As Bitcoin is becoming more popular, one of the major concerns of most investors is its security and storage. Of course, you can easily store your bitcoin in online crypto wallets and exchange platforms. But, that might not be secure enough, with stories of hacked crypto exchanges already making rounds on the internet.
So, how then do you store your bitcoin to be totally safe from hackers and other internet security issues? To many people, the perfect answer to this question is hardware bitcoin wallets. In this article, you’ll learn why you need a bitcoin hardware wallet and the best ones for cold crypto storage.
Why Do You Need a Bitcoin Hardware Wallet?
There are many reasons why you may prefer hardware bitcoin wallets to online wallets. Some of the benefits include:
- Your private keys are secure since you’re only required to input them into your hardware device and not on the computer.
- The pin for the device is encrypted and an attempt to try out different pins will cause the device to self-destruct at the third attempt. This is a good way to keep your data safe.
- Computer viruses usually attack software. So, with the hardware wallet, you can assure that your info is safe from virus attacks.
- Some hardware wallets can also store multiple kinds of coin at the same time, such as Ethereum, Doge, etc
5 Best Bitcoin Hardware Wallets For Cold Storage
#1. Trezor One
The Trezor One wallet is renowned for its support for over 600 crypto assets. The hardware is very portable for easy mobility and is also very durable, so you don’t have to worry about carrying it around. It helps you process crypto transactions on the fly since all you need to do is to plug it into a computer to start using.
For maximum security, the wallet uses enhanced techniques such as pin codes and paraphrases. So, you can be sure your crypto is safe with the Trezor One wallet.
#2. Ledger Nano X
Nano X was built in 2009 by Ledger, one of the largest Bitcoin hardware wallet companies. The wallet features a sleek design and a large mobile-friendly digital display, with large-size buttons to aid easy operations.
The wallet can store up to 100 cryptocurrencies including BTC, Bitcoin Cash, Ethereum, Litecoin, etc. So, it is easier to have different crypto from different exchanges in one wallet.
With the Ledger Live App, you can connect the Nano X wallet to your smart devices such as Android and iPhones, using the bluetooth connectivity feature. To ensure maximum security, the wireless signals during the connection are secured with end-to-end encryption.
#3. CoolWallet Pro
The CoolWallet Pro is one of the latest state-of-the-art bitcoin hardware wallets, developed by CoolBitX. The hardware wallet is both tamper-proof and water-resistant to improve physical security. The shape is like that of a normal credit card.
To use the wallet on mobile devices, you can easily connect with its bluetooth feature provided the devices are not more than 10meters apart. It also features an improved security feature of biometric login and supports 2-factor authentication.
#4. Trezor Model T
The Trezor T offers one of the most secure Bitcoin hardware wallet solutions with its two-factor authentication and password manager. It provides a touchscreen digital display to help you input data and for easy operation. By ensuring that you can enter data only via the display, you can be sure your information is secure.
The wallet also supports multiple crypto coins and has gained the trust of users over time. It is produced by one of the most reliable hardware companies – Satoshi Labs.
With a screen relatively larger than most other hardware Bitcoin wallets, Keepkey is very easy to operate. This makes it a very good option for beginner investors, plus the fact that the price is significantly more affordable than many other options
Although Keepkey does not have a very large crypto support base, it still supports over 40 cryptocurrencies including the most popular coins such as BTC, ETH, etc.
As an additional security feature, KeepKey provides you with a 12-word sentence for private key recovery. This helps ensure that you can still recover your crypto assets even if anything happens to the hardware wallet.
Although many people consider it easier to register and store Bitcoin in online wallets, your assets in those wallets are still prone to cyber attacks. But with hardware bitcoin wallets, you can be sure you’re off the reach of such potential attacks. You can choose from any of the hardware wallets listed in this article for maximum bitcoin security.