cryptocurrency you want to exchange or add.
Features:
KeepKey supports only 40 cryptocurrencies and works with PC, Mac, Linux, and Android operating systems. You can use your KeepKey hardware wallet with software wallets like MyEtherWallet.
Price: $49
KeepKey is a good and cheap option for users who want to hold Bitcoin or leading cryptocurrency assets. It lacks support for other popular altcoins, a dealbreaker for many users. It also lacks iPhone support.
KeepKey wallet has a USB cable to connect it to a computer, a card to write the recovery sentence on, and a leather case for the card. Overall, it’s a solid budget-friendly wallet.
Trezor Model T-Next Generation
How to use it:
You’ll need to download the TREZOR bridge and install the latest firmware to set up your Trezor T wallet. You’ll be given the warning to back up your seed phrase, but it’s up to you when to do it.
Features:
Trezor T supports over 1200 coins and connects to Windows, macOS, Linux, and Android devices. One of its top features is the large touchscreen display in color.
Price: 297.01
Trezor T was released in 2018 and is considered one of the best hardware wallets ever created. It comes with a USB cable, two recovery seed cards, and Trezor stickers. Just like other Trezor wallets, Model T doesn’t support iOS. Besides the price, the main difference between a Trezor T and Trezor One is that Model T is equipped with a touchscreen instead of two buttons.
D'CENT Biometric Wallet
How to use it:
You’ll need to turn on your wallet via the power button and write down your recovery seed. Then, activate the Android/iOS option and pair your device with your smartphone using the normal Bluetooth settings. You must download the D’CENT app on your phone before using the wallet to send coins.
Features:
D’CENT biometric wallet has biometric security and EAL5+ security certification. It supports a limited range of cryptocurrencies and works on Windows, Mac OS, Linux, Android, Chrome OS, and iOS operating systems. It also has a fingerprint scanner and a large touchscreen.
Price: $139
The D’CENT biometric wallet is among the most straightforward hardware wallets to use. Its large touch screen and built-in fingerprint sensor make it easy for users to interact with the device and check their balances without connecting it to a computer. D’CENT comes with a USB cable and a recovery card.
Although it has built-in Bluetooth connectivity, it doesn’t increase the possibility of getting hacked since no private keys are transmitted over Bluetooth. It’s also important to mention that D’CENT works without an additional software program.
SecuX V20 Most Secure
How to use it:
You’ll need to power on the device with the button, set a PIN code, and write down your recovery seed. You can use Bluetooth with your mobile phone or PC with a USB cord or Bluetooth. After choosing one option, you can already add wallets to the device.
Features:
V20 supports many major cryptocurrencies and all ERC20 tokens. The in-built browser and applications of the device are compatible with Android and iOS. It also has an EAL5+ security certification and a hidden wallet.
Price: $139
SecuX V20 is very easy to use with its 2.8-inch touchscreen. It’s a unique wallet in the market since it allows users to create a hidden wallet within the device. SecuX V20 has a wallet storage bag, a USB-C cable, and recovery seed cards. It’s a very safe option with a fantastic design.
SecuX W20 Most Secure
How to use it:
W20 has the same setup method as V20. You need to power on the device, set a PIN code, and write down your recovery seed. Choose the USB or Bluetooth option, then add wallets to the device. Download the SecuX web and mobile apps to manage, send or receive digital assets.
Features:
W20 supports only 6 cryptocurrencies BTC, ETH, XRP, BCH, GRS, LTC., and all ERC-20 tokens. It has wireless support and can be managed by the SecuX app for iOS and Android. Placed with a CC EAL5+ security element, it protects users’ private keys.
Price: $119
SecuX W20 is the same as SecuX V20 in terms of functionality. They have identical features, and the only difference is their physical properties. SecuV20 is a bit heavier than W20 and is $20 more expensive. However, W20 is much larger, and its quality is much better than other devices in the same price range, such as the Ledger Nano X.
Ledger Nano X
How to use it:
Nano X is an easy-to-use wallet with a simple setup process. You’ll need to power up the device, choose a PIN code, and write down your recovery seed phrase. Also, you have to download the Ledger Live mobile app and pair the device with your phone to start installing apps and adding accounts.
Features:
Nano X supports over 1000 coins and tokens. It has secure Bluetooth capability, which makes it easier to use than the Nano S, but it’s only compatible with mobile apps, not desktop. It also has a larger display screen and supports both iOS and Android.
