Cryptocurrency which became famous in 2017, has now become one more potential profit-making option for investors. In simple terms, the whole concept of cryptocurrency is similar to how we buy shares from the stock exchange. Cryptocurrencies offer transfer of digital assets over the decentralised network technology called blockchain. One of the vital and highly popular cryptocurrency is bitcoin which you must have heard about. If you have already invested in Bitcoin and are looking for ways to secure it, then you must opt for Bitcoin wallet. A bitcoin wallet comes in hardware bitcoin wallet or software bitcoin wallet form. Bitcoin is the world’s first decentralised digital cryptocurrency and can be said as a ‘digital currency.’ This digital currency falls under the rules and regulations of cryptography.
What is Bitcoin wallet?
A bitcoin wallet is a place where you can store bitcoins. It is a digital wallet which comprises of a private key in the form of a secret number for each Bitcoin address owned by a person. Let’s just say that if Bitcoins are considered similar to physical money, then this wallet may be regarded as equivalent to a physical wallet.
So what are the types of bitcoin wallets?
Bitcoin wallets come in many forms, The four main types of digital wallets are desktop, web, mobile & Hardware.
Hardware Bitcoin Wallet – The hardware bitcoin wallets offers the best security that you can get. They store the private key offline
Examples of Hardware Bitcoin Wallet: Ledger Nano S, Trezor, KeepKey.
Software Bitcoin Wallet – Software wallets are apps which you can download to your smartphone, laptops, and tablets. They will help you to protect your bitcoin as well as give you access to your account within seconds. If you have a small number of bitcoins, software wallet for good for transaction only. For large quantity hardware wallet are more secure.
Examples of Software Bitcoin Wallet: Copay, Electrum, Exodus
This article is about notifying you about the best hardware Bitcoin wallets. So here is some of the best Bitcoin wallets that you can go for!
1. Ledger Nano S
It is very safe, strong, smooth as well as affordable kind of hardware wallet and you can avail it with just a price of $95.
Since it is a multicurrency wallet, you can store different crypto coins in it. It is very light weighted and is made on a smartcard device. In order to safeguard Bitcoins, manage account and make secure payments you need to connect it to a USB port.
Advanced features of Ledger Nano S:
- You can use it on any computer, regardless of the OS installed in it.
- You can also work on Linux or Mac machines
- Google Chrome is also companionable with Linux, Win 7-10, Mac 10.8+
- Free updates
- Usage of the normal USB port. Thus it can be used through cellular devices also with the help of USB adapter
- The interface is very easy to use and learn
- The functioning of this particular wallet is also impressive and also it is safe from malware. You can also take backup of your account in case your wallet is stolen or lost.
It is one of the best and first hardware bitcoin wallet launched in 2014 that can be used for storing and transacting Bitcoins. It has many advanced security options, and it uses a unique PIN code. So when a computer gets hacked, the hacker cannot get the unique PIN. After each incorrect input the wait time between guesses is raised by a power of two. Making 30 guesses would take around 17 years.
Advanced features of Trezor:
- It is supported on iOS 10.8+, Win 7-10 and Linux
- Good retrieval speed to recover private keys and a full history of transactions
- Very simple interface and you can do your work with just some clicks!
- Secure validation process
- Trezor comes at the cost of only $99, and it supports seven other cryptocurrencies like ETH, ETHC, XRP and many others!
This is another crypto wallet that was launched after Trezor. It is unique in a way to transact. When a user is using or configuring it, that user has to approve each transaction. An essential characteristic of this wallet is that it can collaborate with any existing software wallets by managing and generating a private key. The KeepKey’s comes with a larger screen which gives it some extra security features that the Nano S and Trezor lack.
Advanced features of KeepKey:
- Retrieval process uses a spinning cipher
- Generation of the private key with a random number generator
- Big screen helps to navigate easily
- Easy interface to use and learn
- Keepkey comes at a price of $99 and offers only six types of cryptocurrency to store in it!
Open dime is one of the most popular hardware Bitcoin wallet due to its unfathomable features. It is the first of its kind which made it possible to use disposable hardware Bitcoin wallets to be use as physical money. It is a game changer and a blessing in disguise to some developing countries having limited infrastructure in the field of connectivity.
Advanced features of Open Dime
- Can be used in Smartphone, laptop and desktop
- Works as a USB flash drive with text files and a QR image comprising of all the necessary information and Bitcoin address
- The device generate the private key inside it which cannot be possibly known by anyone making it ultra secure.
- As it is in the form of physical Bitcoin it is easy to transfer it multiple times without paying any miner fees.
Open Dime is a extremely secure physical form of Bitcoin hardware wallet which you can use without any hassle. There is no storage limits of Bitcoin amount in this device. Hence you can have a tangible tool which you can trust without worrying about any kind of fraudulent activity.
Another fantastic hardware Bitcoin wallet is Digital BitBox which promises you both privacy and security. Filled with amazing features this device is easy to operate for new Bitcoin investors.
Advanced features of digital BitBox
- Recovery as well as backup is easily available with the help of micro SD card anytime even when you are offline
- User-friendly software which helps you to avoid various risks through browser
- Comes with a smart verification procedure as well as an optional two factor authentication
- Has a inbuilt facility to change between different Bitcoin wallets within seconds
Due to these amazing features Digital BitBox has become one of the most used hardware bitcoin wallets that you can find in the market.
So what are you thinking of? Choose one of the best hardware Bitcoin wallets for the safety of your cryptocurrencies. If you know any more hardware bitcoin wallet, then do not forget to share with us!