Price: $119
Nano X is another good Ledger wallet with a USB-C cable, a keychain strap, and three recovery seed cards. The main difference between Nano X and Nano S is that Nano S uses Bluetooth connectivity and has an increased storage capacity for applications. Although it doesn’t have a touchscreen, its built-in display is larger than the Nano S. If you have an iOS device, or prefer wallets with Bluetooth connectivity and large storage capacity, then Nano X will be a better option for you.
Ledger Nano S Plus
How to use it:
The setup process includes installing the Ledger Live app on a computer, setting a PIN, and writing down the seed phrase. You can open the app, find the respective applications, and install them when you’re done.
Features:
Nano S Plus supports up to 100 crypto apps and allows users to manage over 5,500 digital assets. It can be used on any Windows, Mac, or Linux desktop; you can also control it with your phone, but only on Android since it’s not compatible with iOS.
Price: $79-$85
Nano S Plus comes with a USB-C cable, cards for your recovery seed phrase, a loop for attaching the device to a keyring, and Ledger stickers. It’s important to note that Nano S Plus doesn’t have Bluetooth or a battery, so you must keep your device plugged into your computer. It has 1.5MB of storage, which is almost the same as the storage offered by Nano X.
Ellipal Titan
How to use it:
You’ll need to download the Ellipal Firmware on a micro SD card and insert the card into your device. Download the Ellipal app from your mobile store, create an account to set up the wallet, and follow the instructions to back up your device.
Features:
Ellipal supports over 10,000 tokens and 40 blockchains. It’s completely air-gapped, meaning it doesn’t come into contact with any network connection and only uses QR codes scanned by its built-in camera. It also has a large touchscreen display. Ellipal is only available as a mobile app for Android and iOS and doesn’t have desktop compatibility.
Price: $119-$169
Although Ellipal Titan isn’t as popular as Ledger or Trezor wallets, it still guarantees the safety of your keys. The wallet is a bit bulky, which makes it hard to carry around. It comes with the Ellipal safety adapter, a guide booklet, stickers, and a charging cable. You don’t need to use the cord to plug your device into your computer since it uses QR codes. It’s a good choice if you want to store a lot of funds there and value its air-gapped security.
CoolWallet Pro
How to use it:
You’ll need to charge your device by connecting it to a USB slot of a computer or laptop during the initial setup and download the CoolBitX Crypto Wallet app from AppStore or Google Play. Pair the CoolBitX software application with your phone via Bluetooth and write down the recovery seed phrase. Use the app to send or receive cryptocurrencies.
Features:
The CoolWallet Pro supports ERC-20 and TRC-20 tokens and can store 16 significant crypto assets. Users can pair their wallets with an Android or iOS device via Bluetooth within a 10-meter range. It’s one of the most secure hardware wallets on the market thanks to its CC EAL 6+ security chip.
Price: $149
The CoolWallet Pro is a relatively new hardware wallet. It comes with a USB charging dock, cable, and recovery seed cards. This wallet is incredibly easy to carry since it’s the size of a standard credit card. Charging takes 4 hours which can last 2-3 weeks. It supports various coins and comes with Military grade Secure Element, which makes the wallet tamper-proof.
Keystone Pro
How to use it:
You have to go to Keystone’s website and scan a QR code with the wallet’s camera to authenticate your device, then enter the code that appears on the device. Set up a password and write down the provided seed phrase before pairing your Keystone device with the Keystone app downloaded from App Store or Google Play.
Features:
The Keystone Pro wallet is compatible with wallets like Casa, Electrum, Bluewallet, etc., and supports 9 cryptocurrencies. Its EAL5+ Secure Element chip and anti-tamper self-destruct mechanism to reduce the risk of getting attacked.
Price: $169
You’ll need to plug your Ledger Nano S into your computer with a micro-USB cable, download the Ledger Live desktop app to interface with your wallet, and choose a PIN to set it up and protect it from unauthorized access. The 24-word seed phrase will be shown on the screen of your device.
BitBox02
How to use it:
You’ll need to download the BitBox App from their official website to interact with the wallet while it’s plugged into your device and set a password using the touch sensors of the wallet. Once the initial setup is complete, insert the provided Micro SD card, which will be used as a passwordless backup.
Features:
The BitBox02 supports only 3 cryptocurrencies (Bitcoin, Litecoin, and Ethereum) and ERC-20 tokens on Ethereum. The app is only available for Android users and Windows, macOS, and Linux.
Price: $140
BitBox02 is a Swiss hardware wallet with a backup Micro SD card, BitBox stickers, a small USB-C extension cable, and a USB-C to USB-A adapter, which you can use to connect the device to your computer or Android phone.
BitBox02 has a built-in screen that displays all the information instead of the computer screen. The Micro SD card backup option is a fantastic feature. Although there is limited support for cryptocurrencies and no iOS app, it’s still an excellent wallet with plentiful security options.
Opolo
How to use it:
You must use the USB-A to USB-C and plug your OPOLO wallet into your computer. Enter a password of up to 120 characters to authenticate the device. After you’re done, download the OPOLO app to use your wallet.
Features:
OPOLO has a 3.2-inch LCD touchscreen display, works with Android devices, Windows, macOS, and Linux, and supports over 120 coins and 200,000 tokens. It’s the only hardware wallet certified by Digital Security Paris and has the most secure hardware chip with CC EAL6+ certification.
Price: $304
OPOLO hardware wallet comes with a USB-A to USB-C connector and a USB-C to USB-C. It uses magnetic mnemonic backup storage, so you’ll also get a card for writing down your mnemonic and magnetic cards for storing it.
OPOLO is a secure hardware wallet with USB encryption, anti-theft protection, and PCB Encapsulation features.
Coldcard
How to use it:
Coldcard wallets are delivered in tamper-evident numbered bags, and you’ll have to look at the number and confirm that it matches your Coldcard device number when setting up the wallet. You’ll then need to choose a PIN of up to 12 characters and create a new wallet. Write down the recovery phrase displayed on the screen.
Features:
The Coldcard wallet is the only hardware wallet that supports a microSD card; it allows users to back up their seed phrases and can be used as an air-gapped device for signing and storing transactions. Coldcard doesn’t include wireless connectivity and doesn’t require a computer connection. It also doesn’t support altcoins and only supports one cryptocurrency — Bitcoin (BTC). The Coldcard wallet is compatible with SaaS platforms. It can be used with wallets like Electrum, Bluewallet, Wasabi Wallet, and more.
Price: $109.97
Coldcard wallet comes with backup cards, stickers, and an information booklet. It allows users to set up a multi-signature wallet within the wallet, requiring two or more private keys to sign, send or enable transactions.
Coldcard wallets use PSBT (Partially Signed Bitcoin Transaction) format; users need to create a PSBT file on the wallet to sign a transaction. The tamper-resistant packaging, the open-source hardware and firmware, the anti-phishing words, and the “brick me” pin feature for wiping the device after 13 failed attempts to enter the pin make Coldcard one of the most secure hardware wallets ever created.
Satochip
How to use it:
Satochip is shaped like a bank card, and you’ll need a card reader to use the wallet. Download the Electrum Satochip client, plug your wallet into the card reader and run the client. Choose your PIN and write down the seed phrase.
Features:
Satochip hardware wallet supports over 1000+ assets through clients such as Electrum, Electron Cash, MyEtherWallet, Metamask, and more. It supports BTC, BCH, XEC, LTC, ETH, ERC-20 tokens, BNB, and BEP-20 tokens along with the EVM-compatible network. Satochip has an EAL6+ secure chip element, and its application’s two-factor authentication acts as an extra layer of security used to confirm and sign transactions.
Price: $25
Satochip, also known as Secure Anonymous Trustless and Open-source Chip, is the cheapest hardware wallet available on the market. Still, since it’s shaped like a bank card, you’ll not be able to use it unless you purchase a card reader, which is €15. You can customize your hardware wallet to support Bitcoin or another crypto. It’s a good option for Bitcoin investors who want something budget-friendly.
Archos Safe-T Mini
How to use it:
You’ll need to download the Archos Safe-T bridge software and plug the wallet into your PC or mobile phone using the micro USB. The application is easy to navigate; you’ll be instructed to download and install the latest firmware, then unplug and reconnect your device. When your wallet is connected, write down your seed phrase and set a PIN before adding your first wallet.
Features:
Archos Safe-T Mini supports 7 major cryptos like Bitcoin, Bitcoin Cash, Bitcoin Gold, Litecoin, Dash, Ethereum, Ethereum Classic, and ERC-20 tokens. Wallet’s OLED 128×64 display has limited functionality, and users have to make sense of their devices with the help of computers. Its software application is available for Mac OS, Windows, and Linux, and the wallet also supports Android. Security features include 6-digit PIN protection, open-source code verified via the Archos GitHub, and encrypted chipset memory.
Price: $49
Safe-T Mini is Archos Safe-T Touch wallet’s smaller version and comes with a USB cable, a strap, a protective pouch, and three recovery seed cards. The outer packaging has tamper-evident stickers.
This wallet has a proven track record of being reliable in protecting private keys. It’s cheap and suitable for crypto holders of all levels of experience.
Opendime
How to use it:
You can plug the device into a USB port on any device that supports file opening. You’ll see HTML files on the stick itself and get more information as soon as you start the index.htm file with the internet browser’s help. You can know about the operation of the device by checking for red and green flashes;
- green twinkling lights mean that the device is sealed,
- green flashing lights indicate that the device is reading or writing on the file system,
- short red light blinks indicate that the device hasn’t been set up yet,
- red light changing for green or green light changing for red means that the device is unsealed.
Features:
Opendime is the world’s first Bitcoin credit stick wallet, a small and read-only device that only supports Bitcoin for storage and transfers. It functions as a traditional USB flash drive and can be inserted into any device with a USB plug. Opendime generates private keys and operates as long as a private key is unsealed.
Price: $69
Opendime is a new alternative to paper wallets, a USB stick, or a disposable hardware wallet with more secure private keys to store and pass Bitcoin. The pack comes with three Opendime sticks. It’s made by CoinKite, the manufacturer of the Coldcard wallet.
Opendime wallet looks like a small 4 cm long stick that can be handed to anyone without transaction fees. And since there are no traces of private keys anywhere, it won’t be possible for the device’s original owner to retrieve the funds once it’s handed to someone else, which is one of this wallet’s top security features.
It might not be the best hardware wallet ever created since it lacks many essential features, but it’s still a unique product on the crypto market.
BitLox
How to use it:
To use the BitLox wallet on your computer, you’ll need to download the Chrome Extension Wallet from the Chrome web store and connect the wallet to a USB port to charge. Start the setup process by turning on the device, choosing a language from 10 supported languages, and creating a password based on the three provided choices. Complete the setup by writing down your phrase on the screen and downloading the mobile app to connect your phone to the device.
Features:
BitLox ensures security for only Bitcoin storage and supports Windows, Chrome OS, macOS, Android, and iOS. It’s also Bluetooth compatible and can hold up to 100 wallet addresses, 50 of which are hidden and require a PIN to be opened. Users can type their PIN codes using the alphanumeric keypad directly on the device. BitLox also provides users with 12, 18, or 24-word phrases and complies with both BIP32 and BIP39 protocols.
Price: $149-$299
BitLox has many security features and is an excellent wallet for securely storing Bitcoins. It’s lightweight and portable, and the case is made of titanium and aerospace alloys.
Although it provides users with top-notch security features, it’s a bit expensive compared to its competitors because it’s only designed for Bitcoin holdings. Also, its interface is not beginner-friendly since it has many advanced features.
Secalot
How to use it:
To activate your Secalot wallet, you must plug it into your computer and download the Secalot Control Panel application. When creating a user account, you’ll have to set up a PIN code, after which you’ll be presented with a 24-word recovery seed. Then you can open the application and select ‘Create wallet’ to start using your device.
Features:
Secalot is compatible with Windows, macOS X, and Linux operating systems. This hardware wallet looks like a USB stick; it has two silver stripes printed on the front and two buttons used to authenticate crypto transactions. It supports only Bitcoin, Ethereum, and ERC-20 tokens.
Since Secalot doesn’t have a screen, it relies on a remote screen hosted on its mobile app, which is available for Android and iOS devices. Its top features include FIDO U2F authentication, OpenPGP smart card, and a one-time password generator.
Price: $49
The hardware wallet, software, and app are all fully open-sourced. Users’ private keys never leave their offline storage, and Secalot’s security features ensure their safety. Although Secalot is still a new product and doesn’t have a strong presence on the market, it’s still a good and solid hardware wallet.
